Around 2007, Tim Rogers — Valartis’ MC Russian Market Fund PM — said something very interesting about prospects in Russia. He thought the days of making a killing just by picking under-appreciated Russian companies (i.e., pretty much any Russian company) were pretty much gone after the third level of privatizations.
Tim Rogers used to manage the MC Russian Market Fund for Valartis out of Geneva. I first met him in 2005-6, invested in his fund(s) soon afterward and love the guy as a good solid manager who — perhaps unsurprisingly for a Canadian — is also a very nice guy. He came to fund management and Russia investment in a rather roundabout way.
In the early/mid 90’s his girlfriend (he tells this story to a lot of investors, so I’m not breaching any confidences) wanted to travel overland from Hong Kong to Geneva. A large part of this trip necessitated train travel through Yeltsin’s Russia. The energy of the place then got him thinking about investing in the newly-privatized parts of Russian industry. Continue reading “Background: Whatever Happened to Tim Rogers?”→