The more I think about it, the more I want to buy shares - in...

The more I think about it, the more I want to buy shares - in Colinton! Compared to the other investment company that has seen its position and value in the company slashed (was it Wilkinson? something with W), Colinton have really shown themselves to be the true masters at the insto game.

They've purchased a sixth of the upside in AJX for virtually zero risk. Between the fee charged, the $300 k pa interest and the fees they are surely charging for assuming a board position, they will have the cash from their equity position recovered easily before its time for refinancing (and still hold the shares, of course). And if things go belly up guaranteed they will recover their $5.15 mil debt by selling the parts, which are easily worth $5mil. Its masterful in my opinion, I can see why they are respected, they clearly know how to hold their hand until the right moment. Its all upside and no downside for C. They even get the oversight and control that comes with the board seat to boot.

The investors from Wilkinson (or whatever) must be feeling extraordinarily sheepish whenever they are in the same room as Colinton.