Since 2014, Western sanctions and a steep fall in commodity prices have pummeled Russia. Many Russia blue chips now trade at levels not seen since the depths of the global crisis in 2008. Russia's average P/E is 6 and the country's entire equity market value is around $400 Billion, just two thirds that of Apple. Should disciplined value investors now take a bite into the deep red, high-beta Russian market? Isn't the Russian market poised to rally dramatically when oil recovers? Or is the Russian market rotten to the core, a value trap to be avoided at any price? James Fenkner will discuss the current Russian economic and political environment and provide insights into the most important (and least appreciated) factors affecting the future trajectory of Russia.
Ten 22, 1022 2nd Street, Sacramento, CA
https://events.r20.constantcontact.com/register/eventReg?oeidk=a07ebiymjyg492870ac&oseq=&c=&ch=
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