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: Racso who wrote (571)	8/29/1998 11:33:00 AM
From: Rob Shilling	Read Replies (1) of 1301

I would be buying not shorting Russian stocks. Shorting U.S. stocks may be profitable though. Look at some numbers. LUKOY is the largest (as in biggest, most big, greatest) oil company when looking at oil reserves. I know oil is cheap now, but it will go back up eventually and it has value that will become even more important in the next oil shortage. So, what is LUKOY's market cap ?? $2-3 billion. This is an outright steal !! There is only one way you can lose, nationalization. It probably will not happen. How about ROS ?? the Russian AT&T ?? Even if the ruble will eventually settle down to 12 or so to the dollar, ROS has a PE in that scenario of around 3, a price to sales of 1/4 to 1/2. Russian stocks are down 90% from their peak. The Moscow stock market, isn't even a market right now due to the political uncertainty. It's volume has been around $5 million dollars. The only sellers are those that have to sell at any price because they need the money. Russian stocks could outperform many other global stocks for years to come. Remember the market cap ... $14 billion or so, is Russia really worth less than Yahoo ???? It is just silly to think so.

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