Delivering long-term profits by riding the Russian rollercoaster

When we considered the outlook for Russia at the beginning on 2009, it appeared we were staring into the abyss.

It seemed it was going to be even more bleak than the dark days after the 1998 Russian Default. The global financial crisis did indeed seem to be global and the long talks of decoupling of emerging markets was not the reality. It was only six months later we could truly say emerging markets would survive intact. The reasons why Russia recovered so well during 2009 are simple. Less debt, commodities becoming the potage de jour once again, helped immensely by the strength of precious metals and the US dollar’s demise. The domestic economy in Russia is not as encouraging as one might ini...