According to the results of Friday, investors should not yet make hasty decisions and sell assets, says Artem Zaigrin, chief economist at Sova Capital: it is impossible to say for sure that the market has already reflected the new reality in prices. The scale of possible problems due to the new strain is not clear, as well as the required level of support measures (additional government spending, softer monetary policy). According to Zaigrin, more clarity will come within the next week.
Over the past five years, the total profitability (with dividends) of the Mosbirzh index is higher than that of the S&P 500 index when converted into one currency, said Mikhail Kuzin, investment director at BCS World of Investments. But if you sell Russian shares every time tensions arise, you will hardly be able to make money. It is better to act the other way around, Kuzin believes, and to buy on drawdowns – “for this you need to have strong nerves, but in recent years this quality has paid off.”
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