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When Markets Stabilize Russia Is a Better Bet Than US
Contrarian Profits (September 21st, 2008) Writes:
The news that Washington is fast becoming the world’s biggest slumlord through the buyout of distressed mortgages helped send international markets skyward.
The biggest gains were in Russian stocks. And this could be the situation for quite some time, says emerging markets expert Irwin Greenstein, writing for Contrarian Profits.
The irony, of course, is that Washington and Moscow are now marching in lockstep with each other when it comes to their stance on market intervention. After a series of unprecedented bailouts, the US has effectively renounced the principle that markets are self-regulating.
This from Irwin…
Russia’s RTSI Index (RUS:RTS.RS) jumped 20.17%. That’s huge, especially in comparison China’s SSE Composite Index (Shanghai: 000001.SS), which gained 9.46% and the Hang Seng Index (HKSE:^HSI), which closed up yesterday 9.61%.
Meanwhile, the Dow closed yesterday with a gain of 3.9%.
That Moscow and Washington have both used massive bailouts to …
BRIC Nations, China, Dow 30, Emerging Markets, finance, Georgia, Hang Seng 40, high-tech, investing in russia, Irwin Greenstein, Maryland, Moscow, RTSI, Russia, Russia, Sarah Palin, shanghai, shotgun sports, Taipan Publishing Group, United States, Washington
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