MYNLD’s owners (Anthoni Salim and the Consunji Family) are some of the most adept stock market operators that we have in this country, and the company is ‘faced’ by MVP, who has a long resume of capital market experience to justify his role in this transaction. I’m going to dig further into this IPO once the final price is known, but (for me) the price won’t have that big of an impact on my interest. Water concessionaires are not a part of my investment thesis, so I’m not about to start ripping up some of my other trades just to make some dry powder for this deal. But even if this kind of company was something that was part of my thesis, it fails as a potential investment (for me) because I invest for the long-term and I do not trust MVP to be the steady hand of growth that I usually look for when making big bets in infrastructure. It’s entirely possible that my own prejudices against the sector and the management team will cause me to miss out on something that will list and eventually get PSEi inclusion and do fantastically well over the next year or two, but that’s a risk that I’ve learned to take after all my years of investing in this market. Maybe it’s a dumb nuance of my own personal system. It does almost feel like a superstition at this point, but it works for me, just like my lucky underwear.