Sep. 24 at 3:34 PM
$MAIN - Why the premium is earned, not scary
Main Street just invested
$14M in Financial Risk Group (first-lien debt + equity). Tiny vs. their
$7B+ portfolio, but exactly what makes MAIN special:
• Debt → steady income that supports the monthly dividend.
• Equity → NAV growth kicker if the company scales or exits.
• FRG’s biz = compliance & risk management → sticky, regulation-driven, less cyclical.
This is MAIN’s model: keep stacking boring, secure wins that compound quietly over time.
👉 For younger investors: don’t let the “premium to NAV” scare you. MAIN trades at a premium because it’s earned.
• Its dividend is well-covered and reliable.
• Its NAV actually grows, not erodes.
• Its track record shows disciplined management.
Bottom line: Selling just because MAIN trades rich misses the point. The premium exists because MAIN consistently proves it can deliver income + growth without taking reckless risks.
🤷🏻♂️
