Russia beginning to resemble Argentina

This decade, the one market where you could be certain of making money was Russia. While stock marke...

This decade, the one market where you could be certain of making money was Russia. While stock markets slumped worldwide, share prices in Moscow surged as if the global bear market did not exist. Until recently. In April, Moscow's markets suddenly tumbled. Investors have looked at the massive tax bill handed to the oil giant OAO Yukos and decided politics are once again mixing with business - and that is a mix that rightly makes market participants nervous. Moscow's stock market boomed in the past three years because it looked as if politics would not get in the way. That seems to no long...