Tetragon Financial Share Discussion Threads

[hugepants] 14/4/2021 12:15

Indeed but still looking pretty dead here Jim.

[makinbuks] 13/4/2021 23:43

OK thats nice, so can we gain the 20% needed to get back to the pre COVID level?

[hugepants] 13/4/2021 22:09

XRP soars 28% as Ripple executives motion to dismiss SEC suit https://markets.businessinsider.com/news/stocks/xrp-price-ripple-record-high-sec-suit-motion-dismiss-cryptocurrency-2021-4-1030299062

[tiltonboy] 13/4/2021 18:54

Ripple up 25%

[spectoacc] 13/4/2021 11:47

Lol @Makinbuks - agreed.

[makinbuks] 13/4/2021 10:44

Thanks for digging that out Huge. I'm a big supporter of research into AMD so very pleased to see that. The Ripple story continues to fascinate and perplex! And why not get in on the SPAC action. No doubt a complete pile of pooh but as always where's there's muck there's brass I'm actually quite enjoying being a Tetragon shareholder. It feels a bit naughty, like you know you shouldn't really but its just too good a story to resist. Of course back in the real world I remain 25% underground!

[hugepants] 12/4/2021 20:34

Contributed in a Gyroscope Therapuetics funding round. https://www.businesswire.com/news/home/20210326005092/en/Gyroscope-Therapeutics-Announces-148-Million-Raised-in-Series-C-Financing

[horndean eagle] 11/4/2021 22:05

https://cointelegraph.com/news/why-is-xrp-seeing-a-monster-rally-when-ripple-is-worth-just-3b-on-the-secondary-market

[alexhemm] 10/4/2021 13:54

if you missed a call (and can't or won't relisten on TFG site (onky 30days?), you can easily read the transscript: https://seekingalpha.com/article/4409752-tetragon-financial-group-limited-tgonf-management-on-q4-2020-results-earnings-call-transcript more important and new: UNDERWRITER INFORMATION BofA Securities Bookrunner J.P. Morgan Bookrunner hxxps://www.renaissancecapital.com/IPO-Center/News/80538/Alternative-asset-management-focused-SPAC-Tetragon-Acquisition-I-files-for- Alternative asset management-focused SPAC Tetragon Acquisition I files for a $500 million IPO April 8, 2021 TACQU Tetragon Acquisition I, a blank check company formed by Tetragon Financial Group targeting the alternative asset management industry, filed on Thursday with the SEC to raise up to $500 million in an initial public offering. IMO they could use this money to take out one of their managers at (or above) NAV, or with now high XRP sell/buyout/list/get rid of the unwanted Ripple C-round shares, such a realisation demonstrated at NAV could really reduce the discount. Also the money could be used for a substantial buyback which would lift NAV and shareprice, as a nice big repurchase would have to be at a nice premium to share price

[makinbuks] 07/4/2021 14:52

Whatever its doing its not shifting TFG

[hugepants] 07/4/2021 12:40

Ripple XRP still going vertical. Down 20% today.

[hugepants] 06/4/2021 12:13

RIPPLE CAN DO WITHOUT XRP IF FIRM LOSES “IRONIC” LAWSUIT – CEO BRAD GARLINGHOUSE APRIL 5, 2021 10:06 AM UTC, RICK STEVES https://financefeeds.com/ripple-can-without-xrp-firm-loses-ironic-lawsuit-ceo-brad-garlinghouse/

[hugepants] 06/4/2021 12:12

Ripple XRP has gone vertical! Now over 1 dollar and has regained the number 4 most valuable crypto spot

[hpcg] 03/3/2021 18:07

I did originally buy as a weak Sterling play too, which did not come to pass which is not the fault of the company. If I was still working and a decade younger I could justify keeping or buying but now that I am full time investing I can't let money just moulder away without a clear purpose.

[spectoacc] 03/3/2021 15:02

Fair play, and good luck with whatever the money goes into. I'm in these long term I think. The discount will narrow (Shirley) eventually, and c.60% back to c.40% will be a decent move in s/p. I'll take the (reduced) yield in the meantime. Totally agree re it being meant to perform differently to equity, yet has actually been even worse. And the naff recovery. Just can't see it getting much worse tho. 70% discount a floor? As long as they hold the performance together, there's lots they can do (even if they currently show no signs of doing) to move the s/p. But I'm not convinced by all that to add again.

[hpcg] 03/3/2021 14:06

I'm out. On the plus side I didn't have any problem shifting when this has sometimes been difficult to trade, so someone is accumulating in the background. Six reasons really. Firstly the share count has not materially changed over the years. Secondly discovering Reade Griffith is only a few years older than me and thus one catalyst for realising the value could be a really long time away. Thirdly my watch list is replete with opportunity and I stand a much better chance of recovering my losses and sooner elsewhere. Fourthly and concurrently it is difficult to see the share price move up here with any rapidity. Fifthly a terrible relative recovery off the March lows. Finally it has performed worse than a simple equity strategy when the discount was supposed to have provided some form of protection. Not least the disappearance of any liquidity in a down market scenario, and a micro-cap level spread. Lost about 25% excluding dividends on my pre-pandemic holding and negative side of break even including dividends on my June 2020 "recovery" purchase.

[riskvsreward] 01/3/2021 16:42

Makin, are you sure that you are talking about tfg? Where do you get the evidence that they backed the company with their own money? For more than 12 months, the insiders of this company have not bought a single share among them on the market. All their stakes (big) are from free-ride (or from NAV based fee), taken from the assets belonging to ordinary shareholders.

[alpal2] 01/3/2021 14:40

I don't think more interviews will change the market's perception that management will only look after themselves and non-voting shareholders can get lost or sell. The share price to NAV discount is a clear demonstration that the market believes the business is run for the benefit of management not shareholders. Why else would there be sellers at the current price? Disillusioned shareholders who realise that management has no intention of letting shareholders get a fair SHARE of the business.

[makinbuks] 01/3/2021 12:17

I wouldn't say they are dishonest. They are high conviction and back it with their own money. Consistency and repeatability are their mantra so they're not going to change. They believe they can reduce the discount by educating the market so I think we can expect more online interviews etc. We either sell or sit back and enjoy it

[alpal2] 01/3/2021 09:47

Thanks, guys, for the feedback on this. It seems the directors are little short of dishonest. When pushing up fees they trumpet the NAV; but when referring to dividend they talk return on share price. Note 4% yield on share price but only 1.6% on NAV. We need to hope share price doesn't drop any further or they will use that as justification to cut dividend even further.

[apple53] 27/2/2021 22:42

Thanks for all the info. I am trying to listen to replay. Won't work for me. Either classic TFG or a glitch at my end. Anyone else any luck? Meanwhile on buybacks sounds like time to do some work on volumes: but shareholders are winners either way: either the nav goes up or the share price does (or both to start with).

[ceaserxzy] 27/2/2021 19:15

It is ridiculous for them to say that they have given return to shares holders of $90 m in dividends plus tender offer. The tender offer is not a share holder return. It is stealing and robbing the share holder. It is like you offer someone £1m for his £3 m house and you told him that you gave him £1 m, while in fact you just robbed him £2 m.

[riskvsreward] 27/2/2021 17:31

If they pay shareholder more fairly and rob less themselves, there then surely will be fewer sellers and more buyers. The simple fact that there is a persistent overhang of sellers even at such deep discount of 65% tells them what the shareholders think about them as the custodians of the shareholder money. It is better to take whatever you can before it is all stolen/lost.

[spectoacc] 27/2/2021 17:13

Thanks @Makinbuks. Yes, fair point about an increased divi not helping counter the forced sellers - but surely an increased divi (or not bloody cutting it in the first place) attracts new buyers, who eventually take out the sellers. One day we'll get back to a more reasonable discount (say 30-40%) - but I've been saying that for too long already.

[makinbuks] 27/2/2021 15:21

On the dividend, they outlined the 5 considerations they take into account when deciding the level of payout. They highlighted that at the current share price the yield was 4%. They pointed out that "returns" in the way of dividend plus the tender had been $90m matching the prior year in a difficult environment. On fees versus dividends he answered very literally that you can't equate them (whicjh is true) but in my view deliberately avoided the "between the lines" question of whether the trust is run for the benefit of the managers or the shareholders. On the discount to NAV, he said that what was required to close it was more buyers than sellers and that there had been a big overhang of sellers in the US.He listed many reasons that have been suggested as the single cause but he believes in fact that they are all valid. Specifically dividends and buybacks are not a panacea. On Ripple, the valuation is based on a DCF calc with a 15.5% discount rate. Shareholders should note that the class of share we own is not traded nor is it the currency itself. He explained that the SEC investigation was known to them at the time of investing and was the reason for the money back clause. Interestingly he then very quietly and quickly admitted that being considered a security was the way things were moving rather than a fact which is the very point Rippple have made in rejecting the claim. They noted that Ripple claim to have $360m cash on their balance sheet from $330m at end December, his point being that there is liquidity there