Beijing on the Moskva...

If you want to read some thoroughly unorthodox (from a liberal, free market point of view), almost entirely apologetic research on the Russian market, then I'd recommend Sovlink's Truth & Beauty pieces written by Eric Kraus, whom I have been in contact with earlier. He mentioned that I'd find a lot to disagree with in there, and he was certainly right on that account.

I will credit him however with a sharp, yet often rather cynical tongue and some apparent intellectual honesty, trying to take recourse to Popper's critical rationalism. But given his vested interest of physically being in the market (quite close to the Kremlin, actually) and having had a good ride, I attribute the bigger part of his optimism to investor's hubris. I'll certainly keep watching, and when they'll finally pull out, I'll start thinking about getting back in again ...