The Ledger
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Leffell: VC-backed alternative investment platforms are run by techies, not investors
“Those firms had all raised a lot of money from venture capitalists, and none of them were investors. They were all techies. And the key difference from them to what we do is the quality of our investments were materially better.”
Leffell refuses any investment opportunity if counterparties rush his decision
“The other big coaching thing here is never rush. When somebody is rushing you to make a decision, back then it was enough to say I'm not doing it, and to this day I won't do it. If somebody's rushing me that you have to act now on a new idea, say what was tomo…”
Leffell: 10 East refuses investments in China, Latin America, and Russia
“We're not going to invest in China. We're not going to invest in the Far East. Not going to go to Latin America. Certainly not Russia. We will only invest in places where the rule of law is recognized.”
Leffell: 10 East achieved 20% return financing a Boy Scouts litigation firm
“So we were able to make a loan to a law firm And we were secured by the value of the claims that they were amassing. I think we had nine to one collateral coverage, and it generated a better than 20% return in a year and a half.”