Egypt’s Government Resigns, Here’s Why You Need To Invest Now [Market Vectors Africa (ETF), Market Vectors Egypt Index ETF]

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February 25, 2014 11:38am NYSE:AFK NYSE:EGPT

egyptIt’s been three years since Hosni Mubarek was ousted during the Arab Spring. Then last summer, protesters forced the Egyptian army’s hand and President Mohamed Mursi was also sent packing. Now comes today’s big news of

Egypt’s government resigning, creating an opening for a powerful army chief to run for president.

No doubt this is a situation with a lot of uncertainty, but for the speculative investor the setting could be one with a huge reward. “In general with the markets, you want to be long doubt, and short hope,” says Jonathan Hoenig of CapitalistPig Hedge Fund in the attached video. “There’s probably no more doubt anywhere across the world than when it comes to Africa, and Egypt specifically.”

Africa “has been on an amazing tear,” Hoeng says since last year, and some macroeconomic and technical factors at play here. Hoenig, who was actually buying Egypt last year, is still invested. “We’re still long names like the Market Vectors Egypt Index ETF(NYSEARCA:EGPT), the ETF that tracks the Egyptian market, and even the Market Vectors Africa (ETF)(NYSEARCA:AFK), it’s the ETF that tracks Africa broadly.”

You can see the full “Breakout” segment below:

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