Brilliant Performance of MIM ..Nearly 50% loss in 6 Months Yet another example of the investment brilliance of the Mittleman brothers...in just 6 months have lost nearly 50% of investment in Precog ....once you understand just how frail the standards are for estimating fair value, you might conclude that fair value is over estimated
Investment in Precog Capital Partners L.P.
On June 1, 2021, the Corporation invested $25.0 million in Precog Capital Partners L.P., an investment fund whose general partner is MIM, a wholly-owned subsidiary of the Corporation.
As a result of this investment, Aimia concluded it had control over the investment fund per the definition of IFRS 10 and therefore consolidates the fund. Aimia recognized realized fair value losses of $0.5 million and $0.3 million during the three and six months ended June 30, 2022, respectively,
as well as unrealized fair value losses of $7.7 million and $12.4 million during the three and six months ended June 30, 2022, respectively, in regards to the equity instruments held through Precog.
Refer to Note 10 for additional details.