Why I Reduced Restoration Hardware Position

It looks like I found this stock too late. I like the stores, I'm sure that they sell stuff appealing to rich home owners. But there is a small problem. There is nothing unique in the stores. OK, they recover, restore and sell beautiful (and not so much, but beauty is in the eye of the beholder) pieces of hardware for home decoration. But... Last Saturday I went to Home and Garden show. There were a lot of companies selling restored hardware. Granted, they don't have variety of Restoration Hardware (RH) stores. But it's just a matter of time.

Another problem: one of the reasons I bought the stock in the first place was the fact that CEO was Italian. Well, that CEO is gone.

I am not sure I want to close the whole position. I might as well be wrong. I am thinking about it.

Disclosure: I am long RH.

Additional disclosure: Positions can change any time.

I Am Ashamed To Be Russian

I don't write here on political matters. But, the situation is way too dire.

For the first time in my life I am ashamed to be Russian. When USSR entered Afghanistan, I was young and poisoned by Soviet propaganda. Later, I was happy when USSR fell apart. I thought that I could live in free Russia. By 1994 I found out that people of Russia don't want to be free and responsible for themselves. Now I live in USA, I am US citizen, proud of my new country and relatives are the only link to my former country. But now Russia invaded Ukraine. This is war. It doesn't matter that nobody died yet. Naval blockade, occupation of Crimea and its almost certain annexation are acts of war. And it doesn't look like the end. Russian military already probed approaches to Ukraine borders in the North (shortest way to Kiev). They retreated, when found out that Ukraine military are ready to meet them. Will they retreat next time?

I know a lot of people in Ukraine. My heart is with them. I wish them all the luck, they need it.

Ukraine sovereignty was guaranteed by US, UK and Russia in 1994 (Budapest agreement). Looks like this was just a piece of useless paper. US and UK don't want to defend Ukraine in any meaningful way and Russia is an aggressor. According to Budapest agreement, Ukraine surrendered all nuclear weapons on its territory to Russia. I don't think they are happy about it now. The lesson is clear.

If Putin is not stopped now, Baltic countries will be next. This looks like beginning of World War III.

My heart is with Ukraine.

Слава Україні! Героям слава!