Quietly, Russia Beating The Market. Now Wall Street Eyes New IPOs

Quietly, Russia Beating The Market. Now Wall Street Eyes New IPOs

Russia is having a quietly successful year. As the market turns towards domestic pandemic ... [+] information, and the ongoing battle with China, Russia is clobbering the MSCI Emerging Markets, and leaving China in the dust. You wouldn't know this unless you're invested. And I, for one, am not. But the Russian Amazon AMZN , creatively called Ozon, is beating its American originator year-to-date. It did an initial public offering last year. It's been a good return on investment for investors. Compare that to Chinese IPOs like Didi; a total money loser. Home builder and property-tech company Samolet, value retailer Fix Price, paper and pulp giant Segezha and healthcare services and oncology treatment provider EMC were the big Russian IPOs so far. Ozon and Samolet more than doubled their market caps since listing. Ozon's market cap is now around $10. 5 billion and is open to U. S. retail investors. Samolet is only listed in Moscow, and not a buy for the Robinhood crowd. Those new listings represent a nice little headwind for Russian capital markets, in general. The shiny, modern, international finance center of Moscow was always designed with the hopes that it would one day be the Russian