Archive for July 20th, 2018

Red Notice: A timely book to read…

July 20, 2018

One of the early advantages about retirement is finally having time to read books that have little or nothing to do with my courses…

First up: was Red Notice.  Recommended by my son, long before this week’s Russia events and reactions..

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This was an engaging read … and provides an interesting back-drop to the current Russia bruhaha…

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In a nutshell:

Browder was a brash, recently minted Stanford MBA who moved to Russia and built Hermitage Capital … a hedge fund that rose to prominence as the biggest foreign investor in Russian businesses.

Browder leveraged keen financial analysis to identify market anomalies and undervalued assets … and had brass balls, utilizing aggressive strategies against Russia’s oligarchs and Putin’s government.

Predictably, taking on Putin ended badly.

Browder – and most of his team- got out of Russia, avoiding incarceration and physical harm.

But, one of his lawyers – Sergei Magnitsky – was jailed by the Russians, tortured in an attempt to get him to turn on Browder, and eventually beaten to death.

Browder turned Magnitsky’s death into a human rights case against Russia … and was the driver behind the Magnitsky Act which banned the perpetrators from the U.S. – establishing a blueprint for other human rights violators.

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The biggest takeaways were Browder’s keen investment analyses … and his gross underestimation of Russian brutality against perceived enemies of the state.

No doubt about it … Putin is one mean & nasty dude…

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Update: For more detail, see today’s WSJ editorial Donald Trump, Meet Bill Browder

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