So, thus far, we are up a tiny bit on this position, but we think the downside is small, and we could make multiples of our investment on the upside. This investment is not option value like PipeCo, but it is certainly closer to that end of the spectrum.Our investments come from a diverse range of areas. Riskier, or investments perceived as riskier because they are priced at pennies on the dollar or have higher potential return, we think, are perpetually undervalued.

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