If you thought Wall Street was bad, try investing in Russia. Today, Moscow’s Interbank Currency Exchange (MISEX) has halted for a third day to prevent a run on local stocks.

Andrew Snyder says when an emerging market such as Russia sells off unexpectedly it opens up great buying opportunities.

Andrew recommends three stocks that have been dramatically oversold in the crash. They are Vimpel-Communications (NYSE:VIP), Rostelecom (NYSE:ROS) and Mechel OAO (NYSE:MTL).

This from Today’s Financial News:

Although American financial problems are dominating headlines today, Russia is having some serious problems of its own.

Yesterday, Moscow and the country’s Central Bank were forced to infuse $20 billion into the Russia’s top banks. Meanwhile, the country’s major equity exchange, the Moscow Interbank Currency Exchange (MISEX), fell close to 20% in intraday trading, forcing officials to halt trading and close shop an hour earlier than normal.

Today the free fall continued, forcing Russia to raise its infusion to over $40 billion and halt trading once again. The purge needed to be stopped before it imploded and corporate valuations were needlessly erased.

If this sounds like a dire situation it is because it most certainly is.  But it is not the end of the world.

Few economists believed Russia’s economy could keep up its breakneck pace. Especially since the gains were based primarily on highly cyclical businesses. Remember, nearly 80% of the country’s market is based on commodities, which typically drop even faster than they climb.

Russia may be reeling in pain, but its problems have created a great investment opportunity. Every single one of its listed equities was in the red yesterday, whether they deserved to be or not. Some of the countries strongest and fastest-growing companies saw their valuations lowered by ten percent or more.

It gives you a perfect buying opportunity. Excellent investments are selling at a rare discount.

A powerful buying opportunity

We took one main rule from the Taipan Group when we created TodaysFinancialNews.com. When an emerging market sells off unexpectedly, pick the three ADRs that have sold off most and buy:

Three stocks in particular caught my eye.  Each of them saw its valuation erroneously stripped by huge proportions.

The first company you need to take a look at is Vimpel-Communications (NYSE:VIP). It’s one of Russia’s strongest and most profitable telecoms. It is the Verizon of Russia.

The great thing about telecoms is their businesses rarely erode. Once folks sign up for their services, they stick around for a long time. Because of that aspect of its business model, Vimpel does not deserve the nearly 50% cut in its valuation it has seen over the past nine months.

After the company announced its most recent earnings results, smart investors realized its value should be increasing. Vimpel’s revenues are growing and its entry into new markets continues at a hefty pace.

Shares are trading at a fantastic discount.  Do not miss this opportunity to get a strong foreign company, which is listed on the NYSE, at a price that will make any value investor drool.

After you are done buying your shares of Vimpel, take a look at Mechel OAO (NYSE:MTL). Four months ago, the mining and steel company was trading for $58. Today, you can get shares for under $20.

Will it go back to $58 anytime soon? Probably not.

Does a company with $7.6 billion in revenues last year deserve a valuation of just $8.09 billion?  Absolutely not! This company is worth at least twice that.  Shares should be selling for around $40, which means American investors have a fantastic opportunity at their feet.

With its coal and steel products being sold around the world, Mechel will continue to see strong annual revenues. After all, the coal industry is just like the telecom industry.  Once a coal plant fires up, it will keep those fires burning for decades.  To do it, they need a constant supply of coal.

Buying shares of this company is no different than buying a dollar bill for just fifty cents.  It is a deal you cannot refuse.

Finally, let’s head back to the Russian telecom. On Monday, Rostelecom (NYSE:ROS) was trading for $65.

Yesterday… about $42.

Today… below $30.

Shares of the company have plummeted thanks to the overall weakness in Moscow. The company is not quite as financially strong as the other two companies, but is so undervalued at current prices that it is an opportunity you cannot miss.

Once the shakeout in Russia slows, investors will start climbing out of the cracks and crevasses they are hiding in and will start looking for the most undervalued and best-performing investments they can find.

No doubt, Rostelecom will be one of them. Just a small bounce in share price could make you big money.

Thanks to the Feds intervention, Wall Street is making a controlled descent.  Russia made an uncontrolled plunge.

Now that Moscow has reached the bottom, smart investors need to search out the most undervalued companies and buy them at fire-sale kind of prices.

This is not an investing opportunity that comes every day.  Take advantage of it.

Source: Moscow crashes: Time to buy Vimpel-Communications (VIP), Mechel (MTL) and Rostelecom (ROS)?