The Dog Factor

The Economist's Buttonwood has developed a new term:  "The DOG (Discount for Obnoxious Governments) Factor" as described in the Trillion-Dollar boo boo or Bad Government costs investors a fortune. Currently Russia is the top dog.  Remember how BRIC (Brasil, Russia, India and China) used to be touted as great investment opportunities? Well Russia's capriciousness with property rights and the rule of law kept it a seeming bargain all the time. Buttonwood figures a trillion in lost value for Russia because Putin is so obnoxious. The other three falter as well depending on their degree of noxious decision making.