IRBO's Low P/E Comes From China, Telecom And Old-Guard IT Industry Summary – IRBO has a very vague mandate, and the companies within are from disparate industries, sharing only vaguely this connection of using AI. – Basically, companies that use statistics on their data. It's not saying much. – Moreover, the PE is quite low despite the heavy IT exposure, which is due to quite a bit of Chinese exposures but also telecoms. – Nothing wrong with telecoms, but stay aware of Chinese exposures. The delisting issue seems to be moving in a constructive direction, but much work needs to…