Bloomberg – Lakewood Capital Management LP is betting on OAO Lukoil (LUKOY), Russia’s second-largest oil producer, after shares slumped on concern about the nation’s conflict with Ukraine and a selloff in energy stocks.
“Admittedly, few investments sound less appealing right now than Lukoil, a company operating in the market’s worst performing industry (energy) and located in the market’s most detested country (Russia),” Anthony Bozza, founder of the $2.9 billion hedge-fund firm, wrote in a third-quarter letter to investors, a copy of which was obtained by Bloomberg News.
