I think your preaching to yourself here sceg
Maybe I got you wrong. You were just being facetious. ACAS has been in some kind of funk for some time now. I guess the past quarter Earnings, now withstanding increase in NAV, put a lid on the SP. It's been pretty much lighter volume and steady decline.
Seems to me that little major retail buying (except for buybacks) is going to come in until the company starts paying a dividend one way or another. Anotherwords, SP growth alignment with NAV growth has hit a roadblock. JMHO. Keeping fingers crossed that a restructuring that will provide shareholders with a dividend will happen sooner than later .
Will see a drop in NAV from ACAM and could see more if Market sells off and ACAS's equity investments in companies sell off.
The problem with the market selling off is that ACAS is heavily invested in the equities of many public companies which could would effect NAV valuation.
The top bananas who hold token stock in this company raped the shareholder to the tune of $6.6 million this past quarter in Management Fees. That's almost double the amount reported for the same quarter last year. They are getting rich on SPO's while shareholders see their valuations dwindle with the reductions in dividends.
The whole thing sounded a little subdued. But he did distinguish how ACAS distinguished itself from the mainstream BDC's through it's diversification of Assets, etc.