Related-Party Transactions: A Practical Screen
Eleven red flags, ranked by how often they preceded permanent capital loss in our own coverage history. Most are visible in the annual report if you know which schedule to open.
Related-party disclosures live in the notes to the accounts, usually in the last third of the annual report, and they are written to be skimmed past.
Read them first, before the chairman's letter.
None of the flags below is proof of anything on its own. Three of them together, in one filing, has preceded a permanent loss in our coverage more often than any valuation signal we track.
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This note is research, not advice. It does not account for your financial situation or objectives. Positions described may be held by Altius Compounding or its principals.
