I read Bloomberg every day. My WSJ online page is dusty to use an offline analogy compared to Bloomberg (although I skip over his gun control diatribes).
In this article titled “Putin Dividend Push Flops as Micex Discount at 4-year High” they discuss how the Russian stock index sports an extremely low price / earnings ratio of 5 and by other measures’ as well they are valued about half their “BRIC” peers. Putin was attempting to cajole Russian companies into paying larger dividends to increase this ratio but it largely has fallen on deaf ears. The final (cheeky) paragraph illustrates why Bloomberg knows how to write:
“The Russian corporate sector would do almost anything on earth to be seen as modern and transparent, Eric Kraus, a managing director at Nikitsky Capital in Moscow, where he manages about $200 million in assets, said by e-mail on May 28. “Anything but pay fair dividends, respect minority interests in corporate transactions, or allow truly independent directors. There is a disconnect between the rhetoric and the reality.”
Cross posted at LITGM
1 thought on “Hilarious Quote on Russia and Putin”
Not to mention when the hard work is nearly done the govt stepping in – there was quite a story of Chevron’s experience developing oil fields
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