As you’re well aware, tomorrow is kind of a big deal in Turkey.
Earlier today, we brought you a complete guide to Sunday’s all-important referendum, in which voters will decide whether Erdogan can consolidate his power. Well, actually they won’t be “deciding” anything because if the vote turns out to be “no,” well then Erdogan will just do it over until voters get it “right.”
But nevertheless, it’s a big deal.
So naturally, a lot of folks are interested in pre-referendum polls and especially polls conducted by Goldman Sachs who, according to Turkish politician Lütfü Türkkan’s Twitter account, has the “No’s” winning:
Goldman Sachs on Wednesday and Thursday as a result of the survey made on subjects 46,000. Yes: 44% No: 56%
https://twitter.com/LutfuTurkkan/status/853190295688806401
The only problem here is that apparently Goldman has never heard of that poll. Earlier today the bank sent Bloomberg an e-mail that read as follows:
The reports about a Goldman Sachs poll on the likely outcome of the Turkish referendum are untrue and should not be treated credibly.
Well, old Lütfü Türkkan didn’t take down his tweet and so a few minutes ago, Goldman decided to settle this shit once and for all via their official Twitter account to which the bank turned in an effort to let the whole world know that they have had just about enough of this rumor…
The reports about a Goldman Sachs poll on the likely outcome of the Turkish referendum are untrue and should not be treated credibly
— Goldman Sachs (@GoldmanSachs) April 15, 2017
Why does this matter?
Simple: because if that poll were indicative of the outcome, Erdogan is going to be one pissed off dictator about 24 hours from now.
We all had enough of those. We can’t figure out what Goldman Sachs sees in Socar Turkey and Petkim to take a minority position. Recent audit couldn’t establish a mass balance. With a very narrow crack spread in refining business, are they better off to play in less speculative tomato futures or pork bellies? They are bound to loose their shirts in lieu of aggressive return expectations from hungry Azerbaijani MBAs. Incompetence, corruption, project cost overruns and project delays. Get out while you can.