Strong framework for understanding DAT strategy shifts. The mNAV metric clarifies way more than traditional valuation models do, because it captures the premium companies earn for operational execution, not just asset holding. I've seen similar dynamics in precious metal holdings where managemnt quality drives premiums, but the compounding mechanicthrough share issuance at premium is genuinely novel.
Strong framework for understanding DAT strategy shifts. The mNAV metric clarifies way more than traditional valuation models do, because it captures the premium companies earn for operational execution, not just asset holding. I've seen similar dynamics in precious metal holdings where managemnt quality drives premiums, but the compounding mechanicthrough share issuance at premium is genuinely novel.