Thanks Steve,
My favorite market now is Russia. Companies at 1 to 4 times EPS, good manufacturing growth, large trade surplus, large budget surplus, rapidly improving corporate governance and reduced corruption. Repaying all debts and not needing IMF assistance, insulation from world economy other than oil prices, 8% GDP growth last year, 5% this year, stable cheap currency which has greatly benefitted domestic industry, HUGE, cheap oil and gas reserves. In short, doing everything right where latin america and US are failing. Also, talk of joining WTO within year, great dialogue going on with US.
All this has taken place in the last year and a half and the world seems to have mostly overlooked the miracle which is rapdly taking place. Check out Yahoo Clubs Russia where they do a great job posting articles detailing all this. -Z |
