Saturday, May 9, 2015
Russian market the best performer so far in 2015
Back in January I wrote that I was nibbling on Russian stocks because they were the cheapest in the world. However, cheap does not necessarily mean one should buy. I also said that the negative sentiment towards Russia was way over done and I thought that once things calmed down in Ukraine we would get a rally. This is exactly what has happened as the Russian market is up around 40% so far. As oil prices continue to increase we could see additional upward movement in the Russian stock market. In order to make money you have to buy out of favor sectors. You also have to realize when a market or stock is just oversold instead of being broken. Russia was just oversold and is now on the way back.