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Facebook, Inc. (FB) Message Board

  • needinfo117 needinfo117 Oct 3, 2013 3:46 PM Flag

    Read the whole story in Barons

    A week ago, I talked with Landis while he was in New York. He points out that the price for shares of the fund, today $24.64, is about the same as what the private market currently values Twitter, $24. Landis paid $17 per share last year for that Twitter stake, and he suggests that owning SVVC is another way to get in on the action.

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    • anyone thinking about this think very carefully look at the expense ratio of this fund. Since this is a capital venture type fund they may even be hosing investors for 2 & 20 - anyway you slice it this fund will not keep up with Twitter if it goes up - these closed end funds typically trade at a discount to NAV. Also Landis has been hording cash so much of assets are or were in cash which makes it harder to move the needle. Not to mention the market is aware of how much Landis paid for Twitter and what twitter might IPO at so that is already in the NAV pricing of SVVC. There is another CE fund out there I think it is GSVC watch out for that one too. Bottom line is if interested in twitter - look before you leap with these two methods of buying the IPO - you may do better simply buying the IPO - especially if there is a pull back like what happened with FB.

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