With all this in mind, what are the opportunities to make money in 2019?
In the first half of the new year, we would stay overweight in the broader exporters theme, with a focus on the precious metals names, both Polyus and Polymetal. In oil and gas, we would own LUKoil, Rosneft, and even Gazprom. Novatek, which we like to refer to as the “Ferrari of the Russian market,” is a must-own not only in all emerging market portfolios, but also in major oil and gas portfolios. Among the large domestic names, we would single out Sberbank and Yandex.
Luis Saenz is a co-director of equities at BCS Global Markets. The views expressed in opinion pieces do not necessarily reflect the editorial position of The Moscow Times. A version of this article appeared in our special “Russia in 2019” print issue. For more in the series, click here.
