After 300% Return On Fannie, Freddie Prefs Value Fund Buys Russia

In a letter to shareholders for April 2014, Vltava Fund's Daniel Gladis announces that the European value fund has sold preferred stocks of Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) after 300% return and has bought Russian stocks. You can find the letter below.

Vltava Fund Sells Fannie, Freddie Preferreds

Dear shareholders,

In the first quarter of 2014, the Fund’s NAV grew by 7.3 %.

Form follows function

Once upon a time long ago (in fact, more than a quarter century ago), I entered...