Fit Investment Ideas

http://seekingalpha.com/article/4034808-omv-petrom-special-situation-oil-play-due-mishandled-spo-major-shareholder    

Rember Grexit. At that time Euro came under severe selling pressure because people were worried that Greece exit from the EU could result in other departures. That is now all forgotten. Surprisingly, BREXIT so far resulted only in week GBP, because the markets have been focusing on what will happen to Britain after its departureContinue reading “No brainer trade for 2017”

Fondul Proprietatea announced competion of the 6the buyback in which the fund has repurchased 731.9 million shares. The share will be cancelled at the next shareholder meeting. Yesterday Fondul announced commencement of the 7th round of buyback in which it will repurchase 409.6 million of shares. The fund is authorised to purchase up to 25%Continue reading “Fondul starts 7th buyback programme”

7 minutes worth your time http://www.bnn.ca/video/this-argentina-based-oil-company-has-monstrous-upside-potential-activist-investor~955026

From Wood and Co Research note released this morning: Fondul Proprietatea has disclosed the NAV for end of June at RON 1.1445, up 5.4% from previous NAV disclosed on 9 June (just after the reduction in par value to RON 0.85 per share). The reason for the increase in the NAV is the revaluation ofContinue reading “Fondul NAV up 5%”

Fondul Proprietatea is one of the largest closed end funds in the world. The largest investor in the fund is actvist investor Paul Singer. Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea SA (“the Fund”), announced yesterday that it has sold the entire participations ofContinue reading “Paul Singer´s Fondul restructures its portfolio”

FONDUL PROPRIETATEA WELCOMES HIDROELECTRICA’S INSOVENCY EXIT  AND CALLS FOR ITS SWIFT IPO Bucharest, 21 June 2016 – Franklin Templeton Investment Management Limited United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea SA (“the Fund”), welcomes the closure of the insolvency proceedings of Hidroelectrica following the syndic judge’s decision on 21 June.Continue reading “Catalyst for Fondul Proprietatea investors”

  Basic characteristics Dividend yield of 8% 2017 PE of 12.4 No debt, positive cash balance of 100 mln E ROE of 15% EV/EBITDA of 7 Not in the price: further significant potential from VLT – the investment was made, OPAP waiting for the licence. Plan B – OPAP already lunched BIT arbitration against Greece FromContinue reading “I am buying OPAP”

I am buying Unicredit. Below is an outline of Morgan Stanley report that nicely summarises the case. 1st Take: CEO Resigns   Unicredit’s CEO steps down after an extraordinary board meeting as “the conditions are now such that it is time for a change at the top of the group”. Mr Ghizzoni agreed to stayContinue reading “Buying Unicredit”

Excellent LEX article from FT. Simple common sence reasoning why to buy into Barclays restructuring. We are long Barclays.   April 27, 2016 12:55 pm Barclays: a life more ordinary It is plain to see why chief executive Jes Staley wants to turn Barclays into a transatlantic bank targeting the US and UK. Return onContinue reading “Barclays – why to buy”