Hmmmm

I was out and about this morning on a very important errand that I will detail subsequently. One of the interviews I heard on the Sirius was about Russia with the manager of the Third Millennium Russia Fund (TMRIX).

According to the lead in Ted said the Russian Market is up 83% year to date and in the next sentence he said that TMRIX is up 47% for the year. The chart here is as far back as Big Charts goes.

The fund has taken a big departure from the index and has lagged badly. I wish they would have asked the manager about this. One little piece of the lag is the dividend reduction as you see in mid-December. I find this strange.

Another thing about Russia is all the chatter about Gazprom (OGZPF). The shares are restricted as to how much can be held by foreign investors. That restriction will loosen up by some measure allowing more foreigners to pile in. This is generally viewed as a positive for the shares.
So lemme get this straight, more supply will be good? Oooh, I don't know about that one. There are plenty of people that know more about this trade than I do but everyone thinking more supply is a positive could be a trade that should be faded.