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: Jim Fraser who wrote (179)	5/27/1998 2:29:00 PM
From: Real Man	Read Replies (1) of 1301

Agreed. These are very risky bonds which might return over 100% per year if the rouble is stable. The government presently aims at this stability at whatever cost. They paid 164% GKO which were sold right before Yeltsin's elections. We'll see. So far it looks very unhealthy. But very cheap as well. It is possible, other world markets will catch the flu - like our market and Europe. Then look out. It is probable also that they will negotiate something with IMF or World Bank to reschedule the short-term debt - in which case the market should recover some ground. It's a nasty bear market - no more buying Russian stocks for me until a demonstration of technical health. On the other hand, I believe, oil and metals should do well in a world bear market - and these are the products which Russia exports. -Vi

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