We're posting up notes from the 2013 Value Investing Congress in New York. Next up is Harvey Sawikin of Firebird Management. He presented "A Russian, State-Owned Energy Company, and It's a Buy!" His pitch was on Gazprom Neft.
Harvey Sawikin's Value Investing Congress Presentation
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22% net annual returns
over last 19 years.
Gazprom Neft
SIBN.RM only $1.5M ave daily shares traded. Illiquid.
Also risk of high oil taxes by govt.
one of the most efficient of Russian oil and gas companies.
50% of CAPEX in Russia is
lost or stolen. One pipeline they estimated could have been paved with caviar,
it was so expensive.
Other Ideas
Tallink: Estonian ferry operator
Kazkommertsbank (KKB):
Trades in London. Bank in Kazakhstan.
Be sure to check out the other presentations from the New York VIC here.
