They made a lot of bad investments. It's a pretty common story: a PE firm does well initially and thinks they have the magic touch, so they raise much bigger funds, get sloppier in their investments, and end up taking a bath.

It does't mean that all of their investments go south. WTC was a good one for them. However, there are companies like Nextag where they paid a premium right at the peak for a company that was maxed out and had high external risk factors (regulatory and platform).

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ECMGN Therapy Silicon Valley:
Depression, Neurocognitive problems, Dementias (Testing and Evaluation), Trauma and PTSD, Traumatic Brain Injury (TBI)

How do you know that?

No internal knowledge, but looking at the growth that WTC has seen I'd gather that it's doing well. It's been bantered around what they may do for an exit, but right now they are probably happy with the FCF.

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ECMGN Therapy Silicon Valley:
Depression, Neurocognitive problems, Dementias (Testing and Evaluation), Trauma and PTSD, Traumatic Brain Injury (TBI)

agree, impossible to tell with a PE, correct?

I think I speak for everyone when I say that we would love to hear h2ofun's ramblings on this subject.

They also took out a $220mm dividend recap last year. Purchase price was never disclosed so who knows what their real basis and IRR are.

He's currently running a 3 min mile thanks to powercranks.

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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.