FLRU - Fortress Russia: An Underrated Economy Poised For A Resilient Recovery And Long-Term Growth
By Justin Leverenz, CFA, Team Leader and Senior Portfolio Manager
In a previous blog, "The coronavirus is proving to be a black swan event - unpredictable and with massive consequences," we noted that black swan events create consequences, but opportunities for investors can arise from them. We see this as a black swan event that will have profound systemic consequences including a massive competitive shift in the global energy market.
The collapse in demand for energy - coupled with a dramatic retreat in crude oil and gas prices - should result in