Fondul Proprietatea, one of the largest closed end funds in the world, is becoming interesting. In the last few days Romanian index and Fondul are down 5%. The reason for the sell off is Romanian bank shares. The sell off was caused by speculations of new asset tax on banks to be imposed by RomanianContinue reading “Time to get back to Fondul Proprietatea”
My latest idea
Egyptian Pound is the most undervalued currency in EM
Please read my Egyptian Pound published here last week 23 May, 2017 FT.com Egyptian pound ‘cheapest in EM’ after central bank hikes rates – RenCap Better late than never.Analysts at emerging-market specialists Renaissance Capital had practically given up hope of an interest rate rise from the Central Bank of Egypt after predicting one earlier inContinue reading “Egyptian Pound is the most undervalued currency in EM”
Investment idea: Long Egypt Government bonds
Investment idea: Invest in local currency Egypt Government debt instrument yielding 16% + benefit from the currency comeback after a steep devaluation Summary: Last year Egypt enacted reforms required by IMF. IMF provided funding to Egypt Further reforms laws are being enacted As a part of the IMF lead reforms Egypt devalued its currency by 100%.Continue reading “Investment idea: Long Egypt Government bonds”
My favorite Greek play
Greece is still not recovering. It will. Especially when they finally agree to write off part of the debt as IMF is repeatedly suggesting. My favorite Greek recovery play is OPAP. You get a 6.5% dividend yield for waiting and an upside from Greek recovery and from implementation of VLT machines Until recently most analysisContinue reading “My favorite Greek play”
Czech koruna trade
Speculators piled in over 70 billion into CZK in anticipation of CZK appreciation after the Czech National Bank currency support ends. It ended today. CZK did strenghtened a bit. Now expect the reversal. THe speculative position is very significant and when they start closing it, expect strong short squeeze. CZK could devalue significantly. Go longContinue reading “Czech koruna trade”
Elliot Associates Romanian play
Wood and Co research on Fondul Proprietatea published 2/22 We continue to regard Fondul Proprietatea (FP) as one of the most attractive investment opportunities in Romania. We see it as a play on: 1) the restructuring of state companies and corporate governance improvement; and 2) the eventual longer-term recovery of energy prices; as well asContinue reading “Elliot Associates Romanian play”
Perfect summary of the current market stage
The two critical variables are the US fiscal program that will finally pass, and the extent to which the Fed tightens in response. Investing in the US — and everywhere else, given the weight of the US in the world — will for the foreseeable future revolve around those variables. If we get a bigContinue reading “Perfect summary of the current market stage”
I am closing my EDL idea at 80% IRR
I am closing my EDL idea published at SA (see the link below). The idea made 60% return and 80% IRR. As expected Disney made an offer for EDL at 2.00 EURO per share. The price at the time of writing the article was 1.24. Hope you enjoyed the ride. Idea for this week –Continue reading “I am closing my EDL idea at 80% IRR”
Fit Investment Ideas 