Investment in Russia and Eastern Europe Message Board

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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: Still Rolling who wrote (107)	5/12/1998 5:52:00 PM
From: Real Man	of 1301

There was an article in Barron's somewhat more than a year ago about the Russian market - how cheap it was. They were talking about 20x in 10 years. Now that it's going down rapidly any talk about the Russian market disappeared. Yet, it is exactly where it was a year ago if not lower. I guess, the sharks are playing bonds over there, which now yield roughly 20% in $$ terms. I believe the new government is a lot better and more capable than the old one. So it's an opportunity - for the brave. There is a real possibility of the debt crunch, and the market is selling. The oil prices are so low it makes me wonder.... To realize how cheap the Russian market is, compare: CORP. MARKET CAP DAILY VOLUME(TODAY) whole Russia (RTS) 40bln. 52 mln. DELL 60bln. 1.5 bln. MSFT 208bln. 1.4bln CPQ 50bln. 0.5bln. XON 179bln. 200mln. CHV 56bln 100mln. I guess, lukoil alone has more reserves than Exxon. Yet the valuation of the whole Russian market is much less. -Vi

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