COE's IPM holding is a solid ASSET, but it is not CASH, not even CASH EQUIVALENT.
Holding a small holding in a liquid stock as a trading position possibly, but not holding a very substantial investment position in an illiquid stock. Quite a difference. When a fund says what it is holding as cash, it means CASH, not cash + share investments.
Perhaps COE can cloud the high promote cost they are paying into Hammamet with a Bargou smoke and mirrors combo, but I doubt it. As first they have to get a "like minded" well funded entity to share their believe in elephants there, and not pink or white ones at that. Tall order imho, but good luck.
EL
COE Price at posting:
20.5¢ Sentiment: LT Sell Disclosure: Not Held
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