RE:RE:Seeking Alpha article.. good but wait for lower price.If you read the article he actually provides a balanced perspective on PIF. It's just so hard to handicap the risk around what is happening and he is 100% right that there is a real risk that the equity could be worthless. I guess you can say that about any enterprise that has debt, but PIF is special in that it's' really a 1 asset business and that 1 asset is located in a country that has in the past nationalized private assets leaving equity holders with nothing.
Do I think it will happen? I think it is more likely than not that PIF's plant will not be seized. However if you are going to put your capital at risk in a situation like this you really want to be compensated for the risk. I personally dont think we are there yet.
No position in PIF...hoping to be long soon.