Rubles to Dollars: Making Money on Russia's Exploding Financial Frontier

by Alexander Elder, Dr. Alexander Elder

Release Date: October, 1998

Edition: Hardcover

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The Real Deal on Russian Life

Dr. Elder's book, "Rubles to Dollars", was presented to me before my first trip to Russia four years ago. I was skeptical about reading it because it was supposed to be about the economy and financial markets. Not being a "finance person" I figured the book would be a bit on the dull side; consequently, I let it sit on the shelf for four years. During my summer break from the university, where I presently teach in Petrozavodsk, Russia, I decided to pick up the book again. I read it critically cover to cover and was actually quite impressed.
About the first three fourths of the book are all his insights into what doing business in Russia is like today and how Russia's history has shaped this misunderstood topic. The historical analysis and his observations on Russian psychology are dead on. The chapters that deal with the transition from the Soviet Era and present day Russian attitudes to the government and crime are particularly accurate and enriching.
The only problem with the book is its last few chapters on financial advice. The problem arises because the book went to print right before the 1998 currency collapse, which changed the whole country. However, in the last four years, by all appearances, Russia is back to where Dr. Elder was writing about before the collapse. In the book he acknowledges this timeliness of the financial information and how his advise could be obsolete by the time the reader gets the book, but, all in all, I agree with his insight and predictions for Russia's future.
Even if the specific financial advice is dated the overall theme is still acurate and his insights, though mostly about Moscow, would give you an idea about what it means to live in Russia on a daily basis. I haven't read a book that better explains what modern Russian life is like and I would look forward to a new addition to see to Dr. Elder has to say about Russia's financial situation today.

Unique View of an Emerging Giant

Dr. Elder has done it again. Just as he did in Trading for a Living he has taken a complex subject and made it amazingly clear. This however, is not a book for beginning traders. Because of his unique background as both Russian and American Dr. Elder is able to dig out information about the Russian economy and political situation that few others could. He paints, with a fine brush, an incredible picture of a sleeping giant in the process of awakening. The picture isn't always rosey and he let's us know the inherent dangers associated with the political instability and the role the crimminal element plays in the financial markets and business world. The opportunities are not sugar coated and yet are presented with such clarity that a shrewd investor has enough detailed information to allow him get right in and start making money. Long term investors with deep pockets have a once in a lifetime opportunity to not only line their own pockets but, to help a hard working and well educated people. If you want to really get to know the Russian people this is your book. Our politicians would do well to read this book and take notes. Once I began reading this book I couldn't put it down.