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Oil and Russian Equities

  • Michael Gebhart
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2 years 4 months ago - 2 years 4 months ago #1 by Michael Gebhart
Oil and Russian Equities was created by Michael Gebhart
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: 2 years 4 months ago by Michael Gebhart.

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