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9/17/18 1:37AM
Re: Turkey Takes Action on Strained Economy With Big Rate Rise (WSJ)
12
Yeah, Erdogan seems to want to have the best of both worlds right now - publically berate the CB for hiking (I assume for domestic political support purposes) while letting them do it anyway to... login to read the rest
That’s all fair. I thought the autocracy/governance/geopolitical stuff was largely in the price. Seems like that wasn’t the case. Maybe (hopefully) it is by now.
One point you made here that I’d push back on is... login to read the rest
Ooof is right.
In terms of HQ/defensive companies, I think the names I mentioned in the write up all have something going for them - all make decent RoICs and either export a lot (Ford Otomotiv,... login to read the rest
The difficulty with Turkey is governance and geopolitical risk. Erdogan started his presidency very well in many respects, but has turned more and more autocratic. He seems to have gone all-in after the failed 'coup'... login to read the rest
Thanks for pointing that out, didn't give much thought to market cap since its an ETF, but point taken - sadly I can't seem to find a way to edit it ex-post
Agreed, there's always risk... login to read the rest
In the summary at the top of the writeup you have a market cap of $28M; I think (checking from Bloomberg) that the market cap is $296.69M - the discrepancy may explain why there are... login to read the rest
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