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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 (595)	9/2/1998 11:30:00 AM
From: P.T.Burnem	Read Replies (1) \| Respond to of 1301

He also ordered the Fuel and Energy and Finance ministries to prepare by Thursday proposals on oil excise tax cuts. "There can be no delays, especially where oil producers are concerned," Chernomyrdin was quoted as saying by Interfax. At least short term the math on LUKOY looks interesting. Assuming these changes go through, LUKOY would enjoy lower profit taxes, lower excise taxes .... You mean, higher oil excise taxes payable in dollars? On the plus side, the profit tax will be reduced to zero. To quote our paragon of trustworthiness (wagging a finger:) "I want you to listen to me. I will say it again." Sell stocks of Russian oil companies. If you insist on playing the Russian roulette with your money, use the proceeds to buy VIP. At the moment, the street treats all Russian stocks with equal disdain, so you will not lose much, if any, money in the swap. Plus, you'll get a tax deduction. Don't wait until the distinction between "old Russia" and "new Russia" becomes common knowledge. PTB P.S. If you don't already own any Russian stocks, stay away from VIP.