Hello! This week we look at Russia’s lavish annual display for foreign investors – the St. Petersburg International Economic Forum. Never before has it been so odd. Westerners stayed away altogether: instead, the star attractions were the leader of Ukraine’s breakaway Donetsk People’s Republic (DNR) and a representative of the Afghan Taliban. One gave interviews about the execution of captured British citizens serving in the Ukrainian military, the other shied away from female journalists.

The St. Petersburg International Economic Forum has never been so strange. Western top managers were absent, and the main characters were the head of the DPR, who distributed an interview about the prospects for the execution of the British military personnel of the Armed Forces, and the representative of the Taliban, who shied away from journalists.

The theme of the release is why the “crypto winter” has come and when it will end Bitcoin broke another low this week, dropping below $20,000. The coming "crypto winter" has already buried two high-profile crypto projects, the largest companies are freezing hiring and starting to cut back. The next time, investors will be lucky to make money on the market growth not earlier than 2024, analysts predict.

Kazakh Foreign Minister Mukhtar Tleuberdi called on the world to abandon nuclear weapons and develop a plan to eliminate them by 2045, the 100th anniversary of the UN. Despite many obstacles, it is necessary to start work in this direction now, the diplomat is convinced.

The Fed’s growth cycle, as well as new inflation data, force investors to constantly overestimate the fair value of the shares. Mikhail Kart, partner of the VLG Capital investment company, clearly shows why growth shares are more sensitive to changes in bets and how the assessment of the fair value of shares according to the model of discounted cash flows is changing. Investors can use this approach to evaluate Russian companies as soon as their business is more clear.