Investment Manager Benefited From Iran Sanctions
Maciej Wojtal's investment fund focusing specifically on Iranian stocks leveraged sanctions to generate returns, according to The New York Times.
Iran's economy is nothing to brag about, but Wojtal saw through that. With all the cards against him, he asked a simple question, "Where were Iran's people going to buy their chocolate biscuits?" He identified a company called Gorji Biscuit.
He predicted that Gorji Biscuit would raise prices as foreign competitors were forced out of the market because of US sanctions restricting commerce. His initial investment soared and he raked in returns amounting to more than 5 times his initial investment.
“You have companies that actually benefit from sanctions,” Mr. Wojtal said. “Whoever had to compete with imported goods, he’s better off.”
Maciej Wojtal's investment fund focusing specifically on Iranian stocks leveraged sanctions to generate returns.