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Author Topic: Financial investing acumen of Russian women, surprisingly low  (Read 1067 times)

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Online Guile

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Financial investing acumen of Russian women, surprisingly low
« on: September 30, 2018, 08:05:39 PM »
I come from a finance background and occasionally talk to my Russian women friends about investing.  I am quite surprised most have little to no knowledge in this field.

You ask them if they have ever bought stocks or bonds and they haven't.  Roth IRA, 401k, ETF's, dividend and index investing, it might as well be another language to them.  I was trying to explain how I made profits on a certain stock and had to pay capital gains...

One girl even said she had no credit card, just a regular debit card and only buys with cash.  Don't know if I really believed her though.

But in general they seem to lack any knowledge.  I don't know if financial planning is that important in Russia compared to the USA.

What are your own experiences with this?


Offline Texan77

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #1 on: September 30, 2018, 08:57:50 PM »
I find in the Ukraine those who do not have quite a bit of wealth already do not have much of a long view. They are more of a consumer than a saver. Like every where there are exceptions but most not like Asians.

Online Steveboy

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #2 on: September 30, 2018, 10:59:26 PM »
I come from a finance background and occasionally talk to my Russian women friends about investing.  I am quite surprised most have little to no knowledge in this field.

You ask them if they have ever bought stocks or bonds and they haven't.  Roth IRA, 401k, ETF's, dividend and index investing, it might as well be another language to them.  I was trying to explain how I made profits on a certain stock and had to pay capital gains...

One girl even said she had no credit card, just a regular debit card and only buys with cash.  Don't know if I really believed her though.

But in general they seem to lack any knowledge.  I don't know if financial planning is that important in Russia compared to the USA.

What are your own experiences with this?


Have you ever tried chatting to some English women about stocks and shares, capital gains ect ect?

I think you will find most of them will also have no idea about investing or saving... :laugh:

So I wouldn't let it worry you to much if a few Russian women you speak to also have little knowledge ...its no big deal and certainly nothing to loose any sleep over.. (:)
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Online andrewfi

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #3 on: October 01, 2018, 06:14:08 AM »
I think that once one climbs down from one's ivory tower that one might find that most people do not know much about finance and investing. Apart from anything else, one who is involved in finance and investing due to one's finance background might be expected to understand that, in order to invest, one first needs a surplus. If one does not have a surplus then one does not invest and one is thus unlikely to acquire investment knowledge at any level absent the need of that knowledge.

I guess that this is similar to how those who are from a finance background probably know next to nothing about coal mining, metallurgy or farming. We don't get too surprised about that, we understand how normal that is.

Wouldn't somebody from a finance background not understand just how poor most Ukrainians are and that investment knowledge is thus not something prioritized by most people?
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Online rosco

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #4 on: October 01, 2018, 09:50:46 AM »
All true. ^^

I have friends in the Uk who don't have the first clue about 'financial investing' and they've got a decent income. The problem is, a huge chunk of their monthly salary covers their living expenses and the rest of the disposable income gets used for actually living a life.

Without a surplus income where you have the opportunity to discuss possibilities with a financial advisor or being in finance yourself, its quite ignorant to expect Joe blogs to have FCA level 4 knowledge and experience.

Offline Gipsy

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #5 on: October 01, 2018, 10:00:37 AM »
I feel that Russians in general, don't trust Banks, Insurance Co's, Investment houses/funds etc.
IMHO, they try to live for today, hoping that tomorrow everything will be better and the pension will increase dramatically...
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Online Steveboy

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #6 on: October 01, 2018, 10:06:25 AM »
Well I was talking to a few Russian women a while back about the Universe and Solar system!! Its absolutely crazy! They knew nothing about it!!  :dh:

How can you live ON a planet IN a Universe and NOT know anything about it??

 :ROFL:
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Offline SL0413

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #7 on: October 01, 2018, 11:04:02 AM »
Banks are volatile in Ukraine.  I assume in Russia also?  My girlfriend puts money into her bank account to keep her debit Visa card topped off, but doesn't keep a regular savings account, CD, etc.  If banks can't be trusted, why would they trust brokerage firms?

Also, IRA, Roth IRA, 401K, etc are US terms and have no meaning there.  They are US inventions that helped the meteoric rise of mutual funds and create wealthy mutual fund managers.  And artificially inflate the stock market.  Instead of a people investing in stocks of their own volition, the government forced millions of people to do so with the allure of tax savings as long as they contribute yearly and not take any of it out until retirement.  All that money gets pumped into stocks, raising the value and keeping it up.  And new money keeps getting pumped in, via IRA/401k. 

Most people in the US have no real concept of the stock market, dividends, futures, derivatives, shorts, margins, margin calls, etc.  They put money in IRA/401k, pick one or two or 5 choices of mutual funds offered, and then get monthly/quarterly/yearly statements about the value of their plan.  They don't choose to invest in Amazon, or buy IPO's of Facebook, etc.  They select 50% of 401k deductions in something called large cap mutual fund, because it has these nice charts of how much $10,000 is worth today if they put money in it 5/10 yrs ago.

Offline AvHdB

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #8 on: October 01, 2018, 01:41:44 PM »
Banks are volatile in Ukraine.  I assume in Russia also?  My girlfriend puts money into her bank account to keep her debit Visa card topped off, but doesn't keep a regular savings account, CD, etc.  If banks can't be trusted, why would they trust brokerage firms?

Also, IRA, Roth IRA, 401K, etc are US terms and have no meaning there.  They are US inventions that helped the meteoric rise of mutual funds and create wealthy mutual fund managers.  And artificially inflate the stock market.  Instead of a people investing in stocks of their own volition, the government forced millions of people to do so with the allure of tax savings as long as they contribute yearly and not take any of it out until retirement.  All that money gets pumped into stocks, raising the value and keeping it up.  And new money keeps getting pumped in, via IRA/401k. 

Most people in the US have no real concept of the stock market, dividends, futures, derivatives, shorts, margins, margin calls, etc.  They put money in IRA/401k, pick one or two or 5 choices of mutual funds offered, and then get monthly/quarterly/yearly statements about the value of their plan.  They don't choose to invest in Amazon, or buy IPO's of Facebook, etc.  They select 50% of 401k deductions in something called large cap mutual fund, because it has these nice charts of how much $10,000 is worth today if they put money in it 5/10 yrs ago.

Bingo!
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Online Guile

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #9 on: October 01, 2018, 01:46:53 PM »
Yeah I know those are US terms for tax savings, retirement accounts but I couldn't deduct if Russia even offers that to its citizens.

And you are right many people stateside have no clue about investing either.   And some companies like Enron screwed their employees by tying their pensions to the stock, which of course was worthless after they went bust.

I manage my own portfolio and have done quite well with FANG etc...we've been on a 10 year bull run since the 2008 crash.




Online msmoby

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #10 on: October 01, 2018, 02:42:08 PM »


What are your own experiences with this?


1/ Clearly you've never watched TV ads for credit cards and credit ...  The 'Missus had 5 credit cards and enjoyed the idea of huge limits - by simply clearing them off each month, free airport lounges, etc.,

2/ I know several FSU ladies who don't trust financial institutions and have invested in bricks and mortar.


3/ Many Russians simply do not trust US  / RU institutions with their money / investments ... they've had their fingers burnt to many times.




Offline dcguyusa

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #11 on: October 01, 2018, 06:43:58 PM »
Well I was talking to a few Russian women a while back about the Universe and Solar system!! Its absolutely crazy! They knew nothing about it!!  :dh:

How can you live ON a planet IN a Universe and NOT know anything about it??

 :ROFL:

Well.... there are tons of people who use the internet, but know next to nothing as to what goes on when they click on something on a screen or know what is the backbone that allows you view a video on YouTube.  Some only know how to push a joystick button to fire the shooter figure displayed using an semi-automatic weapon.   :evilgrin0002: :chuckle: (:) :o :( :censored:
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Offline dcguyusa

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #12 on: October 01, 2018, 06:46:54 PM »
Banks are volatile in Ukraine.  I assume in Russia also?  My girlfriend puts money into her bank account to keep her debit Visa card topped off, but doesn't keep a regular savings account, CD, etc.  If banks can't be trusted, why would they trust brokerage firms?

Also, IRA, Roth IRA, 401K, etc are US terms and have no meaning there.  They are US inventions that helped the meteoric rise of mutual funds and create wealthy mutual fund managers.  And artificially inflate the stock market.  Instead of a people investing in stocks of their own volition, the government forced millions of people to do so with the allure of tax savings as long as they contribute yearly and not take any of it out until retirement.  All that money gets pumped into stocks, raising the value and keeping it up.  And new money keeps getting pumped in, via IRA/401k. 

Most people in the US have no real concept of the stock market, dividends, futures, derivatives, shorts, margins, margin calls, etc.  They put money in IRA/401k, pick one or two or 5 choices of mutual funds offered, and then get monthly/quarterly/yearly statements about the value of their plan.  They don't choose to invest in Amazon, or buy IPO's of Facebook, etc.  They select 50% of 401k deductions in something called large cap mutual fund, because it has these nice charts of how much $10,000 is worth today if they put money in it 5/10 yrs ago.

For many countries, there are no established financial companies that offer legitimate   investment offerings to the public.  In this country, many wealthy professionals drop their money with a hedge fund investor and have no clue when the whole scheme ends up dry. :money: :evilgrin0002:

And for those who avoid the market and commodities like the plague, they have only the banks to rely on with their never beating inflation returns.  So you are stuck between a rock and a hard place.  :ROFL:

High risk with possible high returns and also can get wiped out.
Zero risk and low returns and end up in the poor house.   :nod:
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Offline Confederate

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #13 on: October 01, 2018, 07:07:45 PM »
Well I was talking to a few Russian women a while back about the Universe and Solar system!! Its absolutely crazy! They knew nothing about it!!  :dh:

How can you live ON a planet IN a Universe and NOT know anything about it??

 :ROFL:

Yes but do they know anything about cryogenics?  :chuckle:
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Offline Texan77

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #14 on: October 01, 2018, 08:30:42 PM »
I feel that Russians in general, don't trust Banks, Insurance Co's, Investment houses/funds etc.
IMHO, they try to live for today, hoping that tomorrow everything will be better and the pension will increase dramatically...

Also I notice the communist background of the soviet day has an influence. She has made comments that she would like it to be where the government handled  problems like find a job, place to live and take care of retirement so she would have to do this.  There is also a sense of helplessness that there is nothing they can do about there retirement. They do not feel savers are rewarded because of unstable currency and government changes that has happened in the pass. Some of them feel this will likely continue in the future. I feel this has happened for so long it has become part of the cultural for many in Ukraine.




Offline Texan77

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #15 on: October 01, 2018, 08:46:41 PM »
Well I was talking to a few Russian women a while back about the Universe and Solar system!! Its absolutely crazy! They knew nothing about it!!  :dh:

How can you live ON a planet IN a Universe and NOT know anything about it??

 :ROFL:

If you want to talk about something the Woman of Ukraine will know something about ask her why she hates the government?

Online msmoby

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #16 on: October 02, 2018, 04:20:50 AM »
I meant UA ( Ukrainian ) not 'US' !

Online Steveboy

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #17 on: October 03, 2018, 03:16:54 AM »
What I find really amusing is some guys who maybe for example are bankers, financial advisors, investors , bank managers and that sort of thing..

You would think they would be good with their investments? (not that I would go near any sort of financial advisor ever! ) and you would think these guys would be at least a little bit smart? University education ?

Then I ask this?

Why do so many of them send 1000-10,000 $ Western Union to women they never met , usually in Ukraine ???  :laugh:

Then complain about being ripped off..

It makes you think doesn't it! I never will need these type of peoples help ever.. BUT if I was needing their financial help my first question to them would be
"Are you searching for a FSU women?"  :laugh:

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Offline Bruce Lee

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #18 on: October 03, 2018, 07:11:23 AM »
What I find really amusing is some guys who maybe for example are bankers, financial advisors, investors , bank managers and that sort of thing..

You would think they would be good with their investments? (not that I would go near any sort of financial advisor ever! ) and you would think these guys would be at least a little bit smart? University education ?

Then I ask this?

Why do so many of them send 1000-10,000 $ Western Union to women they never met , usually in Ukraine ???  :laugh:

Then complain about being ripped off..

It makes you think doesn't it! I never will need these type of peoples help ever.. BUT if I was needing their financial help my first question to them would be
"Are you searching for a FSU women?"  :laugh:
+1  :thumbsup: I remember writing something like this years ago and it has always generally amused me - we have blokes who were obviously intelligent enough to amount the funds in the first place yet seem to be easily parted with said funds by the smallest promise of Eastern European crumpet. I’ve come across many so-called  intelligent folks with barely measurable levels of common sense, perhaps that’s the problem!!

Sometimes I’m glad to be comparatively thick
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Online Steveboy

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #19 on: October 03, 2018, 08:11:41 AM »
What I find really amusing is some guys who maybe for example are bankers, financial advisors, investors , bank managers and that sort of thing..

You would think they would be good with their investments? (not that I would go near any sort of financial advisor ever! ) and you would think these guys would be at least a little bit smart? University education ?

Then I ask this?

Why do so many of them send 1000-10,000 $ Western Union to women they never met , usually in Ukraine ???  :laugh:

Then complain about being ripped off..

It makes you think doesn't it! I never will need these type of peoples help ever.. BUT if I was needing their financial help my first question to them would be
"Are you searching for a FSU women?"  :laugh:
+1  :thumbsup: I remember writing something like this years ago and it has always generally amused me - we have blokes who were obviously intelligent enough to amount the funds in the first place yet seem to be easily parted with said funds by the smallest promise of Eastern European crumpet. I’ve come across many so-called  intelligent folks with barely measurable levels of common sense, perhaps that’s the problem!!

Sometimes I’m glad to be comparatively thick

Sometimes I’m glad to be comparatively thick

Same for me.. Im glad to be some stupid wurzel from Dorset who can't spell or write let alone invest any money... :ROFL:
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Online Guile

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #20 on: October 03, 2018, 01:24:26 PM »
When it comes to women some guys will lose all common sense. They throw money at them rather than use their brain.

You can make a heck of a lot more money investing than working.  Look at Bitcoin, a huge risk but if you got in early and sold at the right time you are laughing.

I got friends who bought their dream homes with company stock options.  The gains were far greater than their salary.

Offline dcguyusa

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #21 on: October 03, 2018, 04:16:47 PM »
When it comes to women some guys will lose all common sense. They throw money at them rather than use their brain.

You can make a heck of a lot more money investing than working.  Look at Bitcoin, a huge risk but if you got in early and sold at the right time you are laughing.

I got friends who bought their dream homes with company stock options.  The gains were far greater than their salary.

I agree.  I looked at how one stock that I owned for decades went down to 30 cents per share in 2009 and then rocketed up to over $70 a share in 2017.  Had I made a big buy order when it was so depressed and then sold it all last year, that would convert a six figure buy order to an eight figure sell order if I decided to become a major shareholder during that time.  The profits would be treated as capital gains and not like winning the lottery.  Far better tax treatment.  :money:
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Online Guile

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #22 on: October 03, 2018, 04:59:16 PM »

I agree.  I looked at how one stock that I owned for decades went down to 30 cents per share in 2009 and then rocketed up to over $70 a share in 2017.    The profits would be treated as capital gains and not like winning the lottery.  Far better tax treatment.  :money:

Which stock was that?!  If you bought a few thousand $'s of Amazon stock right after the dot com crash at $10 you would be a millionaire now.

yeah capital gains tax is the other big factor. Max percentage is 20% if you are in the highest tax bracket.  Far lower than income tax.

You see all these athletes with huge million dollar contractsb but in reality 50% of it goes to Uncle Sam!

But Bitcoin is still the biggest bubble I have ever seen.  From 1 cent to $19000 that is a 190000 gain!!!  Of course it is crashing big time now.

Online Guile

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #23 on: October 03, 2018, 05:17:38 PM »
What's interesting is most of the super rich in USA made their money by starting a company, whereas most of the oligarches in Russia made it by stealing government assets!!   there's a reason why people think Putin could be the richest man in Russia.

Offline dcguyusa

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Re: Financial investing acumen of Russian women, surprisingly low
« Reply #24 on: October 04, 2018, 05:47:42 PM »

I agree.  I looked at how one stock that I owned for decades went down to 30 cents per share in 2009 and then rocketed up to over $70 a share in 2017.    The profits would be treated as capital gains and not like winning the lottery.  Far better tax treatment.  :money:

Which stock was that?!  If you bought a few thousand $'s of Amazon stock right after the dot com crash at $10 you would be a millionaire now.

yeah capital gains tax is the other big factor. Max percentage is 20% if you are in the highest tax bracket.  Far lower than income tax.

You see all these athletes with huge million dollar contractsb but in reality 50% of it goes to Uncle Sam!

But Bitcoin is still the biggest bubble I have ever seen.  From 1 cent to $19000 that is a 190000 gain!!!  Of course it is crashing big time now.

It was the stock for an entertainment/leisure company that provides vacation amenities (hotels, auto rentals, time share).  TICKER is CAR.  The Cendant corporation underwent two divestiture actions splitting into multiple companies.  If I had bought several million shares, I would have profited a lot in under 10 years,.  I had the money to buy that volume (based on the trading volume as the market plummeted in 2009), but of course, had the US economy never recovered, the bet would be lost money.

For many years, Amazon kept losing money in the 1990s.  I kept expecting it to shutdown like other dot com companies (remember pets.com?).  I could have bought into Google (Alphabet)  from the early times, but did not.  :snivel: :(  Bitcoin reminds me of the roulette wheel.  You jump in and out at the right time and never come back.   :chuckle:
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