Skip to content

Investing in forinn is difficult

Because, you’ve got to deal with foreign ideas about what’s right and wrong:

If a UK company, working in the UK, under the usual UK ideas and strictures, found that the majority owner, one of the non-exec directors, had been arrested for nicking $100m from a bank, the shares would collapse.

This is not what has happened at Ferrexpo (FXPO). The arrest has, but the share collapse hasn’t – things in foreign are in foreign, d’ye see?

As the Telegraph says: “ The billionaire majority owner of London-listed iron ore pellet producer Ferrexpo has been arrested at a ski resort over $100m [£83m] embezzlement allegations in Ukraine.” So the arrest part is indeed true. But why hasn’t that share price moved?

12 thoughts on “Investing in forinn is difficult”

  1. Imagine being called Kostyantin Zhevago and not getting a PhD tho.

    He was part of Ukranian Prime Minister Yulia Tymoshenko’s party (a lady The Guardian once delicately descibed as a very wealthy woman, who gained her fortune in highly debated circumstances).

    Which is interesting to me, for the following reason: in Western countries the evil plutocrat billionaire class likes to work through hired politicians, dodgy charities, lobbyists and the like. Maybe buying a newspaper or two. Many of our politicians are wealthy, but they’re rarely filthy rich. Their bosses prefer to keep a low profile, and I can’t blame them – their policies are so popular, MP’s are buying stab-proof vests.

    But in Ukraine, the robber barons are more hands-on. Possibly because they know only too well how much baronial robbery goes on when they trust other Ukranians with money. It’s slightly different in Russia, where entrepreneur-gangsters have to donate to the United Russia party if they want to be involved with politics without tragically and suddenly making screamy death fall out of high building with open window, comrades.

  2. OT but forrin.
    Like to express my thanks for the suggestions on the Lost in Milan thread & to let you know that my pal’s hands are now filled with sufficient cash, we can start things moving to get her home. That was the difficult part because nothing can happen unless paid for.. And touching on that, does anyone know if prepaid debit cards without proof of identity are available in Italy? They are in some countries. Now she has sufficient money to buy one, I could credit from here.
    And some words of advice from one streetwise. If you’re travelling, never ever keep your documentation, your cash & your cards in the same place. It may be inconvenient or uncomfortable but distribute them around your body. Then you mightn’t lose the lot. And I’d say, always carry something to give up. The handbag with cosmetics & tissues & a meagre purse. A wallet with a few small notes & expired cards

  3. The handbag’s quite good BiT. Especially if you put a safety razor blade folded in a low denomination note in that tight little side pocket. A parting gift as you might say. But you can do the same with some wallets.

  4. Glad things are going well BiS.

    As for foreign investment, I’m reminded of the whinges I’ve seen from Zimbabwe about how no one will invest there. Indeed I saw mention of a token white farmer getting his farm back.

  5. The Other Bloke in Italy

    BiS, well done. This very morning, I intended to ask you how things had gone.

    You accused Tim of being a diamond geezer. You should be in the dock with him, facing the same charge.

    About prepaid debit cards, I am sorry I don’t know. If I get the chance to find out during the day, I will drop a note in to the next thread I see.

Leave a Reply

Your email address will not be published. Required fields are marked *