This week's trip to Moscow opened my eyes.
Eyes which I then closed to details that I can't understand, and bought. The cleanliness and feeling of optimism along Moscow streets made it almost unrecognizable. You'll remember, it was my 65th trip --- but first in two years. I always loved the place --- but not enough to risk the baby's shoes before. I've made a lot of money through my Russian telecom ventures, and always wanted to invest some back, even as totem. Now I have (and, of course, wish I had last year).
Like anybody who took the plunge last Wednesday, I'm down about 5% on LETRX.... then again, so is almost everybody, everywhere! <GG>
But as to Russia, I can tell you this: everyone is away, goofing off at the dacha 'till next week... the Big Bugs wouldn't be caught dead in the office. Come September everyone gets back to scheming, to huddle and move the markets through the long dark winter days to huddle. (I expect, also, for the Moscow 850th anniversary to put a good jolt of positives into the air. Wish I could be there.)
The Moscow Times Index, ^MTMS is a good one. There is also the Russian Trading System (RTS), which I'll post from time to time. I haven't yet correlated either index to daily action vis a vis TRF or LETRX... but will!
LETRX is my first mutual fund. I'm tempted to buy into TRF, as well, for the liquidity. Not the interactive sport that NASDAQ trading is --- but I get RTS reports (including individual issues) first thing in the monring, here in NY. Nevertheless, my feeling right now is that the funds offer better control... I believe the Russian domestic stock game needs real hands-on management, frequent dinners with your brokers, tnnis with your network, stuff that can't be accomplished from far away. One day we'll have access to the trades and information... at this time I'd rather pay the little premium for an in-country pro.
There's no real basis for you or me to pick one Russian stock over another, not ona dialy basis. The mutual portfolios contain all the stocks we might get into, anyway. LETRX? TRF? RNE? I don't yet get the difference, but will be watching.
Best of luck (udache!)
/k1b0ý |
