Let’s Check In On Turkish Banks, Because Realistically, How Bad Could It … Oh, No.
It’s not looking great, but again, valuations are cheap!
It’s not looking great, but again, valuations are cheap!
“We see the game you are playing; we dare you.”
What’s going to be a real “shame” is if there’s not some resolution to this situation by Monday.
Get ready for capital controls.
“On July 15, 2016, Turkey came under attack by members of a shadowy group led by Fethullah Gulen, who leads his organization, officially described by my government as Fethullah Terrorist Organization, from a compound in rural Pennsylvania.”
“…markets need to be prepared for a hard landing in the economy, corporate defaults on foreign currency debt, and possible bank failures.”
After weeks spent teetering on the brink, the Turkish lira collapsed on Friday.
“Don’t be afraid at all, it will all pass.”
How to trigger a currency crisis in five months.
“Is the lira collapse over? Doubtful.”
Trade, Japan, Turkey, rubles and so much more.
“We were patient until last night.”
Come hell or high sanctions.
Erdogan isn’t going to like this.
What summer lull?
I guess we can all hope that Trump’s affinity for autocrats wins the day.
Accepting idiosyncratic, country-specific risk is part and parcel of investing in emerging markets, but this has gone well beyond that.
“Mueller is currently grinding the heel of his wingtip into Paul Manafort and Michael Cohen’s balls, not because he’s trying to flip them, but because he’s just a couple of weeks away from wrapping this whole thing up. Sounds legit!”
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