Quick Pick: The Play for $150 Oil

Oil is already more than $100 a barrel. If it reaches $150/barrel, Russia would be a huge beneficiary.

Van Eck Global's Market Vectors Russia (RSX - commentary - Cramer's Take) is where it's at. Debuting in May at a little over $30 a share, RSX has quickly risen and outperformed expectations, currently sitting pretty at just under $54 a share.

Successful new exchange-traded funds tend to have one of three characteristics:

1. A focus on a "hot" area of the market;
2. substantially lower expenses than competing products;
3. is the first ETF in a particular asset class.

RSX meets all three criteria, which is why it's a major hit with investors. RSX is the first ETF to focus on Russia, one of the best-performing markets in the last five years. Therefore, RSX not only provides an interesting industry to invest in, but also offers investors a convenient means of accessing the untapped financial market of Russia.

However, investing in Russia is not for the faint of heart. Apart from the obvious risks, there are numerous legal, political and economic risks that, while common to any emerging market, are particularly risky in Russia. President Vladimir Putin has become increasingly involved in the country's economy over the past several years and exerts an iron fist over the country's energy sector. The European Union has also introduced several policy proposals in 2007 with the goal of decreasing the influence of energy companies in the region.

If you favor a high-risk, high-return approach, consider this Russian ETF for your portfolio.

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At the time of publication, Lindzon had no positions in any of the equities mentioned in this column, although positions may change at any time.

Howard Lindzon is a Managing Member of Biltmore Ventures (Venture Capital Fund), Consultant to CBS Interactive and Founder of WallStrip.com (recently purchased by CBS). He is also a Managing Member of Lindzon Capital Partners, a hedge fund started in 1998. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Lindzon appreciates your feedback; click here to send him an email.