Think about it, US is not a very attractive market in terms of investments now due to economic situation and falling dollar. Russia, on the other hand is booming economically, and there are thousands of undervalued stocks to invest in.
I agree with him about the unattractiveness of the broad U.S. market now, but I am still a little wary of investing in Russia directly. I do own shares of a T.Rowe Price mutual fund that has holdings in Russia (TREMX) and has more than doubled over the last 3 years. Of course, Russia is benefiting from the secular bull market in commodities, but there are ways to benefit from that secular bull market while taking on less political risk, in my opinion (e.g., investing in selected Canadian or Australian companies).
Then again, he's there, and I'm here, so perhaps there are aspects to the Russian story he sees that I don't. If I learn more, I'll post it here.
Here is a link to the English-version website of Beck's firm, Broker Credit Service, if anyone would like to check it out.