Very quiet on this thread given WCAPs run from 14 to 27 in the past 3 weeks. Public portfolio now worth $108M, WCAP market cap $141M. Recent equity investments announced in Eprise and Aeneid Corp. Nasdaq National Market Listing approved and imminent.
WCAP and its holdings seem to be executing flawlessly. CMRC, COOL, HEAR, ESTM, ROWE, IBUY, WGAT, JWEB, and MPTH all showing strength. CMRC holdings now valued at $60M from $1.4M in basis. COOL breakout due to Buy.com and EGGS abandoning @ cost model and comments from CEO that profitability is the primary goal. WGAT showing strength on their China cable deal, 4 strong buy recommendations, and their patented TV hyperlinking technology. Other public holdings also making great strides in their fundamentals.
PNV Net IPO still scheduled for this upcoming week. Vertical portals are a growth market according to industry analysts. Not expecting a home run but still another triple-digit contribution to ROE seems likely.
Private placements in Vivid Semiconductor, TeraStor, Internet Gift Registries, MarketFirst Software, Screaming Media, Eprise, and Aeneid Corp top the list among the 25+ private holdings. Given the insatiable appetite for inet IPOs S1 filings could be expected anytime. Still anticipating WCAP to be trading in the 30's by Dec. WCAP has come from $2 to $27 in 18 months as the assets, earnings, and ROE have improved likewise. YTD earnings of $12.98, discounted earnings $8.01. Still undervalued at 1.8x book against 500% ROE.
Congrats to all the longs and cheers to a great outlook going forward.
TJ |
