Running with the Russia bulls

THE ALCHEMIST

About five minutes into a perfectly professional presentation the delegates started to fidget. Russia just didn't interest them. You could cut the solid collective disinterest with a knife.

The reaction clearly exasperated the speaker, a Russian fund manager who had had too many years of dealing with a similar response when trying to entice investors to his home market. Yet you can not exactly accuse your audience, your potential clients, of woeful ignorance, blatant prejudice and fear. Or can you? He came close, joking that there are none so blind as those who will not see. The fact is, despite some stellar performance over the years, and recent indicators all heading the right way, scepticism about the R in the newly adored BRICs runs very deep indeed. Russia bulls are...