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TOPIC: Oil and Russian Equities

Oil and Russian Equities 1 year 5 months ago #1

  • Michael Gebhart
    Michael Gebhart
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The Russian currency and equities prices correlate strongly with oil. If oil prices plunge to the marginal cost due to oversupply as Gary Shilling suggests then that could be a wonderful time to get into Russian equities many of which are already below book value. Here is a chart showing RUB/USD rate, RSX (Russian ETF), and USO (oil ETF; this isn't quite the same as the oil price but shows correlating price action):

RSX data: check out the companies and their price to book and sales. Its quite low if you trust Russian accounting:

What do you think?
Last Edit: 1 year 5 months ago by Michael Gebhart.
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