Moscow
IN the 1990s, when Russian markets were opening up to a brave few foreign investors, East Capital AB Founder Peter Elam Hakansson had a foolproof way of rooting out the good companies from the bad. He visited their offices in winter to check if they could afford heating. In the early years of market capitalism in Russia, it was almost impossible to find reliable information about companies from earnings reports, so those investors prepared to travel to run-down Siberian cities in sub-zero temperatures...
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