“Central bank data show net outflows from Russian assets totaled $75 billion in the first half, compared with $61 billion in all of 2013. The ruble has weakened 19 percent against the dollar this year, the second-worst performance among emerging-market currencies. ‘The market got smashed down for absurd reasons so reality is now setting in to the value there,’ Jim Rogers, who set up Quantum Fund with George Soros in the 1970s, said by e-mail from Singapore yesterday. Rogers, who said he has been bearish on the former Soviet nation for most of the time he’s been investing, said Oct. 1 that he has bought Russian ETFs and local stocks, including OAO Aeroflot and OAO Moscow Exchange.”

http://www.bloomberg.com/news/2014-10-13/russian-stocks-now-cheaper-than-ever-as-oil-rout-deepens.html

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