Actually, the state of Alaska Department of Revenue beat the “smart money” to. From Q1 2018 to Q2 2018 Alaska increased its investment in ENDP by nearly 250%. Again, the stock has nearly doubled since May and likely has more room to run. What a major coup for Alaska and a testament to the fund’s due diligence and forward-looking analysis. How Alaska out-smarted the “smart money” could become the stuff of legend. Who knows, maybe Loeb, Ackman or Stanley Druckenmiller will pile in later.
