Turkey

[Lance]

Anyone looking at anything in Turkey?

 

Thanks

Lance

[rb]

Anadolu Efes is actually a fine company if you're interested.

 

But I'm not looking to buy anything there. Turkey is pretty much a basket case at the best of times. But when you have in charge an authoritarian mad man who's waging an economic holy war i think it's best to stay away. Turkey has all of the ingredients to be a big blowup. All it needs is a good stir. And there's a guy brandishing around a big spoon.

[petec]

Turkey has precipitated a broader EM sell off though, so you may be able to find bargains elsewhere.

[Gregmal]

IDK, you can literally make 10% a year without trying being 50% in cash and 50% in high quality US equities. Why screw around with Turkey?

[Spekulatius]

IDK, you can literally make 10% a year without trying being 50% in cash and 50% in high quality US equities. Why screw around with Turkey?

 

So you think you can make almost 20% being in US stocks 100% consistently? Emerging markets have their issues, but if you get the timing right, you can make outsized returns. Some stocks in Argentina went up 10x in a couple of years, only to lose 80% again.

[jc1000]

Any recommendations for a US citizen to buy Turkish stocks directly?  None of the traditional discount brokers seem to allow it.  I see some of the bigger brokerages (Citi, Deutsche, Credit Suisse, etc) have Turkish entities registered to trade on the Istanbul exchange, but I haven't explored using a full service broker yet.

 

Thanks for any tips.

[pantsparty]

I had an idea, but did not know how to act on it.

Turkey produces some 70% of the worlds hazelnuts (which are awesome btw).

 

Nutella is insanely popular, and is hazelnut based. That said, they already invested in hazelnut producers in Turkey in ~2015.

 

Either way, the drop in the Lira seemed like a nice way to go and get in on this market.

[Cigarbutt]

I had an idea, but did not know how to act on it.

Turkey produces some 70% of the worlds hazelnuts (which are awesome btw).

Nutella is insanely popular, and is hazelnut based. That said, they already invested in hazelnut producers in Turkey in ~2015.

Either way, the drop in the Lira seemed like a nice way to go and get in on this market.

Roasted hazelnuts are awesome.

 

I know somebody who works at Ferrero's HQ in Alba and I understand that Nutella's flavour and aroma are related to a molecule called filbertone (among 37 others!) which is also used in perfumes and cosmetics.

Global sourcing of hazelnuts is an issue as reports mention that Ferrero needs anywhere between 25 to 50% of global production.

 

Remembering that Mr. Buffett once invested in cocoa beans, if you have time, could you elaborate about the bolded part?

https://www.npr.org/sections/thesalt/2014/09/16/347749070/thanks-to-nutella-the-world-needs-more-hazelnuts

https://www.reuters.com/article/us-agriculture-hazelnuts-ferrero/nutella-maker-ferrero-seeks-to-crack-turkish-grip-on-hazelnuts-idUSKBN1D22L4

 

 

[Spekulatius]

Hazelnuts aside, the country is actually improving in terms of foreign sentiment. While Erdogan is Crazy, he actually has released the Priest that was the reason for the US sanctions and the issues there seem to be at least talks about a similar issue with Germany. I also think they the recent issue with Khashoggi in the Saudi embassy in Turkey is clearly helping (and is exploited by Erdogan ).

 

Like it or not, Turkey is a NATO country and is strategically very important and the NATO needs to think twice about the relations, as I am sure Russia (which has been historically an adversary) would appreciate getting closer and dominate the Black Sea. The EU Ned’s to cooperate with Turkey because they are a gatekeeperfor the refuge stream from Syria and because a couple million Turkish people live in Germany and there are close ties economically.

 

So maybe this is not a total basket case. Not a big factor, I travelled to Turkey on business last year and was quite impressed by the people, there is a budding industry and some high tech there. The country reminds me a bit of California as well, as far as climate and landscape are concerned.

[Cigarbutt]

Hazelnuts aside, the country is actually improving in terms of foreign sentiment. While Erdogan is Crazy, he actually has released the Priest that was the reason for the US sanctions and the issues there seem to be at least talks about a similar issue with Germany. I also think they the recent issue with Khashoggi in the Saudi embassy in Turkey is clearly helping (and is exploited by Erdogan ).

Like it or not, Turkey is a NATO country and is strategically very important and the NATO needs to think twice about the relations, as I am sure Russia (which has been historically an adversary) would appreciate getting closer and dominate the Black Sea. The EU Ned’s to cooperate with Turkey because they are a gatekeeperfor the refuge stream from Syria and because a couple million Turkish people live in Germany and there are close ties economically.

So maybe this is not a total basket case. Not a big factor, I travelled to Turkey on business last year and was quite impressed by the people, there is a budding industry and some high tech there. The country reminds me a bit of California as well, as far as climate and landscape are concerned.

The hazelnut topic has to do with what Peter Lynch has suggested: Buy what you like (and understand). :)

If you don't allow me to discuss hazelnuts, what is there left? Writing a poem about blockchain and cryptos? ;)

 

Anyways, thanks for the geo-political analysis of Turkey.

I'll be able to skip Le Monde Diplomatique and spend the day outside.

To the point, your posts are always dense and powerful.

I'd wish to have this talent.

[kiwing100]

 

Anyone looking at this market?

 

Does anyone know the name of the warehouse business in Turkey that Pabrai Funds owns?

[Thelilyinvestor]

 

Anyone looking at this market?

 

Does anyone know the name of the warehouse business in Turkey that Pabrai Funds owns?

 

Ticker Symbol is RYSAS. Down 10% today.

 

If the situation in Turkey continues and Pabrai doesn´t sell, I will start a position.

 

My strategy is to clone Pabrai here because there are no annual reports or financial statements in English, is all in Turkish Language

[MattR]

 

Anyone looking at this market?

 

Does anyone know the name of the warehouse business in Turkey that Pabrai Funds owns?

 

Ticker Symbol is RYSAS. Down 10% today.

 

If the situation in Turkey continues and Pabrai doesn´t sell, I will start a position.

 

My strategy is to clone Pabrai here because there are no annual reports or financial statements in English, is all in Turkish Language

Google Translate does a pretty decent job at translating the annual report pdf

[rkbabang]

 

Anyone looking at this market?

 

Does anyone know the name of the warehouse business in Turkey that Pabrai Funds owns?

 

Ticker Symbol is RYSAS. Down 10% today.

 

If the situation in Turkey continues and Pabrai doesn´t sell, I will start a position.

 

My strategy is to clone Pabrai here because there are no annual reports or financial statements in English, is all in Turkish Language

 

This was $0.75 in 2016, $0.65 in May 2019, $12.75 in Jan 2020, and $6.75 today.  Is this a cryptocurrency?

[Spekulatius]

 

Anyone looking at this market?

 

Does anyone know the name of the warehouse business in Turkey that Pabrai Funds owns?

 

Ticker Symbol is RYSAS. Down 10% today.

 

If the situation in Turkey continues and Pabrai doesn´t sell, I will start a position.

 

My strategy is to clone Pabrai here because there are no annual reports or financial statements in English, is all in Turkish Language

 

This was $0.75 in 2016, $0.65 in May 2019, $12.75 in Jan 2020, and $6.75 today.  Is this a cryptocurrency?

 

I guess you are supposed to scream "Allahu Akbar" when you push the buy button for this security.

[ValueArb]

 

Anyone looking at this market?

 

Does anyone know the name of the warehouse business in Turkey that Pabrai Funds owns?

 

Ticker Symbol is RYSAS. Down 10% today.

 

If the situation in Turkey continues and Pabrai doesn´t sell, I will start a position.

 

My strategy is to clone Pabrai here because there are no annual reports or financial statements in English, is all in Turkish Language

 

Is this the one that shipped painted rocks instead of copper to Asia last month?

[Spekulatius]

 

Anyone looking at this market?

 

Does anyone know the name of the warehouse business in Turkey that Pabrai Funds owns?

 

Ticker Symbol is RYSAS. Down 10% today.

 

If the situation in Turkey continues and Pabrai doesn´t sell, I will start a position.

 

My strategy is to clone Pabrai here because there are no annual reports or financial statements in English, is all in Turkish Language

 

Is this the one that shipped painted rocks instead of copper to Asia last month?

 

Down another 6% in Turkey today. In addition to the inherent volatility, you also have currency swings - the Turkish Lira alone has swung by almost 20% back and forth in a just a few month.

 

Too bad the WSB crowd can’t trade this , I imagine it would be fun