Is the management (and board) team high-quality (performance,...

1. Is the management (and board) team high-quality (performance, ethics, values)?
2. Is the management team (and board) aligned with shareholders (skin in the game)?
3. Does the company (PVL) have competitive advantages (superior networks, superior processes)?
4. Do the portfolio companies have economic moats (intellectual property, cornered resources, high switching costs)?
5. Are there pathways to near-term liquidity events and portfolio company re-valuations (to increase NTA)?
6. Is the company operating leanly with minimal operating cashburn (to reach those liquidity events without dilution)?
7. Will the share price rise in line with NTA over the long term?
8. Is there a current share price discount to NTA (margin of safety)?

These are the questions you'd be better off asking, Rusty.

Have a good weekend.