May 7, 2021 | Lessons To Learn From Michael Lee-Chin and Mean Reversion
Danielle Park Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book Juggling Dynamite: An insider s wisdom on money management, markets and wealth that lasts, and a popular daily financial blog: www.jugglingdynamite.com
Michael Lee-Chin started his money management career as a financial advisor with Investors Group in Hamilton Ontario in 1979. In 1987, he bought Kitchener-based Advantage Investment Council which he renamed AIC and developed it into a mutual fund company that focused on buying the shares of other investment management companies and banks. The timing was perfect. Assets under management billowed with the rapidly rising stock market into 1999.
No fear of missing out : Billionaire Michael Lee-Chin 50% in cash amid bubble concerns
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Jamaica Observer s webinar panellists point to integrity, determination, focus as key factors for success
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Portland Barbados Limited, part of billionaire Michael Lee-Chin’s Portland group of companies, is seeking to raise up to US$4 million, or nearly J$600 million, in a bond offer. Some shares in NCB Financial Group Limited, NCBFG, and the Lee-Chi- owned swanky Trident Castle villas in the parish of Portland in Jamaica – the parish of Lee-Chin’s birth – are being put up as security for the bond.
The amount of NCBFG shares being used as collateral is equivalent to 60 per cent the value of the bond debt being sought, but with a 40 per cent margin. The prospectus for the bond offer notes that AIC Barbados, the gurantor of the senior secured notes placement, will secure the offer with the first mortgage over Trident Castle, as well as “execution of Jamaica Central Securities Depository pledge form by the guarantor in relation to NCBFG ordinary shares with market value equivalent to 0.6 (times) the principal amount; subject to a maintenance margin of 0.4 (times)”.