Hi Uncle ArthurJust started looking at this stock a few days...

Hi Uncle Arthur

Just started looking at this stock a few days ago. IMO the lack of scale in funds under management does not justify the current share price.

A glance at the financials shows that the recurring management fees basically puts the company in a break even position. At this stage of the business they have much higher reliance on performance fees than I'd be comfortable with.

Definitely a bull-market stock so they can more easily rake in performance fees. If there is a sustained bear market, or even a brief one, I'd imagine there'd be a good chance of further downside.

MJS