Jpmorgan Russian Securit... Share Discussion Threads

[loganair] 29/10/2022 18:45

What I've been hearing from one or two quarters is, if the Republicans manage to take the Senate as well as the House, the conflict in the Ukraine may be over within a few months.

For peace, what may happen is the U.S. pulls its support for Zelensky while at the same time offering Putin fully the 4 regions of Ukraine that voted to join Russia.

[hindsight] 29/10/2022 17:17

Day 247 of the master tactician 3 day genocide war, one day closer 1917 mk2



Lot videos of Russian tanks self destructing. Ukraine reporting they destroyed 38 Russian tanks in 2 days. No surprise, 155mm Excalibur are pinpoint accurate like Himars

Russia equipment losses and transfers to Ukraine continue at pace, now 7579, of which: destroyed: 4650, damaged: 169, abandoned: 304, captured: 2456

[1917again] 29/10/2022 16:50

Loganair, we still await the source of the 390,000 troops killed

Why cant you provide the link ?

Its starting to look like you were lying, so the question is why ?

Are you being paid to push Russian false propaganda?

[brwo349] 29/10/2022 16:03

--Ukraine is a Russia/Ukraine problem and needs to be sorted out, resolved by the Ukraine and Russia only and the rest of Europe and the USA need to stay out of it--

No the rest of Europe and the USA (and Japan and Australis, Canada and the rest of the free world) need to stay heavily involved. The end game here is the complete and utter destruction of the undemocratic, imperialistic murderous Russian regime.

[loganair] 29/10/2022 13:38

What is happening in the Ukraine rather reminds me of what is happening in N.Ireland at the moment.

Ukraine is a Russia/Ukraine problem and needs to be sorted out, resolved by the Ukraine and Russia only and the rest of Europe and the USA need to stay out of it, in the same way N.Ireland problem is a UK/Republic of Ireland problem and needs to be sorted out, resolved by the UK and ROI while the rest of the EU needs to stay out of it.

Maroš Šefčovi69; a Slovak is dealing with it from the EU side, a person who doesn't live in Ireland, wasn't involved in the years of conflict or there during the peace process and most probably doesn't even care about the Good Friday Agreement and therefore why there is no and not going to be any resolution in the matter.

[loganair] 29/10/2022 11:15

s19 - CLIG may vote for a capital rise if they were able to buy in to the capital raise which they would if via a "Placing" while the retail investor would not that is why I'd only be OK if via a "Rights Issue" where all share holders can take part.

If a "Rights Issue" I would also take part, therefore no dilution in my shares.

There is talk if a Capital Raise should happen then the current Russian investments with the frozen dividends be ringed fenced off with its own separate share structure within the new Trust. How may this work - the original JRS share holders could be issued with "A" class shares in the new trust which would give these share holders all rights over the ring fenced Russian stocks and associated frozen dividends.

[squeaky19] 29/10/2022 10:10

and to loganiar, why would you want the value of your current investments to be halved by any kind of placement?

Or are you not actually invested here at all?

[squeaky19] 29/10/2022 10:09

Thanks popit,

A few extra thoughts:

According to tinternet 60% of JRS is held by "institutions". CLIG is clearly the largest by some way. I'm very new to this game but do you really think they would vote for an issue at 40p that effectively halves the value of their current holdings? They would need the trust to double in value to recoup that. Surely that's a very long game?

Also, I hold my shares via ii and I already have two emails in my voting inbox offering me the chance to vote at the EGM. I've already done this on other shares and it is quite clear that ii expect the individual to choose how to vote. From another board I believe that it's a similar idea at HL but I'm not with them.

Anyway, I think will have to get off the pot and write to this chap. Thanks

PS the fact that I started werreting about a name change about a week ago should NOT be taken as an indication of any kind that I have the slightest idea what I'm talking about ;-)

[loganair] 29/10/2022 09:54

Popit - It seems to me reasonable to say that one of the reasons for changing the name is to take the word Russia out. With Russia in the name means institutional investors and U.S. investors are unable to invest in the trust.

Change in the name and mandate could be one if not the main reason why the 3 major share holders in JRS stopped their selling and still hold a little over 20% in the trust.

If the new trust goes for a capital rise, I'm OK with it as long as it is via a fully inclusive "Rights Issue" rather than a "Placing."

[popit] 29/10/2022 00:19

squeaky19 / loganair

Yes it is true that JRS is not at present seeking any capital raise that may dilute existing shareholders. The question though is what may come next after the name change and the mandate change? Is it perhaps the first of several steps in transforming JRS into something completely different? Is JPM going to all of this trouble to change the name and the mandate just so that they can invest the £16 million cash that JRS is holding? JPM are used to managing much larger sums in their various Investment Trusts as that is how they make their fees. Most of their Investment Trusts have Market Caps of hundreds of millions or over one billion. The Market Cap of JRS is only about £30 million, so you have to wonder how long will JPM be willing to continue with such a small Investment Trust?

So if they succeed in getting the name and mandate changed, it does not seem unreasonable to speculate that a new capital raise may be the next step. The price of the issue would probably be around the current NAV of about 40p.

I would also assume that a shareholder vote would be needed to approve any new capital raise, but this is no guarantee that it would not happen. Most shareholders will hold their JRS shares through stockbrokers such as HL or Interactive Investor, and these brokers will often just vote their total shares in favour of any resolution. The institutions who still hold JRS may also vote in favour of any new capital raise if they think it will benefit the Trust over the longer term. It is not their own money they have invested in JRS and so they will probably not be as concerned about a new capital raise as private investors.

If any JRS shareholder is concerned that this new name change and mandate may eventually lead to a new capital raise and dilution of their shares, they should send an email to Eric Sanderson the JRS Chairman at the email address given in the recent circular. He has explicitly asked JRS shareholders to write to him with any views or questions on what the company is proposing.

It would be a good opportunity to tell him and the JRS Board of Directors that we are completely opposed to any future capital raise or dilution of our JRS shares.

[loganair] 28/10/2022 19:55

According to the Minister of Defence of Russia, 82,000 of those who have been called up are now in the Ukraine and with in the next couple of weeks this number is expect to rise to around 150,000 men.

[loganair] 28/10/2022 16:00

On 28 October 2022, the Bank of Russia Board of Directors decided to keep the key rate at 7.50% per annum. Current growth rates of consumer prices as a whole remain low, contributing to a further slowdown in annual inflation.

The updated forecast assumes inflation for the end of 2022 to total 12.0–13.0% and takes into account the preponed indexation of utility prices among other factors. The Bank of Russia assesses that the partial mobilisation will serve as a deterrent to consumer demand and inflation over the horizon of coming months.

Annual inflation continues to slow down gradually. In September, growth in consumer prices decelerated to 13.7% in annual terms (after 14.3% in August) and declined, as of 21 October, to 12.9%.

Economic activity - High-frequency indicators point to stronger dynamics of business activity in the third quarter than the Bank of Russia expected. A growing number of enterprises are adjusting to operate under external trade and financial restrictions. This is facilitated by a gradual diversification of suppliers of finished products, raw material and components, as well as by import substitution processes and forays into new markets including a refocus on domestic consumers.

[essentialinvestor] 28/10/2022 15:12

Logan, if that is the case on McColls then I apologise and should have
double checked before posting.

[hindsight] 28/10/2022 14:31

Russia’s oil power ‘will never return,’ the IEA says

“The rupture has come with a speed that few imagined possible,” the IEA says in its 524-page report, which lays out three different scenarios for the decades ahead, depending on whether major countries stick to their green-energy commitments.

“Russian fossil fuel exports [will] never return in any of the scenarios…to the levels seen in 2021,” it says.

Instead, Russian oil and gas revenues will drop by more than half, from $75 billion last year to less than $30 billion in 2030

Russia going down the toilet at speed

[loganair] 28/10/2022 13:47

EI - That's incorrect again.

My last post on McColl's thread was 27th May - McColl's called in the administrators on the 9th May, therefore my last post was 18 days after McColl's went into administration.

EI - Almost every thing you're saying about me is untrue and factually incorrect.

[essentialinvestor] 28/10/2022 13:32

You happened to have sold again!, yet suddenly went quiet on that board
just a few weeks before suspension.


Utter and complete fantasist.

[loganair] 28/10/2022 13:28

EI - What I posted on the McColl's site was on the whole correct.

When they IPO in 2014 they were basically a corner shop / newsagent retailer and desperately needed to get out of these.

I thought their buying of the Coop stores was correct, however at the time I posted better to have paid for the deal via a Rights Issue rather then taking on more debt. If they had done that, then they most probably not have gone bust a few short years later.

The Deal to convert stores to Morrison Daily's was the right way to move forward - just the McColl's ran out of money before they could get this done and dusted.

Also by the time McColl's went bust, they had managed to have sold off 85% of their Newsagents in circa 7 years.

By the time McColl's went bust I had already sold my entire / 100% of my holding. And yes, it would have been better to have sold when the Chairman sold his circa 11% stake at the very top of the market for 295p per share.

Who bought these shares from the Chairman, the richest man in the Baltic Republics and he lost a damn site more then I did as by the time McColl's went bust he was still holding a considerable size stake in the company.

EI - Therefore I had a good level of understanding of what was going on when it came to McColl's.


If I think a company is going to go bust, then a sell out completely, sell 100% of my holding, however if I think a company/ investment trust is going to fall substantially in price then bounce back at some time in the future then I sell circa 90% of my holding, just keeping a small investment in place to be able to add back later which is exactly what I have done here with JRS.

[essentialinvestor] 28/10/2022 12:59

Logan, your posting on McColls indicates your level of understanding, which like
McColls is at zero.

Sold 90%!, of course you did.

[mattjos] 28/10/2022 12:43

Spot on correct.

[loganair] 28/10/2022 12:37

EI - The United States wants the war in the Ukraine to continue and wants China to invade Taiwan and wants N. Korea to go to war is because the U.S. as an empire is on its knees, it is on the edge of oblivion, on the edge of the end of empire that's why the U.S. is going to the extent it is - also the U.S. is again trying for regime change in Iran for the exact same reason.

Why - because China and Russia is perceived from their perspective as ambassadors for a multi-polar world and for a different financial system and a different way of conducting multi-lateral trade.

By China and Russia implementing it will kill the U.S. hegemony and kill the USD.

This is why we are where we are.

The U.S. economy only functions on cheap credit and money printing.