New position Emergent Capital EMG 100%-150% upside

Just bought some Emergent Capital at $2.90 a share (yet another truly awful fill) -7.4% portfolio weight EDIT 8/11/2016 *Cut to 3.7%*.  This, in essence is a portfolio of life insurance policies.  It is trading at a market cap of about $76m.  The NAV is $220m so there is the potential for a near tripling in value.

This has been written up on Seeking Alpha and in the Value Investor’s club.  I havent read the Seeking Alpha one (no subscription).

The key facts are:

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