Emerging Money: Egypt
Grab your passport we're going beyond the BRIC. Tim Seymour is spanning the globe in search of less prominent, more promising places to find you emerging money!
Next stop - Egypt!
You might know Eygpt as the home of pharaohs and pyramids but on Wall Street it’s as hot as the Sahara.
As the most populous nation in the Middle East, Egypt is finally thriving after long-needed economic reform and investment by neighboring oil-rich nations.
Egypt's economy is now growing at 7% annually and getting an extra boost from renewed interest in tourism. But that’s just the beginning.
The Egyptian people are improving their quality of life by building bridges, power plants, transportation and infrastructure. In fact, 9,000 new companies were created in the last year alone.
Subsequently, investors are looking to make fast money on the Cairo and Alexandria stock exchange-- aka '"the case." It's on fire, up more than 450% over the past four years. How can you get in on this emerging money?
If you want to play Egypt I recommend SPDR S&P Emerging Middle East & Africa , says Tim Seymour, or the T. Rowe Price Tramx Mutual Fund.
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Trader disclosure: On Feb.4, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (INTC), (DIS); Najarian Owns (AMR), (BIIB), (C), (CSCO), (YHOO), (XLF), (MCD); Najarian Owns (AAPL) Calls, (GOOG) Calls, (NYX) Calls, ; Najarian Owns (WM) Puts; Finerman Owns (GS), (RTP), (YHOO), (AEO), (WMT); Finerman's Firm And Finerman Own (CROX), (KALU); Finerman's Firm Owns (NMX) And (NMX) Options; Finerman's Firm Is Short (SPY), (IJR), (IYR), (IWM), (MDY), (CME), (COF); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Is Short (MHGC); Seymour Owns (CSCO), (GOOG), (INTC), (MSFT), (SBUX), (YHOO), (SHLD), (UN); Seygem Asset Management Owns (CTCM), (FMCN), (GAF), (GFI); Charles Schwab Is A Sponosr Of "Fast Money"