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: peter michaelson who wrote (182)	5/27/1998 8:07:00 PM
From: Real Man	Read Replies (2) of 1301

This is a problem for me as well - and this thread is a hope for me to get more information. If what I read in Barron's some time ago is true, the market should be back to below 5% GDP market cap and below 5 average p/e (1-3?). Oil companies there are sitting on huge amounts of proven reserves. Yet the total Russian market cap (I believe, currently 20 bln or so) is significantly less than that of Chevron or Exxon. On US scale the American market would be at similar valuations if the DOW hit 300. You have to pay a huge premium for the stability of American political and financial systems, though: I doubt communists could ever get to power and prohibit the market in the US - still a reality in Russia. -Vi

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