Russia: good things happen to cheap stocks

Russia may be a basket case, but stocks this cheap shouldn’t be ignored, says Merryn Somerset Webb.

There hasn't been much to be gained in the last year or so from suggesting that anyone invest in Russia. Not only has it not worked out yet (the investment trust I suggested last year is down 24% sincebut it has also started to make people very, very angry see the comments under my most recent column in the FT.

So I was pleased that Simon Milne of Aubrey Capital pointed out to me that I am not the only one who still thinks it is worth looking at.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.