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Strategies & Market Trends : lexington troika dialog russia fund -- Ignore unavailable to you. Want to Upgrade?

To: Jim Fraser who wrote (62)	12/30/1997 3:28:00 PM
From: Real Man	Read Replies (1) \| Respond to of 92

I believe the Russian economy will start to grow modestly (2-3%) in 98. This will push LETRX up about 50% (from the current levels). I think, fears of the imminent ruble collapse are overblown. At least, I don't see that in the charts (of the ruble vs dollar). I somehow believe that Europe, in particular Eastern Europe, will be the ne world growth engine during the next decade or so. That said, there is considerable risk in the rest of the world. Any negative developments from the rest of the world will scare the capital away from risky Russia. There is an additional risk of picking the wrong stocks, which lies with the manager. A lot of Russian robber capitalists (those who got huge property for little) will be bad managers, so I guess, a lot of these former state-run huge companies will eventually go under. That said, I would expect new energetic enterpreneurs to appear over there who will create healthy companies. -Vi