CHEAPEST Stock Market in Europe, Investing in the Russian Stock Market
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Hi, today I am going to investigate the Russian investing landscape. I am going to look at some of the big companies in the country and try to work out why they are all at such attractive prices.
I based a lot of my knowledge on the great investors. Peter Lynch, Warren Buffett, Charlie Munger, Mohnish Pabrai and a handful of others.
Now you might be thinking why Russia? Well I actually lived in St Petersburg for 6 months and have some Russian friends interested in investing.
Bargain Pricing!!
There is a lot going on here and I will 100% not cover everything, but here are some of the big points.
Since 2014, the U.S. and the European Union have imposed some of the strictest economic sanctions on Russian companies in modern history.
Russia’s debt to GDP ratio is just around 20%.
Brazil’s for example is close to 80%.
China’s total corporate, household and government debt rose to 303% of GDP
Russia’s RTS Index in 2019 was the best performing stock market globally with +37% return in U.S. dollar terms, ahead of 2nd best performer Greece with +34.5%.
Russian equities have an average dividend yield of 5.6% on the RTS Index and P/E of 7x.
U.S. equities are at new ALL time record highs and the S&P 500 Index now trading at P/E of 32x and a dividend yield of 1.5%.
This is the RTS Index statistics, this is like the Dow Jones of Russia. It’s a representation of all the companies.
The first thing we should notice is the very attractive P/E and P/BV numbers, which are general valuation metrics.
The next thing to look at is that the market is mostly made up of commodity companies. Things like Oil and Gas, Metals and other mining. It is more than half the market.
That is a big difference to the US which has less than 10% in these same industries.
Evaluating Russian Companies
Gazprom
Biggest gas company in the world. If you add up all the world's reserves, Gazprom has more than all of the world combined.. This is huge.
The business is influenced by global gas prices. This is a commodity business and a very important commodity that will be used for decades to come.
Yandex
Biggest Tech Company in Russia: The Google of the Russian world, Yandex has the major search engine, Ride sharing app partnering with Uber and many AI projects.
Norilsk Nickel
Nickel, Copper and other rare metal mining company. They operate throughout the world, not only Russia.
The business is influenced by global metal prices. This is a commodity business and a range of very important commodities that will be used for decades to come.
Lukoil
Giant oil and Gas company, more focussed on the oil side of the business. They are similar to Shell where they also have retail outlets as well as producing the oil.
The business is influenced by global oil prices. This is a commodity business in a flat to declining industry.
Sperbank
Biggest Bank in Russia with about 30% market share. This is the dominant force in banking in Russia. As safe as it gets and has been around since 1841 and now stretches into 18 countries.
Thanks for staying to the end of the video. Let me know what you think of my Russian analysis, I’m interested to hear opinions, hit subscribe so you don’t miss my future video’s
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