Russia, the brightest spot in emerging Europe

Storm clouds might be gathering over the Western economies, but further east the skies are still blue. The experience of the last few months and the problems associated with the credit crunch have taught a salutary lesson to investors who thought they were largely avoiding risk by investing in Western equity markets. As has become clear from the events bedevilling the financial sector, problems can occur in developed markets just as easily as they can in emerging markets. At times like this, investors need to stand back from the market noise and focus on the long-term growth prospects of ...