Nice parting statement, peterwn. As a (relatively) long time TIX holder, I believe ANI's portfolio will be in good hands. I've been impressed with the Pitt crew, so it's worth a calculative (with emotions in check) analysis of TIX to determine whether my views are justified.
It never ceases to amaze how investors sell at the wrong end of the price range. This may have occurred over the past couple of weeks. Specifically, time will tell whether selling TIX at $2.30 is good investing.
Similar problem occurred soon after TIX went public in December 2012 (long before our initial investment in TIX). The IPO price was $1.80 (adjusted for later 4-to-1 consolidation), then plummeted by January to $1.50s. One financial advisor whose clients held a chunk of TIX fought Pitt against taking the fund public, and even tried to replace TIX as responsible entity with the OZ subsidiary of a US property firm. I don't know if the advisor who lost that battle soon after advised clients to sell out, but there was a lot of shares traded soon after, aided by suspiciously false rumours in Jan13 about TIX debt. Wiser investors (i.e. those who read the documents) experienced nice capital gains from that sell-off.
As always, please DYOR research. These are only my observations and interpretations of evidence.
ANI Price at posting:
$2.40 Sentiment: None Disclosure: Not Held
