Russia Sanctions: Q&A and Resources
The Russia sanctions resulting from the invasion of Ukraine in February have created confusion in the market. These sanctions are the first to affect many publicly traded equities on US and European Exchanges in recent memory. I am writing a Q&A today covering the mechanics of what is happening from my perspective.
Looking for Value in Emerging Market Banks
A great myth in investing has been the homogeneity of Emerging Markets. Once you leave North America, Western Europe, and Japan, it’s like the world is all the same. Whether it’s Emerging Market banks, oil companies, or grocery stores, nuances are irrelevant.
Opportunities in Turkish Stocks in the Eye of the Storm
Perhaps it is the world we live in, but the economic events in Turkey over the past couple of years would usually make bigger headlines. Although the world is more occupied with start-ups, memes, and crypto, a storm and opportunity in Turkish stocks are brewing.
Over the last 24 months, the country’s currency, the Lira, has lost nearly half its value. The stock market has lost about a quarter of its value in USD terms, and inflation is currently near 20%. Yet, the biggest headlines regarding Turkey are bitcoin exchange frauds.
European Bank Stocks, Moral Hazard and Untangling Bank Regulations, Part II
Following up on last month’s piece, we’re going to put the theory to numbers with an example to illustrate the impact of capital rules and the various levers they apply on bank stocks. After that, we’ll look at a couple of European bank stock ideas. If you didn’t read the last post, I recommend you do that first.
European Bank Stocks, Moral Hazard and Untangling Bank Regulations, Part I
Published on March 26, 2021 Time is a bit warped in the COVID-continuum. Still, some of us may remember a little less than a decade ago when European financial stability occupied major headlines for what seemed like an interminable amount of time. Bank stocks there were going to implode, and Europe could not get out of its own way to stop them. Amidst increasing regulatory and product complexity,…
Beyond Gazprom Stock and The RSX ETF
The Investment Case for Russia Right Now, Part 2
Following last week’s piece, I wanted to delve into some specific names in Russia, both to consider and to possibly avoid. The background risks and tailwinds discussed in the last post apply to all of these names and should be incorporated into any analysis.
Beyond Gazprom Stock and The RSX ETF:
The Investment Case for Russia Right Now, Part 1
One cannot write long about international and Emerging Markets investing without covering Russia. Russia is a member of the BRICS ensemble and, back in the ‘90s, was the first home-run emerging markets trade of the modern era. Many EM veterans cut their teeth in the ‘98 Russia default and its privatizations earlier in that decade on the equity side. Perhaps ironically, the Russian market’s lack of excitement today makes many of its companies a compelling opportunity now.
The Recent Investment Cycle in Greece
…and Three Greek Stocks to Consider Now
Nearly four months ago, I published two posts explaining how investors can understand and take advantage of market cycles. However, the real challenge and opportunity are in execution, so today I’ll cover an example of an actionable cycle in Greek stocks to make the theory tangible.
