Put Money to Work In Russia?

Russia landed in the headlines Wednesday amid chatter that Moscow wants to attract new capital.

According to the Wall Street Journal, Russian Prime Minister Vladimir Putin promised to loosen restrictions on foreign investment in some sectors next year, hours after President Dmitry Medvedev reiterated his calls to improve what he called Russia's "bad" investment climate.

So should you put your money to work in Russia? For insights we turned to international expert David Riedel of Riedel Research.

“It’s a market that’s not to be ignored,” he tells us.

With Pepsi making an investment in Moscow-based Wimm Bill Dann and GE announcing a joint ventures to build telecom and infrastructure in Russia, Riedel advocates exposure to Russia in the portfolio.

However, he’s cautious about Russia’s energy complex with the government exercising a heavy hand in that sector. Instead Riedel recommends playing the emerging middle class by investing in consumer related names such as telecom companies Mobile Telesystems and/ or Vimplecom .

Check out our full interview with Riedel. Watch the video now.

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Trader disclosure: On December 29, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Cortes is long U.S. Treasuries; Cortes is short (XRT) vs. (SPY); Cortes owns (TSN); Cortes is short (XHB) vs. S&P futures; Jon Najarian owns (AAPL), is short (AAPL) calls; Jon Najarian owns (AGU), is short (AGU) calls; Jon Najarian owns (BBT), is short (BBT) calls; Jon Najarian owns (BBY), is short (BBY) calls; Jon Najarian owns (BJ), is short (BJ) calls; Jon Najarian owns (BTU), is short (BTU) calls; Jon Najarian owns (CSCO), is short (CSCO) calls; Jon Najarian owns (GS), is short (GS) calls; Jon Najarian owns (MCP), is short (MCP) calls; Jon Najarian owns (NFLX), is short (NFLX) calls; Jon Najarian owns (NKE), is short (NKE) calls; Jon Najarian owns (REE), is short (REE) calls; Jon Najarian owns (SWN); Pete Najarian owns (BBY) calls; Pete Najarian owns (C); Pete Najarian owns (F) bonds; Pete Najarian owns (GE); Pete Najarian owns (MS); Pete Najarian owns (NKE) call spreads; Pete Najarian owns (PFE); Pete Najarian owns (RSX); Pete Najarian owns (YHOO); Pete Najarian owns (MSFT) call spreads; Gordon is long U.S. Treasuries; Weiss owns (FAS), (NIHD), (VZ), (QCOM), (BJS), (MEE), (COP), (DVN), (HK); Weiss owns (NFLX) puts

DENNIS GARTMAN
Funds Managed by Dennis Gartman Are Short the Euro

LANCE HELFERT
Helfert And West Coast Asset Management Own (BR), (TAP), (LYV)

DAVID RIEDEL
Riedel has no disclosures

BRETT ARENDS
Arends has no disclosures

PETE NAJARIAN SOT
Pete Najarian owned (RSX) on 12/28/2010

STEVE CORTES SOT
Cortes was short
Oil on 11/01/2010

MIKE KHOUW
Cantor Fitzgerald & Co. has no disclosure in (BTU)

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