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17:14
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Originally posted by fourdollars:
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If you are good at what you do in this field, you'll get a superior return vs the risk profile of the underlying securities. Spotting a mismatch between price and risk is what they are supposed to be doing. So if they are any good, the SP should always be higher than the NTA of the underlying securities. Raising at NTA is accepting mediocrity.
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@blister
(20min delay)