Recommending Russia's giant natural gas company Gazprom (OTCPK:OGZPY) to readers last year was a controversial pick and one that has not worked out as well as I might have hoped. I went into it well aware of the attendant risks of owning a company that is virtually an arm of the Russian government and that has a reputation for not working and playing well with others. While the roughly 3% gain since then isn't horrible, it has lagged other turnaround energy stories like Statoil (NYSE:STO) as well as its home index (though only by a couple of percentage points).
Given the Russian government's combative attitude toward Europe and the West, I'm less bullish that Gazprom's valuation...
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