Thank you for everything you did Phil. This was very clearly stolen from us and you did everything and more to prevent it from happening. Take a rest, God knows you deserve it. We will win at the end of the day.
Phil, don’t be sorry. You’re a goddamn legend, and when they’re teaching this in financial history classes, your name will be in the textbooks. I’m a small fish in a big pond, but I have total faith in you and all your efforts. This was criminal, and I know it’s far from over. It is an honor to be in the same community as you. Thank you for everything, truly 
this only benefits shareholders unless im mistaken?
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For what little it’s worth, I was able to get TD to refund the commission on the trade. Small silver lining.
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I am usually just a lurker but I had to come out to thank you for keeping us all informed Phil. I myself along with everybody else lost money on this. But having you here and keeping us in the loop of everything else that happened has been very insightful. Have a great weekend!
Wow, didn’t find this video until today: Jan van Eck explains how RSX ETF trades despite Russian stocks closed - YouTube
0:40 Jan Van Eck literally says it’s normal for RSX to trade despite Russian stocks being closed, based on what price New York traders think it should trade at.
Gotta be kidding me.
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I saw that video a couple days ago. It gave me a little bit more confidence in terms of making the play that I did hoping that it would not be shut down like the Russian ADR stocks were. Thanks Jan
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I don’t think they have to unhalt this thing until after next Friday do they? In what scenario would they be forced to unhalt prior to the 21st? It’s conceivable, at least to me that they could keep this thing shut down and screw over all the 18th expiry’s as well.
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It’s quite amazing all the man hours you put into this and the efforts you went to. Unfortunate it didn’t work out for this week but hopefully next week everyone reaps the rewards of this weeks labors. Myself as of the rest of us appreciate it greatly.
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At this point we should not see much of a change in NAV/Assets unless we see the manner in which they value all the un-trading stocks differently or if VEON suddenly rockets up.
Still posting here to log it.
Also, I posted this in TF but not here. Phil did state it earlier in the thread.
But you see that essentially every other stock except EVR/POLY/VEON (the 3 that are still trading), each share of that stock is worth $0.01 or less. (some are based on ruble/pound)
Once again thank you Phil for all your hard work, time, energy and effort. Also props to Conq, Thots, JB, and many other folks who spent that time calling brokers, maintaining order, summarizing, etc…
We didn’t win this week but we got a new week ahead of us. Time to re-gain and focus.
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I’m of the opinion this is incredibly unlikely due to the legal/regulatory exposure it would put all entities involved in. If someone more knowledgeable would like to chime in though, this is a sentiment I’ve seen shared a few times.
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I think it’s likely that they will announce liquidation once the entire ETF is liquidated. As of this post, the percentage of cash is around 75~, I would assume they do something once that number goes to 100, and based on the current rate (25% a day). It’s very likely that this mess brings to a conclusion by Monday ~ Tuesday.
This is just an educated guess, Nothing is certain.
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i wonder, has SEC ever forced exchange to unhalt? who are they protecting if theyre not letting stock reach fair market value which is presumably zero?
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The stocks they have sold so far are the ones that are still trading. The rest are frozen so it doesn’t seem likely that they can liquidate any further until those ADRs start trading again, unless they find a counterparty willing to buy them, off-market.
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So I did a little more digging this morning, rather than relying on the news to say when MOEX will be open/closed, I found that the Bank of Russia (the official source) publishes that information every morning before 9:00 (Moscow Time).
The daily updates also mention exactly what is & isn’t trading.
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It’s unavailable for me, though that could be due to my location.
What is the most recent guidance shown there on when it will reopen/remain closed? I’ve seen reports of Russia looking to reopen the stock market next week but can’t find any source to back this up.
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The most recent Press Release says (note last paragraph):
The Bank of Russia has decided not to resume trading sessions on 11 March 2022 on the Moscow Exchange in the Equity Market, except negotiated buyback trades with settlements in rubles, and Standardised OTC Derivative Market.
Single stock and index contracts in the Derivative Market are available only for negotiated position-closing trades. The FX (currency pairs), commodity (precious metals) instruments, and mirror contracts for futures on the original sites will be traded as normal from 10:00 to 18:45 Moscow time.
The trading sessions in the foreign exchange market, the money market, and the repo market of the Moscow Exchange will open at 10:00 Moscow time.
The trading schedule of the Moscow Exchange for 14 March 2022 will be published on the Bank of Russia website on 14 March 2022 before 9:00 Moscow time.
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They make that statement every update. “The trading schedule will be posted for March X” and then keep delaying.
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Ah okay thank you for sending this, unfortunately this is the same line they provide in each update.
I’m not expecting it to open next week, but happy to be surprised haha
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