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Strategies & Market Trends : Investment in Russia and Eastern Europe -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (255)	6/30/1998 8:39:00 AM
From: Thomas Haegin	Read Replies (1) \| Respond to of 1301

Vi, I have not posted in some time, just ran across your post. I attended a presentation last week of one Eastern Europe fund manager from Orbitex Asset Management in London. The guy was good: He managed to resist the urge to be engaged in Russia. Instead he was long Poland and Hungary - and short Russia as a hedge. Well, of course he has excellent performance this year. He is not yet engaged big in Russia as of this time, as he, too, is worried about a devaluation. Now that somebody said again: "The Ruble will not be devaluated!" it's time to listen up and watch out... I would agree with you: No need to rush to increase exposure in Russia or Eastern Europe. I look at VIP (Vimpelcom) as a possible investment: It's a cellular phone operator, good franchise and decent management, subscriber base rapidly growing. No old ties to former Soviet style companies. The fund manager spoke favorably of it. It's traded on the NYSE, that means accounting according to GAAP which is good. Still watching, but really in waiting mode only, Thomas