Investments

Investments we have made

Coventree Inc.

Returns in the Range of 15% with Limited Risk of Loss

Cash Store Australia Holdings, Inc.

Leading Payday Lender with Potential for Rapid Growth

IntercontinentalExchange, Inc.

Strong Cash Flow and Barriers to Entry with 22% Upside

SmartPros Ltd.

CEO Built Strong Track Record with Acquisitions and Increasing Cash Flow

Eagle Rock Energy Partners, LP

Vote No to the Proposed Recapitalization

Bank of Internet

Well-Capitalized with Fast Deposit Growth

MTN Group

Leading Wireless Operator in Fast-Growing Emerging Markets

Cheniere Energy Partners, LP

Long-Term Contracts Ensure Payment of 17.5% Dividend

Solar

Solar Cell Manufacturers Likely to Face Bankruptcy

Emerging Market Wireless Carriers

Under-penetrated Markets with Room for Rapid Growth

The Monetary Base

Expansion of the Monetary Base in the United States and Other Countries

More on Inflation

Examining Whether the Current Financial Crisis Will Lead to Global Inflation