Distressed-debt funds swoop in as war pushes bond prices down Paywall https://www.wsj.com/articles/investors-start-buying-ukraine-russia-bonds-11646568002
https://www.elitetrader.com/et/threads/billionaire-with-no-leverage.356890/ Bought Rus bonds for $100M. Blew up. (Rus defaulted) ,,Nah. This must be it" Went in again, - all in. Made a lot of monies.
H2O Asset Management said it is keeping up with its openness to the Russian ruble in part because exiting its positions would be a gift to Vladimir Putin. H2O sent the letter after two of its funds with wagers on the ruble had record misfortunes of over 15% on Monday in the midst of market unrest after Russia attacked Ukraine, Bloomberg News revealed. The 1.39 billion-euro ($1.5 billion) H2O Multibonds fund and the more modest $50 million H2O Multi Emerging Debt fund declined by at minimum a further 3.5% on both Tuesday and Wednesday, as indicated by information gathered by Bloomberg. Coming into February, the Multibonds fund had 48.3% of gross exposure in the ruble, according to an investor document seen by Bloomberg. “We consider that selling Russian assets, among which currencies, at such discounted rates is a counterproductive ‘gift’ to buyers, among whom the Russian government,” London-based H2O said in a letter to investors seen by Bloomberg News. The March 3 letter addressed the performance plunge and said the asset manager was holding on to its Russian currency exposure for a number of reasons, including expectations that the foreign exchange market will keep operating and that the ruble is more likely to rise than fall. H2O also told investors it believes its positions are hedged by other market movements.
%% I would rather aged buy bull cr*p @ WMT than russian bonds. Comes in 50pound bags/LOL. Good market, not russian bonds/but WMT weathered bull cra*p. I sure that smells better than bonds from russia.
For sure, was just saying. But first, they would have to default, would like to see that happening. You know, a full menu of events & default for desert.
%% IF i understand the last russian bonds default , Nobert,+ i think i do[AUG 1998?]They had the money , but being an evil empire\ they just decided to rip off some investors. To repeat , i would rather buy bull cr*p @ WMT/50 pound bags, than evil empire /russian bonds