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I sold some but am still holding quite a few shares. This company will do well in the long run.
Glad to hear you are still holding some!
Thanks for posting Quin. I still have some and expert to always have a few to see the % gains and smile!
Yes, agreed. FRHC is a keeper!
I decided this one will be a keeper for a very long time.
I'm still in! Timur just posted this in Instagram:
You know, one of the key industries by which people now learn about the New Kazakhstan on the world stage is fintech. Thanks to the fact that public services are developed, open and available to all banks, we are able to make such cool products that many of our competitors in other countries can only dream of. These opportunities, such as online car loans and overnight mortgages, are something that terribly inspires us and gives us hope that there are many changes for the better ahead. Our extremely young and small bank, thanks to technology alone, could become the largest mortgage bank in the country in a year! In what country is this even possible now?
The bank is about registering property, it is very difficult to do cool things without integration with public services. In Kazakhstan, public services began to be built many years ago, we have an IIN, most of the databases have been digitized and structured over the past two decades. Now all these databases need to be turned into working processes and integrations with other services and financial institutions should be started. Our Minister of Digitalization @bagdatmussin, knows how to think in a client way and experience, looks at many IT processes as we look at them. We have a really Cool and professional team both in the AFRR and in the National Bank of the Republic of Kazakhstan, no matter how much we argue over individual details. It seems that there has never been so much practical progress in products as our banking industry has seen over the past three years.
Now the most important story is not to drown in internecine wars and systematically follow the path of reducing the participation of the state in the economy, demonopolizing its industries.
Our young team came to the banking industry - how much activity arose at once! It seems to me that we have shaken up the market, we have shown new opportunities to many luminaries of the market with a blurry look. I am sure that in telecom, too, new players will shake up the market and create opportunities that have never been seen before. They will be able to look at the processes differently, they will be able to explain why it is possible, and not why - “it is impossible”. The market does not demonopolize itself. ICRIAP is now doing what many people do not like, but it is very important for the country now. I really want Zhana Kazakhstan to win. A unique chance!
Some Stock picks by Timur Turlov (that he posted on Instagram today).
Snowflake has steadily doubled its product revenue. The company plans to maintain its impressive growth rate in 2022 with a 94-96% increase in revenue.
Crowdstrike continues to perform well, beating market expectations, with Q4 revenue up 62.7% YoY to $431M and ARR reaching a record $217M.
Datadog's latest quarter revenue up 83% YoY to $363M
Zscaler has an average target price, according to the largest investment banks, at $320, the potential is over 100%.
Enphase Energy Profitable Green Energy Company In Q1, EPS beat market expectations ($0.79 up $0.10) with revenue up 46% to a quarterly record of $441M. For the current quarter, revenue is forecast to be $490-$520M.
Mongodb Inc.
Q4 revenue up 55.8%, subscription revenue up 58%
And there are more such stories on the market. And in our IPO fund - too. And it can rebound even faster than the market because of the discount.
not really a surprise....
Brilliant to be based in Kazakhstan ...
TT is a real mover and shaker. How Freedom is nearly untouched by the unpopular invasion is really amazing to me.
Wow got fillled this morning at 43
Interesting read. I agree folks need to remain level headed as markets stabilize now that we know it is war...
Thanks for posting Quin!
Indeed. Here are some thoughts Timur Turlov posted on Instagram today:
What should be done when the wildest and most incredible events occur, about which so many simply did not believe yesterday? This year is definitely breaking all records.
Try to turn off emotions as much as possible and look at the situation as soberly as possible.
During the period of maximum fear, prices are always minimum. Emotions dictate us almost always the wrong decisions.
When the fear of the virus went through the roof, so many who were in the market at that time made a lot of mistakes.
If we turn to statistics, however, the American market, 45 days after the start of significant military conflicts / events, returned to the same place where it was before the start of the war. At the same time, it was often the moment of invasion that was the minimum or was close to it. Will it be like this now? Nobody knows. Statistics only show that actions under stress are almost always wrong. In moments of stress, it is better not to run with the crowd.
Oddly enough, but foreign securities can now be to some extent a protective asset, more reliable than the currency itself.
Most likely tomorrow (but this is not certain) the sanctions of Western countries will be announced, and we believe that, and judging by the text of the bills in the US Senate that have been published in recent weeks, in the worst case, under the threat of the operation of the largest Russian systemic banks, in the first place, with state participation. Medium-sized private banks not affiliated with the government should not be directly affected.
America has never frozen the assets and securities of citizens of any country on a national basis. Only address lists of individuals. And this means that the transfer of securities to foreign banks and depositories becomes at such moments an even better tool than the transfer of money. More reliable.
Business is the art of the possible. Now it is important to act as soberly and coordinated as possible, and then you will not have to regret the decisions made during the moments of market panics.
Thoughts and prayers with Ukraine at this astounding, horrible time with very real worldwide implications. GLTUA
Thanks for posting. Very sad.
Is it just me or could this easily be a $500-$1000 pps company in the next ten years
Sad news from Kazakhstan. Timur posted this on Instagram:
The riots in Almaty caught me and my family not in Kazakhstan, on vacation, outside the city where I have lived for the last 10 years and which I sincerely love, where our parents are now. What happened in the city over the past day is simply incredible. The scale of banditry, robbery, looting, violence and permissiveness simply exceeded all imaginable boundaries. Can you imagine a real war in the center of one of the friendliest and safest cities in Eurasia? I couldn't until yesterday.
Yesterday morning we sent almost all the personnel to a remote location, closed all offices and branches, collected all valuables and transported the most expensive goods to warehouses. Our men, the leadership in Ata, our security service worked very professionally and we hardly suffered, except for a few small departments where there were no people and valuables. Thank God, all our employees are safe and sound.
Thank God that now the situation is becoming calmer every hour, there is a persistent feeling that the peak of violence passed yesterday night. Now they are putting things in order in the city. I wish the President of Kazakhstan, K. Tokayev, courage in putting things in order. Probably no one in the world would like to be in his place for the last couple of years, and even more so for the last couple of days. And be forced to make the decisions that he makes. I am convinced that he is a true patriot and he has reasons to act the way he does. I am sure that the citizens of Kazakhstan will pass this test with dignity and come out of it stronger. And they can turn this page themselves. My Kazakhstan is, first of all, a very peaceful, hospitable country with a very large number of young, talented, educated people who really do the best products in the world.
I see. Thank you
And that’s why they sold bonds , to grow the company.
The stock is not acting well to the news that’s for sure. The 8-K says that the funds will be used for business expansion among other things. I don’t see this as a negative
Looks like yet another banner day for FRHC!
It's been a while since FRHC put back to back 52 week highs together... Nice..Lots of room to
Wow! Congrats Quin!!
Yup. I'm holding all my shares!
still growing and improving
For three months Freedom Holding Corp. earned $ 52 million in net profit, reports LS.
The company has released financial results for the first quarter of the fiscal year 2022 ended June 30, 2021.
"For three months, the holding's revenue amounted to $ 124 million and $ 56 million, respectively. The increase by $ 68 million, or 120%, was mainly due to an increase in commission income for the quarter by 125%, or $ 54 million, to $ 97 million. growth in interest income by 325%, or $ 14 million, to $ 18 million. In addition, for the three months ended June 30, 2021 and 2020, net income reached $ 52 million and $ 24 million, respectively, and earnings per share, calculated on the basis of of the weighted average number of shares of 59 and 58 million shares - $ 0.87 and $ 0.42 ", - noted in Freedom Holding Corp.
However, other comprehensive income was $ 55 million and $ 33 million, respectively.
The holding's expenses increased by $ 39 million, or 142%, for the following reasons:
- an increase in commission expenses by $ 12 million due to an increase in the number of clients and the volume of transactions they make;
- an increase in interest expenses by $ 11 million is mainly due to an increase in interest expenses on client balances in bank accounts, an increase in expenses related to short-term financing attracted through repurchase agreements on securities;
- an increase in operating expenses by $ 16 million mainly due to an increase in salary costs as a result of the expansion of the holding's activities through acquisitions and hiring employees.
"The new fiscal year for the holding began with positive dynamics. The number of open accounts continues to grow in all countries of presence. In three months we opened another 40 thousand new accounts. Our main financial indicators also showed growth. We see that the holding's revenue and net profit have more than doubled compared to the same quarter last year. In addition, S&P has raised the long-term credit ratings of IC "Freedom Finance" and JSC "Freedom Finance" from "B-" to "B", and also assigned Freedom Finance Europe Ltd. and Freedom Finance Global PLC ratings of the issuer of long-term and short-term liabilities of the B / B level. Thus, four brokerage companies of the group at once are rated by one of the most reputable rating agencies in the world, which speaks of international recognition of the holding's development, "commented CEO of Freedom Holding Corp. Timur Turlov.
The company added that, as of June 30, 2021, over 330 thousand client accounts have been opened. This is 40 thousand, or 14%, more compared to the number of client accounts as of March 31, 2021.
Source: https://lsm.kz/freedom-vyruchka
Agreed. Yeah i saw this and first about 6 weeks ago. Market doesnt care either, Belize office not a secret.
https://ffj-online.org/2021/08/02/freedom-holding-the-red-flag-factory-in-belize/
This is the second negative article from this guy and it’s all speculation. Garbage article. He should be sued.
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