JC - yes, the bear case for LDP amounts to a bear case for Naz (and the tech IPO market), and as such, it is hard to build one specifically addressing itself to LDP. Perhaps one could look more carefully into LDP's non-VC businesses and see how those would be impacted by a down/bear market, but from my point of view, LDP's structure and non-reliance on *only* the VC, makes it a far more desirable stock to own than a pure-play VC. And the fact that LDP's VC arm can look at both U.S. and European prospects (because of the international backgrounds of management), makes LDP even a better bet than a purely U.S or purely European VC operation. So, what can I say - I like it, I like it, I like it. As a matter of fact I agree with every word you've written - which is very unfortunate from my point of view, because I like to write extensive analyses, preferably controversial (on other boards, LOL!) - and here, you have such a good grasp of this company and stock, that I find myself with little to add (except perhaps some comments on the technical aspects of the stock trading), LOL! Anyhow, please keep up the good work - we all benefit from your research!
Morgan |
