Ahh, big write-downs due to external factors that the company could not have foreseen. Any management loves these as they can pack in a slew of other stuff that they would otherwise be responsible for. What’s a couple of hundred millions in 5 billions? Who is going to ask hard questions? And a situation as with the Russian war in Ukraine is an opportunity that shall not fall by the wayside. I expect any company to do this and I don’t blame one or the other. But investors should be aware of what they are investing in for real. Shouldn’t they?
Rudolf Huber was featured in those quality publications
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