Russia/Templeton Russia Fund (TRF) Message Board

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Strategies & Market Trends : Russia/Templeton Russia Fund (TRF)

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To: SgtPepper who wrote (78)	8/10/1999 11:51:00 AM
From: Daniel Shaffer	Read Replies (1) of 94

Parade of Prime Ministers Bodes Ill Hi,Sgt. Yeltsin's latest replacement of Prime Ministers (the 5th time in 18 months or so) suggests there won't be much positive change in the near future. The consensus is that almost everyone in Russia is disgusted with Yeltsin and his "family" of insiders. Elections for the Duma are coming up later this year with presidential elections in another year or so. My read on this is that little will be accomplished over the next 18 months in terms of needed financial, tax, judicial, and other reforms (including reining in official corruption). As a consequence, unless the Asian economic recovery or increases in energy prices significantly boost Russia's exports, Russian stocks will remain in the doldrums ($9 - $15 for TRF) until sometime after the next presidential elections in Russia. At that point, it depends on who is elected and how successfully they are in implementing reforms. Buying TRF in this range, IMO, makes sense if one is prepared to be very patient or just interested in buying on bad news and selling on increases of $3 - $5 per share over the foreseeable future.

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