Turkey: The Day After The Upgrade (TUR)

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March 28, 2013 10:44am NYSE:TUR

turkeyAs one of my friends and a top broker in Turkey (NYSEARCA:TUR) said to me this morning: “…a muted reaction and I like it”.


Image courtesy James Cridland: http://www.everystockphoto.com/photographer.php?photographer_id=18847

The Turkish economy’s dynamism makes it a good bet going forward

The market is not up gangbusters, but also, there are no sellers out there. S&P also said they will review Turkey’s credit rating towards the end of the year. We are really watching Moodys who needs to come around and deliver an investment grade rating, although, up until now, the firm has been hesitant to do so.

Having said all that, when I look around the emerging world and see all the hair on the BRICs, and pricey valuations in SE Asia, Turkey remains a market that will be an outperformer. I do think the CIVETS will continue to be a place where assets are bid higher as there is real growth and real consumption that is not reliant on China and EU.

This article is brought to you courtesy of Tim Seymour from Emerging Money.


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