An Email Exchange between a Russian Investor and an American Investor

Jun 11, 2011 2 Comments by

Part One: Yandex logo, Dating Symbol blog

RE: Yandex IPO

from: Ivan S <>
to: William P <>

Hello William,

How have you been since we last spoke? We are well here in Moscow. I am curious to know what you think of the upcoming Yandex IPO.

[Ed.Note: Yandex, the Russian search engine equivalent of Google, controls 64% of online searches in Russia, will go public on NASDAQ, an American stock exchange, at the time of this writing. In the initial subscription (before going public) offered to investment banks, large mutual funds, hedge funds, pension funds and the occasional billionaire, Yandex had more orders for share purchases than they could fill, often seen as an encouraging sign by Wall Street types who look for such signs. When the shares become public on NASDAQ, where anyone can purchase them, the market capitalization (total market value of the company) will be over one billion US dollars, an impressive number by anyone’s measure.]

We, as most Russians, use Yandex and we like the product and are encouraged by excitement from the world investing market. Russia certainly has had problems between our politicians and our largest Russian companies. As the Russian proverb states, All are not cooks that walk with long knives.

I do not know all the problems between our Federal Assembly and our business billionaires because the Duma controls the media, but the Russian investors I know are grateful Yandex will float on an American exchange, if only to shame the Duma. We have stock exchanges in Russia but nobody uses them. Ha! Russian investors have a saying, all the curse words on Russian politicians’ lips now have American names. Ha! Maybe they will wake up and realize Russian people are tired of living like peasants.

To the success of our hopeless task!


RE: Yandex IPO Yahoo Logo, Dating Symbol blog

from: William P <>
to: Ivan S <>

Hello Ivan!

So glad to hear from you. We are well here in New York, thank you for asking. I have been following the Yandex story for a little while now. I am encouraged by the Yandex IPO as well, and for the sake of future investment in Russia, I hope Yandex is a success in the American capital markets.

I too have heard of the problems between your politicians and Russian business leaders. We have an expression for it in America: “Russia Risk.” It’s impossible for us to tell which Russian companies are legitimate, which are personal cash machines for Russian mobsters, and which will be seized by Russian politicians and nationalized when the mood strikes them.

We have business criminals in America too. We call them bankers and investment bankers. They created such a huge mortgage-backed securities a few years ago, that when demand outstripped supply, they gave loans to anyone who could fog a mirror, and when those loans came due and those mirror-foggers had no money to repay them, the investment bankers sold these worthless securities to their own clients while buying default insurance against them. Even then, because they had made so many of them, they were still going bankrupt themselves. But one of their own, a former CEO of one of the big investment banks, was Secretary of the US Treasury at the time. He bailed out his old firm, but let their two biggest competitors go bankrupt.

Cronyism is not particular to Russia, I assure you. But we do have the rule of law that is fair and just. Our expression is, the wheels of justice grind slowly, but exceedingly fine. Much of this cronyism and fraud is being investigated by our federal and state justice departments, and I believe the bad guys will get theirs in the end.

It is unfortunate that they did so much damage to innocent Americans (and foreigners). The ratings agencies were complicit in their scam and gave 90% of that garbage AAA ratings, the highest, safest there is, and unfortunately so many governments around the world trusted them and they too are going bankrupt.

It’s like something out of a Cold War spy novel, except in the novel, Russian bankers would have been writing the loans instead of American bankers. But in reality, Russia passed on these worthless loans. Perhaps your banks were leery of American bankers bearing gifts??? Nobody likes to play in a rigged game, am I right?

As for Yandex, I have more to say, but I must continue it in my next email.

Be well, and best to your family.

Your Friend,



Anthony Migyanka  is an economist, has appeared on “Cavuto” with Neil Cavuto, and is recognised by the Fox Business Network as an Investor Relations Expert. He has also contributed public company governance, stock market and economic trend commentary to other media outlets, including FamilyNet  TV, The Dow Jones Corporation and the Washington Post.anthony migyanka, Money and Property section, DAting Symbol blog

Anthony Migyanka is the Managing Partner

Mobile Money Minute, Texas USA

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2 Responses to “An Email Exchange between a Russian Investor and an American Investor”

  1. Payday cash advance says:

    Insight review about the Russian and American finances.

  2. Teirtza says:

    loool! this is a great idea! :)

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