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

To: Rob Shilling who wrote (509)	8/24/1998 11:00:00 AM
From: Z Analyzer	Read Replies (1) \| Respond to of 1301

Does anyone know whether Victor C. will continue to push hard for increased tax collection? Seems to me that it was under his rule that nobody bothered to collect taxes and hasn't the new aggressive tax chief been sacked along with the rest of them?

To: Rob Shilling who wrote (509)	8/24/1998 3:16:00 PM
From: Real Man	Read Replies (4) \| Respond to of 1301

Rob, as always, I agree with what you say. However, Chernomyrdin as a Prime minister is equivalent to the fact that Yeltsin admitted the power of oligarchs. While there was hope Kiriyenko and Co would reform the corrupt system Russia had, there is no hope now (for the nearest future). This does not mean stocks won't go up, though. This world crisis is pretty serious, and it's far from over, so I tend to be more than 50% short nowadays. As for Russia, I think you are right about 20-30x long term.

To: Rob Shilling who wrote (509)	8/24/1998 3:30:00 PM
From: P.T.Burnem	Respond to of 1301

Russia is not asia. Sure. Russia has a centuries-old tradition of not allowing foreign investors to profit from the Russian economy. Whoever gets to drink vodka in the Kremlin, the foreigners will get fleeced. In any debt restructuring, foreign holders of Russian GKO's are going to get a fraction of what Russian "banks" will. Foreign owners of Russian "stocks" will see their equity stake wiped out by dilution, issuance of preferred stock, phony restructuring, taxes, or all of the above. Get out while you can, PTB