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Hermitage Capital's Browder dicusses Russia at Davos 2012

Wednesday, January 25, 2012 - 03:10

CEO and founder of Hermitage Capital Management, William Browder, gives his perspective on Russian ideas on the first day of this year's World Economic Forum in Davos.

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-- -- US selection that's offered a process offered that Russia this yet but brown as founder of hermitage capital once called Russia a criminal states. I'm he joins me now -- really get to see you again go guys great to have you back on the show is becoming a habit. -- I mentioned the post stuff that's around town I am that I saw yesterday Russia where I do is gain perspective. Give us your thoughts on office. Well I think that some broad brush as a place where ideas have to fall on squarely within the line of the them. A ruling. President -- getting very diplomatic front. But I don't regret Russia Russia is that as a country and and -- to put it very simply progressed as the country where that the purpose of the government has to steal money. I'm from the report from the Russian government budget and the steal money from businessmen and it's it's a a what I would call -- mafia state. And -- You know for them to come to dollars and put posters up yet to try to it would present themselves as legitimate is it's it's truly remarkable all right I'm. You Paulson to when -- when you see the demonstrations out on the streets are you are you heartened by what you see there are you surprised by what we've seen on the streets -- some. Well if you know what we saw that the the what was most interesting about these demonstrations is that on the fifth of December the day after the parliamentary elections were deemed to have been fraudulent. I'm a young man man in the Lexington home it was a very popular blogger put it put an a little -- happens that I'm going out on the street to protest. Please come get 6000 people showed up and they said Putin is a -- is it is all right is it gonna make it -- the difference. Absolutely -- and the reason is because the next demonstrations 60000 people came out. And then a 100000 people came out and and it's no longer the fear has just evaporated to say that Putin is that the that this thing McCain is not wearing any clothes. And the reason why that's so important is because his whole way of keeping people in check. Was this fear and now it is not there you can't put the genie back in the bottle -- -- -- just -- opportunities. Except that again reach out of the -- say looked at that sweet app suite. Contact masters which -- -- to say it has sent doubles today I tell us what you think about yet the demonstrations the recent demonstrations on the streets of Moscow and across Russia. I go Russia is a place invest. Is getting any better team. -- well for slot I don't invest there anymore and in just just just to recap what happened I was largest investor -- complain about corruption. I was an expelled from the country the police tried to expert breed on my assets my lawyer tried to get involved stoppage. And he was arrested tortured and killed. You don't invest in places where your lawyer who tries to defend you gets arrested tortured and -- -- Dem. Colleagues -- ex colleagues fuels colleagues of yours I am. -- they see it is a cheap price invest I guess is is is the question outlook because let's face it stops that's when you can sure that it actually do. And went and and stocks look cheap in Venezuela three years ago I'm and then they -- them to re nationalize the companies that stocks in Russia are cheap but they're cheaper reason and the reason is because you have no. Predictability. About who's gonna come knocking on your door asking for your stuff. And potentially doing worse felt great to see many things in --

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Hermitage Capital's Browder dicusses Russia at Davos 2012

Wednesday, January 25, 2012 - 03:10