Markets, capital, and the discipline of patient investing.
RFC Capital Research publishes the independent analysis of Ruslan Averin — an investor focused on public markets, sovereign and corporate fixed income, cross-border real estate, and capital allocation across emerging and frontier markets.
No institutional mandate, no house view to defend — a working record of how one investor thinks about risk, value, and the markets most analysts avoid.
Flex LNG — A High-Yield, Indirect Way to Play Hormuz Gas Risk
Ruslan Averin's Flex LNG (FLNG): a modern LNG-carrier owner paying a ~10% dividend that benefits as Hormuz threats to Qatari gas lift freight rates — but exposure is indirect.
MarketsInternational Seaways — A Diversified Tanker Play on a Choked Hormuz
Ruslan Averin's International Seaways (INSW): a crude + product tanker whose rates and variable dividend spike when Hormuz reroutes oil — but it cuts both ways.
MarketsNordic American Tankers — The Retail Suezmax Bet on Hormuz Rates
Ruslan Averin's Nordic American Tankers (NAT): a pure-spot Suezmax operator whose earnings and dividend move almost 1:1 with the Hormuz-driven crude-tanker rate spike.
MarketsNorthrop Grumman — Cheap Missile Defense After the War Premium Faded
Ruslan Averin's Northrop Grumman (NOC): a missile-defense prime near 52-week lows despite Gulf conflict — June's truce repriced defense, a structural-backlog Hormuz play.
MarketsBadger Meter — A 33-Year Aristocrat Turning Into a Water-Software Play
Ruslan Averin's Badger Meter (BMI): a 33-year Dividend Aristocrat becoming a recurring-revenue water-software platform — richly priced, with a litigation cloud.
MarketsConsolidated Water — A Debt-Free Desalination Micro-Cap on Sale
Ruslan Averin's Consolidated Water (CWCO) analysis: a net-cash Caribbean desalination utility with a hidden US engineering arm and a $149M backlog, punished on a permit delay.