Topic: How To Invest

What is Pat’s commentary for the week of October 26, 2021

Article Excerpt

Dear Inner Circle Member, SPAC prospects are improving, judging by two new ones that seem to hold some promise for aggressive investors. The first and less controversial of the two is Forbes, owner/publisher of Forbes magazine and its Forbes.com website. Forbes announced in August that it will merge with Magnum Opus Acquisition, symbol OPA.UT, a SPAC that began trading on New York in March this year. The stock has moved up from around $10, the standard SPAC starting level, to the current $10.55. When the merger is complete, the stock will trade under the FRBS symbol. Forbes was a private, family-controlled company in 2006, when investment group Elevation Partners bought a minority interest in it. Rock star Bono of the Irish group U2 is a co-founder and former Managing Director of Elevation. In addition to Forbes, Elevation had holdings in Facebook and Yelp, Inc. In 2014, the Forbes family bought out Elevation’s interest. Then a Hong Kong-based investment group, Integrated Whale Media Investments, bought…