2008 10 07 Max Zavanelli, the founder of the NSEL 30 Index Fund, bought more shares of the fund.

Renown worldwide investor and Professor Max Zavanelli said: The sell off in emerging markets worldwide was influenced by the US financial crisis which is now effectively resolved. The 9% drop on Monday, October 6, for the Lithuanian stock market was unjustified. Lithuania is the most stable of the Baltic States with the best economy for 2008-2009. The decline this year offers a great opportunity to buy at half prices. The 43% plunge in worldwide commodities prices since July along with the price of oil will stop inflation and will be very good for businesses and the consumer. Like all countries, Lithuania is not without problems, like overpriced real estate and energy. But these problems are not new. The market should be going up on falling food and energy prices. It is wonderful to buy stocks when others throw them away at any price. If the Lithuanian stock  market keeps falling, I will keep buying the NSEL 30 Index Fund.

According to Professor Zavanelli’s theory of stock prices GRAPES (Growth Rate Arbitrage Price Equilibrium System), Lithuania’s stocks would need to go up 120% to be efficiently priced. Zavanelli’s theory will be published on February 2009 in a chapter in the CFA’s (Certified Financial Analyst) Handbook of Evaluation Techniques.

The NSEL 30 Index Fund is the only fund that owns only Lithuanian companies and it provides an easy way to have a diversified portfolio and liquidity.

For more information, please contact UAB “Investicijų portfelių valdymas” general director Vaidotas Petrauskas, CFA
Tel.: +370 (5) 274 70 16
E-mail: office@ipv.lt