Jim Grant's Sohn Conference Presentation

In trademark bow tie as always. "No disclaimer, I'm just going with the First Amendment." "Successful investing is having people agree with you - later." IDEA: Gazprom long.  Listed in London.  Owns 17% of the world's gas reserve, the economic instrument of Putin's foreign policy.  HLF without Carl Icahn.  Donald Stirling with a London ticker.  Opposite of TSLA. Well hated, very out of favor. 32% operating margins.  Endless list of reasons to be bearish. Russian government owns 50% of shares.   Then he compares FB's corporate governance, with dual class share structure to Gazprom.   Trades at 2.4x 2014 earnings.  That is after taxes, and "after stealing." Be sure to check out the rest of the presentations from the 2014 Sohn Investment Conference.