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BEST OF THE GIST: Bill Browder On Investing In Russia, And Lucky Charms Get Unlucky

The Gist

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The Best Way to Go From Communism to Capitalism Is to Buy Vouchers a by Sharers of Russian Companies

i came up with this great idea of putting a sudanti on and becoming a capitalist, the alex peket method. So i fast for a number of years, am in london, working for solomon brothers. It was the beginning of the russian privatization programme. They decided that to go from communism to capitalism, the best way they could do that would be to give everything away for free. I did the math, and i figured out that these companies traded at a 99 point seven % discount to western comparable companies. And so you don't have to be a rocket scientist to figure out that that's an interesting investment. That's called a buying opportunity.

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