Tuesday, September 27, 2022
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Exiting Russian / Ukranian positions, risk of invasion not priced in – Deep Worth Investments Weblog


I’ve determined to promote up on most of my Russian / Ukranian shares.

HYDR, FXPO, SIBN, RSTI, GLTR.

I’m holding on to FEES (Russian Electrical energy grid Yield 8.5%+, P/E <4 and P/B<0.3 (I can take the ache on this), and GAZP as 50% dividend payout information introduced right this moment implies *probably* a really excessive yield.

I’m more and more involved there might be an invasion/incursion in Ukraine. This build-up appears lengthy/ sustained for a ‘coaching train’. In the event that they go house with out doing something Putin will look weak.

I additionally be aware final 12 months their western district held intensive coaching workouts as nicely.

He might be particularly cautious of discuss of Ukraine becoming a member of Nato, in Russian phrases that is equal to Canada becoming a member of the Warsaw pact – one thing that may’t be allowed to occur!

To me, army motion just isn’t within the RUB/USD trade charge and isn’t within the value of shares. So till the mists clear I’ll get out and await readability. There aren’t prone to be any main constructive catalysts quickly, so at worst I miss a number of % of acquire over the subsequent month or two while managing my danger. I’ll even have the ability to snatch a fast, small profit from this, although its actually being executed for danger minimisation.

Laborious to know methods to name it – I initially considered this as western scaremongering. This occurs, we acquired many alarmist headlines when Russia began sending bombers in the direction of UK airspace. What was by no means stated was that NATO by no means stopped testing Russia’s air response (however this will get no press).

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