Putin's days may be numbered
An investor's view of why Putin's days may be numbered
Investor Bill Browder, author of Red Notice, explains how Vladimir Putin gained total control over Russia, including its oligarchs, in what he calls a Sopranos moment.
Browder set up shop in Moscow during the country's Wild West days in 1996, but his hopes that a “normal” market would emerge never materialized. Privatization looked good from a distance, Browder said, but it was like building a beautiful house without plumbing and electricity. The results were financial losses for Browder and tragedy for his Russian lawyer Sergei Magnitsky.
Now Browder wonders if Russia's economic troubles are enough to tear the regime down.
Bill Browder is the Founder and CEO of Hermitage Capital Management, once the premier investment advisory firm specializing in Russian equities. The firm's clients include high-net-worth individuals and major financial institutions. In February 2015, Browder published an account of his career, focusing on his years spent in Russia and the Russian government's attacks on Hermitage Capital Management. Browder's ongoing crusade against Russian corruption and the investigation into the death of his attorney Sergei Magnitsky are at the heart of Red Notice: A True Story of High Finance, Murder, and One Man's Fight for Justice. Petroleumworld does not necessarily share these views.
Editor's Note: This commentary was originally published by Reuters on March 20, 2015. Petroleumworld reprint this article in the interest of our readers.
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Petroleumworld News 03/23/2015
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