What You’ll Learn
– History and business of Pendrell
– Quick valuation target
– My reason for buying Pendrell
I’m starting with a warning.
Illiquid, closely held, de-registration (suspending SEC reporting), susceptible towards an unfriendly shareholder environment. The negatives are significant and is only suitable for patient long term investors.
But I’m embracing the words of Mohnish Pabrai’s, “Heads I Win, Tails I Don’t Lose Much”.