"Putin Makes Compelling Case at Investment Conference"

That was a headline from an October 2014 post that we intro'd with:

Be very, very leery about any Invest-in-Rus pitch.
And salivate over the valuations...

I get the same feeling looking at this, from FT Alphaville this morning:

Russian energy and the Kremlin discount, charted

Yeah…

...MORE

If only you didn't have to deal with Russians to invest in Russia.
Other jaded-bordering-on-snarky comments on Rus:

Dec. 5, 2014
Jim Grant is (still) bullish on Russia, gold and private equity

He's gone from serious analyst to...I don't know what. Gold's going lower and Russia is Russia, where people with an actual understanding of the place travel in armored Mercedes limos and have a hidey-hole in London....

There's no reason to buy this but here's the Russia ETF for those who don't have Putin's cell number:

Grant started buying Russia in May 2014 and went for broke in November-December.
I think I'll listen to him on interest rates but maybe not equities.
And for those contemplating Russian sovereign debt, one last self-ref from July 2014's "Betting Big on Russian Bonds":

Even the Czar's bonds eventually paid off, a little. 

See also:
Tracking Inflation In Russia: The Value Of A Bribe Has Been Cut In Half