My understanding is that Enstar is what emerged from a bankruptcy reorganization. They plan to buy a business at some point, but in the mean time, it is purely an asset play. BTW, the current management is not the one that was involved with the company's prior difficulties. I know it seems strange that you're getting more than a dollar's worth of value for a dollar, but virtually no one knows about this company. It's too small for institutional ownership and it's traded on the OTC Bulletin Board (they've applied for NASDAQ listing), so it's obscure, to say the least.It doesn't seem to make sense that some closed-end funds trade at discounts to net asset value, but this happens regularly. Go figure.Congratulations: 10 years later, ESGR is a 10-bagger!I ran across your posts when trying to find out a little bit more about ESGR. I actually own a few shares--this is another case of my "buy stock, research stock" strategy. I see that Bill Mann owns it, too, so that is some comfort. I'm curious as to why it's so thinly traded. Anyway, kudos to you for spotting it early. I wonder how you found out about it. Got any other tips? ;-)
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