“Russia’s stock market right now is one of the cheapest in the world, and probably one of the most hated,” said investor and commodities guru Jim Rogers, chairman of Rogers Holdings, told Reuters. “This is the time to buy Russia.”

There is an old investing adage that advises “to buy when the blood is flowing on the streets”, meaning that the moments of generalized chaos offer the best opportunities to find bargains. The crisis in Ukraine hasn’t produced massive bloodshed but the foreign investors were certainly scared, not by the possibility of a military operation in Ukraine per se but by the possible hard sanctions imposed by the US and the European Union. This unwarranted panic made them sell shares of Russian companies, giving smart and patient investors like Jim Rogers the possibility to buy Russian shares at bargain prices.