Good afternoon

Good day!

Monthly report on my portfolio.

In September there was a lot of noise about the purchase of Tinkoff Bank by Yandex. I won’t get too clever about this, because hundreds of guru-investors have already done this before me 😂. I believe that time (at least a year) is needed to evaluate the results of this merger/acquisition. The deal has not even been completed yet, the offer to minority shareholders has not been announced, so there is no point in guessing, you just need to wait. Perhaps Tinkoff could grow faster on its own, but time will tell; perhaps Yandex, having solved the problem of the financial component in its ecosystem, will show impressive development. For the YNDX and TCS(G) instruments, the position is the same - hold and don’t twitch 😌.

In general, in September I did without major purchases, the only thing I took was 2 stocks of HHR at $21. I'm waiting for a dollar below 75 RUB, ideally 70-72 RUB. I am planning the next additional purchases for Baozun, Cargurus, perhaps there will be new securities, which I will write about after the acquisition.

Headhunter appeared on the Moscow Exchange in RUB, most likely I will get it, but not in Tinkov, but in Sberbankbroker, since the founder of Tinkoff only has the St. Petersburg Exchange, and converting RUB into dollars to buy a Russian company is pointless. I will review the company later.