Jpmorgan Russian Securit... Share Discussion Threads

[galeforce1] 10/3/2022 17:29

If in the West we seize Russian assets it is hardly surprising that the Russians seize our assets in retaliation. I can see why they feel justified in doing this. British companies with Russian assets (like POG, or Eurasia Mining) are very vulnerable IMO.

I feel uncomfortable about the way we are treating Ambramovic, who has owned Chelsea for 20 years, ploughed huge amounts of money into the team, has created many jobs and behaved like a model owner in most ways.

And what happens? Our legislature rubber-stamps a special expropriations act that allows us to deprive him of this and other assets without compensation. That's no way for a rules-based economy to behave and its damaging to our reputation.

But that doesn't worry our politicians, who are entirely focused on making sure that they get approving headlines this week in The Sun.

I'm sure the reason the Treasury called in the fund managers last week and pressured them to liquidate their Russia holdings (which will achieve nothing) is because Rishi Sunak doesn't want to outdone in the 'I hate Russia' stakes by his rival Liz Truss.

[smithie6] 10/3/2022 16:00

Such leasing companies could take Russia to an international court to get their money back, imo.

For other countries the decisions of such courts are imposed. But I don't know if Russia can just refuse to take part.

------

Russia can not continue for ever on its own imo. Isolated from uncensored internet, netflix, travel abroad, foreign smartphones, foreign laptops, foreign cars, foreign airplanes.....
Most Russians live close to Europe, they don't want to only have China or the Black Sea as their only possible holiday destinations !

At some time there will be an agreement imo & this crisis will be history, one day; imo.

(If the Russian conditions are only those which we know about I don't see why Ukr doesn't agree. One assumes that there are more Russian conditions, such as demanding that they control Ukr.

From bbc website
"For his part, the Russian foreign minister offered no concessions and repeated demands that Ukraine be disarmed and accept neutral status."

So, the big stumbling block is perhaps the part 'Ukraine must disarm'
ie. Russia insists I think that it takes over the Ukraine. I can understand Ukr not agreeing to that.

[loganair] 10/3/2022 15:22

The Russian Ministry of Transport has proposed retaining aircraft leased from foreign companies and paying for them in Rubles, a resolution published on the portal of draft regulations on Thursday states.

The document establishes a new procedure for the execution of lease agreements for foreign aircraft and aircraft engines amid the Ukraine-related anti-Russia sanctions.

Brussels gave leasing companies until March 28 to end current rental contracts in Russia. Reports then emerged that Russian authorities are discussing nationalizing Airbus and Boeing planes, which constitute the majority of the country’s civilian aircraft fleet.


Note - If the Russian Airbus and Boeing fleet is nationalised will mean the 2 aircraft leasing companies based in Republic of Ireland losing $10bln of their assets and the bond holders of these leased aircraft losing all their money.

[essentialinvestor] 10/3/2022 15:19

Anyone who thinks western companies suspending operations in Russia will keep paying
employees indefinitely are residing in la la land.

If Putin departs then everything has potential to change -an outside possibility at best.

[quepassa] 10/3/2022 15:11

many, many major USA organisations have ceased operations connected to the country concerned. Including major financial players such as MasterCard and Visa. Wouldn't surprise me if more were to follow.


still can't find the promised recording of the 2022 AGM on the jpam/jrs website.

it's been almost a week now.

they said they would put it on their website "after" the meeting.

hmmm....


all imo. dyor.
qp

[loganair] 10/3/2022 15:07

The US bank is relocating the staff after they sought to work in a different location, one person with knowledge of the matter told Bloomberg.

Goldman Sachs' relocation of staff from Russia is intended to be temporary, a second person familiar with the matter told Bloomberg.

[topazfrenzy] 10/3/2022 14:55

J P Morgan may have to follow?

[topazfrenzy] 10/3/2022 14:55

Goldman Sachs to cease operations in Russia

Investment Bank Goldman Sachs will cease its operations in Russia, making them the first major player from Wall Street to exit the country, Bloomberg reports.

“Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements,” the company said in an emailed statement.

“We are focused on supporting our clients across the globe in managing or closing out pre-existing obligations in the market and ensuring the well-being of our people.”

The Wall Street powerhouse has maintained a presence in Russia in recent years, but the country doesn’t amount to a meaningful portion of its global banking business. At the end of 2021, the firm’s total credit exposure to Russia was $650 million, most of which was tied to non-sovereign counterparties or borrowers.

[glavey] 10/3/2022 14:31

The V equals Value. It's what you get. The price is what you pay to get it.

[se81] 10/3/2022 13:43

I don’t understand the focus on the NAV/premium- all the NAV gives you is your downside risk? (Think most are aware they’ve made a near binary bet here)

[quepassa] 10/3/2022 12:48

44.4p NAV

Share price 120p

Premium to NAV - 75p or c. 170%


170% Premium.




Never seen such an astonishing premium-to-NAV before

ALL IMO. DYOR.
QP

[loganair] 10/3/2022 11:33

Evraz has suspended its share trading on the LSE.

[topazfrenzy] 10/3/2022 09:49

UK freezes assets of seven Russian oligarchs including Roman Abramovich

Others added to sanction list are Igor Sechin, Oleg Deripaska, Andrey Kostin, Alexei Miller, Nikolai Tokarev and Dmitri Lebedev




Pretty serious stuff now

[loganair] 09/3/2022 21:47

Russian banks are opening retail accounts dealing in yuan as China eyes a chance to dominate the country's economy.

Russia's second largest bank VTB Bank has begun offering a Chinese yuan savings account with an interest rate of up to 8pc.

The move comes days after it emerged that a string of Russian lenders including Sberbank and Alfa Bank are planning to use China’s UnionPay system to provide customers’ bank cards after Visa and Mastercard boycotted Russia in response to its invasion of Ukraine.

[mattjos] 09/3/2022 21:37

i hear same loganair from my Russian acquaintances

[loganair] 09/3/2022 21:29

The majority of Western companies say they are only temporarily stopping production/trading in Russia and say they'll keep paying their local Russian staff. Therefore these companies are not leaving Russia and are not making any local Russians unemployed, therefore the assets of these companies in Russia will not be nationalised.

Talking with people I know in Russia say their local McDonalds is working as per usual and the Next and M&S in their local shopping centre are also open and working as usual with their shelves full of stock.

[topazfrenzy] 09/3/2022 20:58

Russia moves towards nationalising assets of firms that leave

Russia's ruling party said it's taken the first step towards nationalising assets of foreign firms that leave the country in the wake of economic sanctions over Ukraine.

United Russia said the commission on lawmaking activity had also supported a bill allowing for firms more than 25pc owned by foreigners from "unfriendly states" to be put into external administration.

"This will prevent bankruptcy and save jobs," it said.

Dozens of companies have suspending business in Russia or severed ties with the country altogether, prompting a backlash from Moscow.

According to the proposed bill, companies that have announced they're leaving Russia could refuse to go into administration if within five days they resumed activities or sold shares, providing that the business and employees remained.

Otherwise, a court would appoint a temporary administration for three months, after which the shares of the new organisation would be put up for auction and the old one would be liquidated.

[topvest] 09/3/2022 20:57

Anyone think Biden is doing a good job in this crisis? - he doesn't seem to get off his backside or have many friends.
Boris and Macron seem to be the main players in the West!

[smithie6] 09/3/2022 18:09

'lowest cost producers'

[loganair] 09/3/2022 17:50

Rick Rule says he is greatly increasing his Russian exposure, greatly increasing his position in Russian stocks.

He says to buy a basket of Russian stocks if you can over come your moral objections as Russia has some of the lowest cost resource producers in the world.

He goes onto say on normalisation these stocks have the ability to become 10 baggers.

[soleman1] 09/3/2022 17:21

Correction: NAV increase 59x

[soleman1] 09/3/2022 17:20

No mention of ridiculous when the price dropped 80% with the moex closed though! To those who consider this to be trading rich as its above NAV watch for the first NAV RN the day the moex reopens. Some of the biggest companies not just in Russia but the world have an adr estimate down 99.5% from the last closing price. It's going to be a red day when things open but consider if the 99.5% becomes a 70% down day. The NAV just increased 30x, this is the trade.

[irkin] 09/3/2022 17:19

"Anyone investing in JRS should be ashamed of themselves" - Why? Not everyone is compelled to nauseating displays of virtue signalling because they believe everything they read or hear from Western governments & their mainstream media lapdogs. The Russia/Ukraine situation is far more nuanced than being portrayed by relentless lying and hypocritical Western propaganda.

I'm willing to bet that almost everyone on this board 1) owns investments that are in someway involved with China and 2) owns stocks involved with the USA even though it has killed 350,000+ civilians during what it ironically calls it's ongoing "War on terror".

I assume anyone who believes JRS investors "should be ashamed of themselves" will be divesting all Chinese/USA related investments immediately. Good luck with that.

[quepassa] 09/3/2022 15:31

1025 - best post of the day