These comments look like a weather forecast: linear extrapolation.
So if the current trend continues, they will hold. The main reason
to buy into Russia is value - I believe, nowadays Russia is the
cheapest market in the world. There is a chance that things will
get worse, but at these prices a lot of bad news is already priced.
You will make 90% in roubles in GKO. If the rouble stays stable, that's a lot. Even if it devalues 40%, still you'll make a lot.
Of course, there is a possibility of default or uncontrolled
devaluation. But the central bank will defend the ruble at all costs,
or so it seems right now. If anything, current
situation in the Russian market is an opportunity to buy.
Yes, there are risks - mentioned in these comments, however, these
are **risks** - by definition something which won't necessarily
happen.
In my opinion, it will take a lot of effort to turn Russia back to
communism or dictatorship.
Maybe, though, I should quit and go out buy YHOO, which soon will be
worth more than all Russian stocks combined.
P.S. It is still better to wait until the trend changes |
