Reality check 2, page-40

Still seem to be a bit of confusion as to what people own here. Management should do this, management could do that. Blah. Blah. Blah.
Management run a Long Short Fund.
Management are looking for ways to make returns, whenever and however they can. Looking after other peoples money and charging them for it is part of the equation.
If you want a ticket on the ride, here is the price. Don't like the ride, pull the cord. Don't like the price of the ticket, pull the cord.

Take it at face value based on what they have said. We will continue with buybacks whilst the discount is more than 10%, and management will buy shares with their ill-gotten fees as long as there is a discount. In hindsight when the buyback stopped before the management fee purchase started, they actually said on the announcement on the 5th Jan the buyback was stopping effective immediately, so we should have picked up on that. May not have liked it, but we were informed.

In the meantime, things are moving exactly as some said last week.
Wall goes, thin on the topside after that.
What happens from here depends on their positions! Go figure.
They make money, we make money, everybody happy.

Holders be happy. Their positions look good. Everything is ticking along in the right direction.