Open the newspaper today and you might have felt a little like it was 1981 and the Berlin wall never came down. Russian President Vladimir Putin is talking tough about an arms race with the West, saying he might point nuclear weapons at European cities.
This in response to U.S. plans to spend $3.5B on a missile shield with stations in Poland and the Czech Republic.
Putin's strong words come after the Kremlin's attempt to takeover an $18 billion natural gas project, originally granted to BP, and amid accusations that Russia was ultimately behind the uranium poisoning of the KGB defector in London.
We may find out this week how much Putin is hankering for the good ole days. He, President Bush and other heads of state meet in Germany Wednesday for the G8 summit. A possible cold war redux in Russia; that's this week's Fast Money World.
Constance Hunter, an international Hedge Fund Manager and President of Coronat Capital Management joins the guys for this conversation.
Hunter says Putin is a credible threat, but she sees the threat as saber rattling more than anything else. She’s not terribly concerned that the world is headed into another cold world.
Hunter adds what’s more significant is that Russia now has a growing middle class and consequently she recommends Vimpel-Communications (VIP) which capitalizes on the trend that many consumers want mobile phones in Russia.
She adds luxury stocks such as LVMH Moet Hennessy (LVMUY) and Tiffany (TIF) are also smart plays with growing affluence in Russia.
Eric Bolling agrees and says Putin won’t jeopardize that. Eric’s not worried, either.
Pete Najarian says he would buy puts on anything in Russia because he thinks Putin has ice in his veins.
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Trader disclosure: On June 1, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (AAPL), (DNDN), (HOT), (MAR), (ONXX); Bolling Owns (ICE), (DIS), (T), (NMX), Sugar, Natural Gas Futures, Bolling Has Closed Out Of His Coffee Trade: CNBC Is A Service Of NBC Universal And Dow Jones; Coronat Capital Management Owns Gazprom; Coronat Capital Management Owns BMB Muniagaz