Stung by 50% Sberbank Loss, Motley Fool Stands by Russian Lender
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Bought shares at $2.20 in March 2014 compared with $1.12 today
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Motley Fool fund has outperformed 84% of peers year-to-date
Bill Mann isn’t letting an almost 50 percent loss on his investment in Sberbank PJSC get him down.
The chief investment officer at Motley Fool Asset Management LLC remains convinced that Russia’s biggest lender, which has been hurt by a recession and economic sanctions, will rally. And most analysts who cover the stock agree.
Mann paid the equivalent of $2.20 when he purchased Sberbank’s Moscow-listed shares in March 2014. He thought he was getting a bargain, buying around the time the stock tumbled to a four-year low as President Vladimir Putin annexed Crimea and investors fled from Russian assets. Now Sberbank sells for $1.12 and Mann has 2.4 percent of his $381 million Motley Fool Independence Fund invested in the lender. The fund has outperformed 84 percent of its peers this year even with the loss on Sberbank…
Stung by 50% Sberbank Loss, Motley Fool Stands by Russian Lender
