Russian stocks drop by 47% in four months
Source: http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert/0/0/russian-stocks-drop-by-47-in-four-monthsPosted on Thursday, September 11th, 2008 | In Asia
Contributed by: Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert) -
If you think the drop in the Chinese market has been bad, take a look at what is happening to Russian stocks. The benchmark RTS index has lost 47% of its value just since May.
Talk about a swift kick to the privates!
The Russian stock market is dominated by companies that produce/export natural resources so the drop in commodity prices has been particularly painful.
The Russian government is talking about taking drastic steps, like using its own sovereign funds money, to prop up the stock market.
I haven’t invested in any Russian stock yet, but now may be time to start looking.
Last 5 posts by Tony Sagami
- World Bank Calls China: A “Ray of Hope” - April 14th, 2009
- Even Walt Disney Couldn’t Have Imagined This … - April 9th, 2009
- Following the Warren Buffett of China - February 17th, 2009
- Gaming stocks down on their luck - January 20th, 2009
- Japan: worst stock market drop in history - December 31st, 2008
 About Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert)
Tony Sagami, a veteran investment advisor and a leading expert on Asian markets, is the owner and founder of Harvest Advisors, an investment research and money management company. Mr. Sagami has been managing money for more than 20 years and is one of the early pioneers in the application of technical and quantitative analysis to mutual funds and stocks. He is a featured contributor to Weiss Research’s daily e-letter, Money and Markets and monthly Safe Money Report as well as the editor of Asia Stock Alert. Prior to establishing his own firm, Mr. Sagami was managing director at W.E. Donoghue & Co, serving additionally as the director of investment. During his successful career, he also held the position of account executive at Merrill Lynch. Mr. Sagami’s views on Asian markets, specifically Chinese investments, have been featured in publications such as The Wall Street Journal, Barron’s, Kiplinger’s, Smart Money, Business Week, New York Times, Washington Post, Investors Business Daily, Bloomberg, Financial Planning Times, Mutual FundsMagazine, Chicago Tribune, and the LA Times, as well as on CNBC and CNBC Asia. Mr. Sagami holds a degree in economics from the University of Washington. |
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