Financier James Richman profits almost 100% from GE in 6 months

Singapore, Nov 24 : General Electric Company has recently climbed back to the $10-level. Singapore-based finance firm, JJ Richman, reportedly profited from the said move.
Corporate filings and financial reports reveal that its chief executive officer, James Richman, who is known for his contrarian investment approach, was able to ride the wave of the upsurge as he reportedly forecast the stock to hit its lowest of $5 levels in early May.
From there, the company has enjoyed 100 per cent increase in price as it recently hit $10-level as predicted by Richman. Elaine Teo, spokesperson for the company, confirmed that the company has indeed invested in the American conglomerate in early May.
The value of GE had reached a 52-week low in March and even matched a 29-year low. Several corporate filings and reports reveal that Latvia-born businessman James Richman went against the odds, including a massive investment that contradicted that of Warren Buffett, by taking an optimistic view towards the multinational conglomerate.
James Richman’s outlook opposed the “stay clear” rating that other investors placed on General Electric. Richman recognised that although the reasons for GE’s decline were valid, they just formed part of the bigger wheel that constantly turns. Hence what’s valid and urgent now could be irrelevant in a short period.
The General Electric Company was in the midst of a solid run when the market crashed in March. It had reached a value of $13.16 in February, just before Covid-19 induced a free fall in the global economy.