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: baystock who wrote (401)	8/7/1998 3:04:00 AM
From: Real Man	Read Replies (1) of 1301

Stock Market cap (on RTS) is below 30 bln, or about 6% of GDP. For comparison, Malaysian stock market was 320% of GDP at the peak. US is 150% now. This is a long-term measure, something like price/sales. ROS, a monopoly, trades at a p/e of 4. My assertion was based on Barron's article in early 97, which compared Russia to Mexico. The market was cheaper then, so it should be much cheaper now. Rinaco Plus index is at '94 level. Russia has a lot of problems right now and risks associated with them. But yes, stocks are not expensive at all there.

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