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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 (542)	8/26/1998 10:54:00 PM
From: Rob Shilling	Read Replies (1) \| Respond to of 1301

Vi, TNT is definitely low, but my experience with stocks has shown me to stick with the leaders, the most visable in an industry. So LUKOY may be a better choice (IMHO) TNT is only upstream and their oil is of a lower quality I think. That is just my two cents. On a RTS rebound, TNT may outperform LUKOY, I don't know. I really don't understand why all the oil companies in the RTS index are not at least moving up a little. They benefit from a ruble devaluation. VIP and ROS have just been killed. ROS is getting like UES, basically free. The Russian goverment really does seem to be confused. But the IMF has been who they have been listening to and the end result just does not give you a lot of confidence the IMF knows what its doing. On the bright side, this crisis is so acute, it should bottom out real fast. Maybe after this week, especially after tommorrow's trading of the ruble with no intervention. Should be a wild day. I am still sticking to my position, that if you can tolerate pain, buying and holding these Russian stocks means incredible returns down the road. I remember reading about when Warren Buffet was starting out, he said that during one bear market he was like a kid in the candy store buying up all sorts of bargins. By the time he was done he was down 50%, but he didn't care, because he knew he would make a killing as time went on. That is value investing, it is kind of hard to do these days because stocks move so far in either direction thanks to momentum players and so many on line investors reacting in rapid fashion to the latest news. BTW, the wall street journal had a little article on some region in Russia (I forget its name, but it started with an "S"), that has turned into a little boom town of capitalism. The main reason is the mayor is an educated reformist who believes in keeping the "hassle factor" down when dealing with foreign companies investing in his town.