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VIP (for Spoom)

trickynick said: "Spoom, I looked at VIP like I told you I would. Their asset position is okay, but hardly what I consider to be value characteristics. I assume you are interested in them because of their strong earnings growth despite their P/E of only 19, but you can confirm that. I think I may know why they are not valued all that highly despite the growth in their earnings and it happens to be the same reason I'd be reluctant to get in myself. Americans are told Russia is run by organized crime syndacates and a currupt government that facilitates their activities. American investors are therefore either not confident in the business enviornment of Russia or (like me) they don't feel they understand what goes on there well enough. I read in the WSJ a couple months ago that the Russian government forced a major Russian newspaper to submit to an acquisition by a wholly state-owned energy company. It seems to follow that the telecom industry there could also be subject to major changes by unilateral action by the government. That makes me a little nervous and even if I were fully confident it would be fine, other investors may not become similarly comfortable for a long time which could potentially make price appreciation an uphill battle."

alhamid said: "personally i wouldnt invest in russia because of crime and the govenment"

sp0om said: "Hm... So that's why the institutional ownership is fairly low..."