Russia keeps grabbing headlines as it decides what to do with American fugitive Edward Snowden — the former NSA contractor who recently revealed top secret information about the agency’s mass surveillance.
But there’s more than just a whistleblower hiding out in the giant country.
Although Russia is one of the four BRIC emerging markets — once thought to be home to huge growth — investors often fear putting their cash into the country because of corruption, red tape and other concerns.
Such skepticism seems more than justified so far this year. Just last week, investors fled Russian equities to the tune of $9 billion after prominent opposition leader Aleksey Navalny was sentenced to five years in prison — a sign to many that Putin’s politics are anything but fair. All in all, the SPDR S&P Russia ETF (RBL) and Market Vector Russia ETF (RSX) have each fallen nearly 10% this year.
Still, a few Russian stocks have sneakily been soaring so far in 2013, even as most of the country’s equities are sitting in the red. Take a look: