Perspective of adding #Russianstock theme this week:
A) some of the cheapest valuations for large caps in our 40yr history investing, largest bank traded well below 1x PE, dividend yields hit 40% levels
B) throw the baby out with the bath water mentality generally is a buy
1/3
A) some of the cheapest valuations for large caps in our 40yr history investing, largest bank traded well below 1x PE, dividend yields hit 40% levels
B) throw the baby out with the bath water mentality generally is a buy
1/3
C) understanding in max risk situations, with plentiful unknowns, what is priced in and what is not.
D) ability to look through the clouds and assess the picture 2-3 years out.
E) realizing suspensions, may occur, locking ones investment up for a few years (this is ok for us)
2/3
D) ability to look through the clouds and assess the picture 2-3 years out.
E) realizing suspensions, may occur, locking ones investment up for a few years (this is ok for us)
2/3
F) dividends maybe cut for sanction countries
G) risks moderate over time and rerating occurs (sometimes quickly)
H) asymmetric trade on Thursday near lows was 3-4x upside and 30-50% downside
I) theme weighting max 20%, we managed to deploy 5%, 25% of max position
3/3
G) risks moderate over time and rerating occurs (sometimes quickly)
H) asymmetric trade on Thursday near lows was 3-4x upside and 30-50% downside
I) theme weighting max 20%, we managed to deploy 5%, 25% of max position
3/3
Russian Exit strategy:
1 week return of 75-125% scale down to full exit
2-4 years for 300-400% plus dividend yields of 100%
1 week return of 75-125% scale down to full exit
2-4 years for 300-400% plus dividend yields of 100%
• • •
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