For example, the safe withdrawal rate changes over time
depending on equity valuations and the safe withdrawal rate can be vastly different depending on your age and expectations about Social Security, see two case studies I did recently at ChooseFI and last week here on our blog.
In other words don't count
on that cash being returned to shareholders or even invested in passive investments (private or public
equity) for the benefit of shareholders; A liquidation
valuation really isn't of interest here as Glassbridge is set to be an ongoing business and I can see an operating cash bleed for 3 - 5 years
depending on how long it takes the company to attract enough AUM to cover operating (read staffing) costs.