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    Tourmaline began trading today

    No matter how long you’ve been in this business, it’s a feeling that never gets old: the satisfaction of identifying, analyzing, investing and then watching a private company come to fruition with an IPO and significant value creation for shareholders.

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    Which explains why there was an especially upbeat mood in our office this morning as Tourmaline Oil Corp. began its first day of trading today on the TSX. As we’ve referenced in earlier blog posts, (The
    titan nobody knows
    and Mike Rose: positioned to profit from the great recession) we were participants in Tourmaline’s first capital raise in 2008, along with several follow on private placements.

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    The titan nobody knows

    This morning’s Report on Business in the Globe & Mail has a two-page spread on Mike Rose, the oil patch entrepreneur and CEO of Tourmaline Oil Co. who, according to the article, is “the hottest star in the energy business”.

    Though Rose is anything but a household name, readers of this blog and clients of Newport Partners may remember his name from our blog post last March, Mike Rose: positioned to profit from the great recession.  Rose is an entrepreneur we have been backing for several years as we participated in Tourmaline’s first private placement and subsequent offerings.

    With a two-page spread in the Globe & Mail, our ‘private’ investment is certainly becoming more public — with an IPO likely down the road.

    Here is a link to the article, An oil patch pitching ace.


    Mike Rose: positioned to profit from the great recession

    I blogged a couple of weeks ago about the entrepreneurial thinking of money manager, Tye Bousada in my post, How entrepreneurs — and smart investors – really succeed. I was inspired by a New Yorker article written by Malcolm Gladwell, entitled The Sure Thing.

    The premise of the article being that successful entrepreneurs are not really risk takers, as the conventional view suggests. Rather, an entrepreneur’s strength is in “occupying a ‘structural hole'”, a niche that gives him a unique perspective on a particular market” and acting decisively to take advantage of it.

    Here’s a related story of a seasoned entrepreneur who stands to profit from this great recession – not in spite of challenging economic times, but rather because of the turmoil and his ability to take advantage of it.

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