Emerging markets, and especially Russia, should trade at a wider discount due to the geopolitical risk involved, said Bill Browder, author of ‘Red Notice.’ Browder’s hedge fund Hermitage Capital was the largest foreign investor in Russia until it was targeted by Vladimir Putin for calling out theft by the Russian government. His offices were ransacked and he was forced to flee the country. Browder’s lawyer Sergei Magnitsky, however, chose not to leave Russia and was subsequently tortured and killed. In response to Magnitsky’s death, Browder pushed the U.S. government to pass the Magnitsky Act in 2012 which initiated sanctions against Russia for the first time in 35 years.
Bill Browder: Emerging Markets Shares Way Overvalued
Apollo Global is no longer the “king of distress”: Josh Harris
Historically, Apollo Global has been known as the king of distressed investments for its track record of taking distressed assets and turning a profit on them. However, the pandemic has changed the firm's approach to the markets, at least temporarily. Q2 2020 hedge fund letters, conferences and more At CNBC's Institutional Investor Delivering Alpha Conference, Read More