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: P.T.Burnem who wrote (565)	8/28/1998 2:29:00 PM
From: Real Man	Read Replies (1) of 1301

PTB, I believe sentiment over Russia is overly negative. I'm trying to get more or less objective picture, but so far it's a mess, and I don't know what's really happening. There was a rumor on the gold thread that Russian CB is buying gold. Gold-backed ruble? Western bankers are mad at Russia for a default on their loans. This is bad for them, but lifts Russia's burden. Russia paid most of its revenues to finance the debt. Without debt the budget even showed a surplus in 1998. Russia had no chance to get any more loans from the West anyway. The valuations are so low it seems a lot of risk to go short Russia. Very negative spin on the news. International investors are dumping Russian shares for nothing.

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