Rewardenn

Value investing is the sole approach I have discovered that consistently increases one's wealth over the long term.

[Rewardenn @Rewardenn]

@benthicplumber @ClarkSquareCap Is there any information about what happened to John Chew?

[Rewardenn @Rewardenn]

@memyselfandi006 Hey, I just stumbled on this company. I understand that you are very sceptical about it! Could you please share some thoughts that should really turn me off before I devote more time into it? Thanks

[Rewardenn @Rewardenn]

@Wexboy_Value @RonaldEvers I reckon it really comes down to how you calculate NAV- especially how you value Action- and, in the case of 3i, how much the ex-Action NAV has actually grown. In other trusts you have to have a feeling if NAV is actually real and how much is going to fall down to you.

[Rewardenn @Rewardenn]

@memyselfandi006 @InvestFavorite @DutchInvestors Also for anyone wondering 18.5 is after 5% liquidity discount. The valuation incorporates 10% store growth and 5% LFL.

[Rewardenn @Rewardenn]

@memyselfandi006 @InvestFavorite @DutchInvestors Adjusted in a way that they ramp up new stores to full first-year profitability.

[Rewardenn @Rewardenn]

@stoked_on_waves @kingdomcapadv @KarstResearch I would agree with you if I viewed mortality curves and the mortgage market—or any other market—in the same way. Life settlements operate like a parasite on life insurance, yet I still find the narrative of largely uncorrelated yield compelling.

[Rewardenn @Rewardenn]

@stoked_on_waves Not sure this answers your question - GWG Holdings criminal case—former Chairman and key figure Brad Heppner—was arrested and indicted for fraud in November 2025, but he is not serving a prison sentence yet. He is currently awaiting trial, which is scheduled to begin on April 6.

[Rewardenn @Rewardenn]

@stoked_on_waves @kingdomcapadv @KarstResearch If that’s the case, why have we only seen two publicly traded companies go bankrupt so far after buying these baskets the wrong way?

[Rewardenn @Rewardenn]

@stoked_on_waves @kingdomcapadv @KarstResearch Am I saying its a screaming buy? Hell no.

[Rewardenn @Rewardenn]

@stoked_on_waves @kingdomcapadv @KarstResearch I hear you and agree. Personally I would love them to just report realized gains. However the bet is that the capital velocity is much higher here than viewing abacus as some bank.

[Rewardenn @Rewardenn]

@stoked_on_waves @kingdomcapadv @KarstResearch Is valuing via mortality tables different from valuing any investment? No in theory - cash in & discounted cash out. Would I say that valuing life insurance policies is much harder vs companies? YES. Is that a moat? If you can do it wisely and sell those policies? YES

[Rewardenn @Rewardenn]

@stoked_on_waves @kingdomcapadv @KarstResearch My question is. How would you value these policies? My understanding is that if life insurance is an financial asset you - as investment company want to carry that asset at fair value. Look at 3i group and how they are valuing their assets and how does that impact cashflow.

[Rewardenn @Rewardenn]

@stoked_on_waves @kingdomcapadv @KarstResearch I will gladly write post mortem.

[Rewardenn @Rewardenn]

@JPSInvestments @youngtylez @Vuzhteetz @SFarringtonBKC The report was okay and raised some good questions. However, they completely missed the big picture and did not understand the accounting—which they misinterpreted to their own narrative.

[Rewardenn @Rewardenn]

@ToffCap Warrants 0? May be wrong

[Rewardenn @Rewardenn]

@Tintincapital @Amstal2 I think the price reflects the fact that no matter how cheap it is, if the company provides little to no value to consumers, the market will eventually realize it. Just look at what they actually do.

[Rewardenn @Rewardenn]

@ACapitalLP Than being on GLP's for life.

[Rewardenn @Rewardenn]

@ACapitalLP Now, the pill is essentially the same story. You get it for cheaper, but it has the same substance. The only way for you to lose weight is to change your lifestyle, eat fewer calories, exercise, etc. Insurers should want it because you getting thin and staying thin is cheaper.

[Rewardenn @Rewardenn]

@stoked_on_waves