
Group 1 - The article initiates coverage on Kaspi (OTC:KSPI) with a strong buy rating due to its impressive past growth and potential for sustained performance [1] - The author has extensive experience in investment analysis, focusing on deep-discount value plays and underappreciated companies [1] - The analysis emphasizes the importance of returning value to investors as a key investment philosophy [1] Group 2 - The author holds a beneficial long position in KSPI shares, indicating confidence in the company's future performance [2] - The article is written independently, reflecting the author's personal opinions without external compensation [2] - There is no business relationship with any company mentioned, ensuring an unbiased perspective [2]