Kinnevik excitement

 Who knew owning shares in a diversified Swedish investment company would be exciting?  Well, it is:

Kinnevik AB (KINV-B.ST): How the Company Secretly Financed an Employee to Buy Its Distressed Assets—and Why Agentic AI Destroys the Rest of Its Portfolio - NINGI Research

clarifications-regarding-claims-in-short-seller-report.pdf

Kinnevik AB (KINV.B-ST): The Company's "Clarifications" Raised More Questions Than It Answered. - NINGI Research

Plenty of share price movement as a result:

So, is the current share price fair?  50 SEK gives a market cap of about 14bn SEK.  From their latest annual report:

Stripping out the adjusted net cash, the market cap suggests we're valuing 28bn SEK of investments at about 7bn SEK.  Sure, the valuations are probably on the high side, but are they 4x what they should be?  Across the board?  Seems like an overreaction.

On that basis I've bought some more shares, not-quite-doubling my holding.  Will I regret it in a couple of days when the Q1 numbers come out?  Possibly.