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China Housing and Land Development, Inc. Message Board

advisorcfa 1 post  |  Last Activity: Mar 14, 2014 1:08 PM Member since: Sep 27, 2011
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  • Yandex reports its earnings in Roubles, not dollars. Of course, Yandex discloses a USD equivalent in its financial reports, but that is based upon contemporaneous exchange rates. Given that the rouble has lost 5% against the USD in the last 6 weeks and 10% since December, it is almost unavoidable that YNDX will significantly miss revenue AND earnings estimates for 1Q2014 just due to currency issues. Any operating impact from the Crimean situation and slower economic activity in general in Russia (GDP estimates lowered this week), or sanctions effects would be incremental to the currency related hit.
    So, since YNDX is still trading at levels where is was just 6-7 months ago when conditions appeared to be much more favorable, the argument that YNDX is 'undervalued' does not hold water.
    I am not saying that YNDX can't go up, but the 1Q2014 report seems likely to be a nightmare.
    Any other perspectives?

    Sentiment: Hold

2.18+0.02(+0.93%)Apr 15 3:59 PMEDT

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