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Technology Stocks : Vimpel Comm (VIP) ADR's of the Russian Cellular Phone Co. -- Ignore unavailable to you. Want to Upgrade?

To: Savant who wrote (130)	10/11/1998 7:03:00 PM
From: M. Frank Greiffenstein	Read Replies (1) \| Respond to of 283

Read Saturday NY Times.... Savant, hunger is in the eye of the beholder I guess. Check out front page of Saturday NY Times. Russian government is asking for emergency food shipments. Grain produciton has fallen from 100 million to 50 million tons. Russians consume 22 million tons a year, the rest is usually used for seed and cattlefeed. But bread consumption will go up because cattle production is going down, cattle being slaughtered right and left. If consumption goes up and feed/seed usage goes down, there will be real problems. It is true there is no hunger in the big cities. Everywhere else though.... In the meantime, government is printing rubles like crazy. A new era of hyperinflation will set in, and VIPs earnings will deflate in inverse proportion to value of ruble. Then VIPs PE of 3 can become 30, overnight. I still don't think the stock reflects all the currency risk. Look, when VIP Q2 ended, government had re-valued the currency at 1:1 to the Amercian dollar. Now ruble stands at 16 rubles to US$. So PE really is 3 X 16 = 48 ! DocStone