Levenstein, Vaceva & Company’s (“LVC”) job is to find and manage great income investments and return its investors’ principal investment expediently. While many financial product companies claim terrific results, few make a priority and practice of returning investors’ money on a monthly basis. That is LVC’s top priority and we have done it every month since we started our fund, Mongoose Income Fund, LLC (“MIF”). MIF takes advantage of certain corporate tax structures to make principal and profit without double-taxation in income and dividends.
Conflicts, longevity and hubris are shareholder enemies. Wall Street Firms unavoidably have known and understandable conflicts in recommending their own investment banking clients’ securities issues. While capital formation on Wall Street may be good for society, buy and sell-side managers are sometimes not good for their investors. Longevity and Hubris are equally virulent but less obvious problems. It is rare that professional managers will divest themselves of over-priced assets or divisions to sell over-priced assets at the expense of lost income during boom times. This was true from the seventeenth-century tulip bubble in Holland to the millennial real estate market collapse. Looking retroactively at a worthless Tulip Bulb some people comforted themselves by knowing it was once valuable.
To protect our investors LVC prioritizes and institutionalizes the return of investors’ money every month. Our investors trust us when they write their first check to the fund. LVC can return that trust by putting the capital back in their hands and under their control as soon as possible. For those investors for whom it makes sense to do an add-on investment or reinvest the monthly distribution checks, that option generally remains open.
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