Nieminen still has plenty of faith in Afarak, which shares the same auditor as Tecnotree—a company that has also been the subject of related-party speculation and whose shares Nieminen has also been loading up on. In the case of Afarak, I believe a special audit was conducted to investigate whether company assets had leaked to Končar’s related parties. The conclusion seemed to be that they hadn’t.
Sometime during the early days of my stock-picking hobby, I remember buying shares in this company because it was cheap on a P/E basis. Naturally, I didn’t realize I should dig into the reason for that cheapness, and I had to learn the hard way. Now, it feels like the greatest potential for returns lies in the fact that the already elderly Končar will eventually pass away.