Telecommunications 2009 All-Russia Research Team
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Telecommunications 2009 All-Russia Research Team

In first place for a fifth straight year is Alexander Kazbegi of Renaissance Capital. Second team Evgeny Golossnoy Troika. Third team Olga Bystrova Credit Suisse

Alexander Kazbegi Renaissance

second team Evgeny Golossnoy Troika

third team Olga Bystrova Credit Suisse

In first place for a fifth straight year is Alexander Kazbegi of Renaissance Capital, who wins praise from one money manager for making recommendations that are "insightful and not purely academic." One example: Kazbegi, 47, upgraded Comstar United TeleSystems, Moscow’s largest telecommunications services provider, to buy in April 2008, at $230, believing that the company’s regional expansion would be a boon to its share price. At first it was, gaining more than 17 percent in two months before plunging in the broad market rout. Through April 2009 the stock was down 47.8 percent, but that was still 15.1 percentage points ahead of the sector. Kazbegi remains bullish. Unranked for the past two years, Evgeny Golossnoy of Troika Dialog lands in second place. One investor credits Golossnoy for calls that are based on "strong analysis rather than trend-following." In December the researcher recommended VolgaTelecom, a subsidiary of Russia’s largest telecom holding company, Svyazinvest, on the belief that the outfit’s restructuring efforts would bolster its bottom line. By the end of April, the stock had surged 26.3 percent, well ahead of the sector’s 15.9 percent advance. In third place is newcomer Olga Bystrova of Credit Suisse, lauded for her many "insights about the relative strengths and weaknesses of the companies she covers," in the words of one buy-sider. In February Bystrova reiterated her buy recommendation on the American depositary receipts of VimpelCommunications, citing the mobile phone operator’s strong growth prospects. The ADRs soared 54.2 percent through April.

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