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: CIMA who wrote (708)	9/22/1998 11:50:00 PM
From: Rob Shilling	Read Replies (3) of 1301

CIMA, your spreading mis-information Russia's currency reserves are no longer dropping. Thanks to devaluation, imports have dropped dramatically. There is now a current account surplus. Also, oil and gas prices are rising. That is adding much needed hard currency to Russia and also helping to increase reserves. There was a NINE MILLION barrel drawdown of U.S. crude oil stocks last week alone. There is no longer a "glut" of oil in the U.S. The rest of the world is also drawing down the "glut". Add weather problems dropping production and La Nina, and we could see $18 a barrel oil in the 4th quarter. That is where the money will come from to pay off foreign debt. Oh, the ruble strengthened today a little. It is in the 16's. Look at LUKOY, $12 billion in revenues and growing, and a market cap of $2 billion. Absolutely ridiculous valuations that can only be justified by hedge fund antics. Time to BUY. If your looking for doom and gloom look at the U.S.A. stock market.

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