We recently wrote in "The Next Move" the following:
If one is long BP in particular and oil in general one is long the Russian ruble which has taken a huge hit. We think there's much money there once the sanctions get lifted and they will barring Armageddon.
The link below gives an excellent example of just how hard the Russian ruble has been hit. If you follow the investment philosophy of one of the legends, the late John Templeton, you're looking at, give or take, maximum pessimism.
Or if you're a Warren Buffett groupie here's a quote from him dating to 2008 when all this gloom erupted.
"...A little history here: During the Depression, the Dow hit its low, 41, on July 8, 1932. Economic conditions, though, kept deteriorating until Franklin D. Roosevelt took office in March 1933. By that time, the market had already advanced 30 percent. Or think back to the early days of World War II, when things were going badly for the United States in Europe and the Pacific. The market hit bottom in April 1942, well before Allied fortunes turned. Again, in the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank. In short, bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price.
No risk, no opportunity. Just don't try to tell the regulators.
http://static4.businessinsider.com/image/54516b726bb3f7fb324beeda-960/cotd-russia-currency-tom-keene.jpg
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