Mikhail Prokhorov prophesies the second wave of crisis

One of the richest people in Russia Mikhail Prokhorov does not exclude the second wave of the crisis and continues to look for opportunities for business development.

"Do you like Aivazovsky’s painting“ Ninth Val ”? Here, hang it at home and look at it all day,” Prokhorov told reporters in response to the question of whether the second wave of the crisis will be, Reuters reports.

The situation in the market remains, in his opinion, difficult, but the government makes the correct strategic decisions "to determine the problem points."

Speaking about the aluminum giant Rusal, in which Prokhorov owns a stake package, he said that the company had already reached a profitable level after it worked to zero in 2008.

“Rusal” on Thursday reported that he made an offer “Vnesheconombank” about the restructuring of the loan for $ 4.5 billion.

Prokhorov said that he did not know the essence of this proposal, but, in his opinion, the State Bank has three options: to extend this loan (its validity expires at the end of 2009), convert it into any instruments or pick up the deposit that is a block of shares of Norilsk nickel and a share in the main assets of Rusal.

"The state theoretically may immediately want to take this bail, but it seems to me that this is not a very attractive option," Prokhorov said.

He also said that the Gold Pole strategy will not change with the purchase of 37% of the company's shares by businessman Suleiman Kerimov.

In addition, Prokhorov said that TGK-4 should not pay dividends, and also said that he would like to expand his participation in the electric power sector.

Note that last fall, Mikhail Prokhorov has already told what stereotypes to get rid of the economy.

Six economic myths from Prokhorov

Prokhorov identifies six myths, from which, according to him, we must get rid of.

The first myth is that it is necessary to ensure the stability of the whole economy. “There is no need to save what cannot be saved: the good old economy will no longer be in the West or in our country. There will be new rules of the game, the ratio of the value of money to assets, assessment of competitive advantages, animators and risks - everything will be significantly changed, and we can actively participate in this,” Prokhorov believes.

According to him, the second myth is that large accumulated reserves guarantee a solution to all problems. "Trust is not bought for money. Psychological compatibility and understanding of the actions of the government, market participants and the population are needed," he writes.

Prokhorov also does not agree that “nationalization is bad” - and this is the third myth .

“This is normal market practice in crisis conditions (along with bankruptcy). The state cannot and should not help everyone - the emphasis only on strategic and life -supporting, socially significant industries, and the cleaning of the weak and strengthening of strong companies is the basis of a market economy. The fact that the state will have a large number of reprivatized property through state banks, a historical fact (value. Assets are less than the value of obligations), ”the businessman emphasizes.

According to him, the only question is how to manage all this effectively without losing the quality of assets until the restoration of the markets and "the beginning of a new stage of privatization."

The fourth myth Prokhorov calls the opinion that it is possible to simultaneously preserve the gold and foreign exchange reserves and a strong national currency. “I think that it will not work, I will have to make a choice: either one or the other; and the sooner we decide, the better. Otherwise it may turn out again as always: no reserves, no strong ruble,” he believes.

According to Prokhorov, the fifth myth is that it is possible to maintain a high growth of population incomes. "The growth of wages that is ahead of labor productivity is no longer possible," the businessman emphasizes.

The sixth myth , according to him, is the belief that it is necessary to realize all the declared measures: "The situation is changing so quickly that there is nothing shameful (on the contrary - it is very professionally!) To instantly replace the ineffective measure effective. Example: do not spend 175 billion rubles on supporting the stock market - this will not help him anymore."