Koda Capital’s crazy Russia bet

Koda Capital is in full mea culpa mode after a private note urged clients to fill their boots with “disproportionately oversold” Russian stocks, which the firm argued are “well-placed to cope with current and likely future sanctions”. Cue outrage.

Setting aside the moral implications of a wealth manager pointing its nearest and dearest into an underweight war thematic, there’s the minor issue of its general advisability.