Tim Seymour Talks Investing In Turkey
For a play in emerging markets, trader Tim Seymour on Thursday suggested looking at Turkey.
“Forgetting the fact that Turkey, I think, is one of the most important geopolitical countries because it sits on the path between Europe and the Middle East and is one of the few places that the Western — dare we call them — allies can feel comfortable, it’s affected by the European contagion,” he said on “Fast Money.” “What you have to know is that the industrial production story in Turkey is alive and well.”
Seymour, founder of EmergingMoney.com, recently returned from an investment-finding trip abroad.
One way to gain exposure to Turkish banks, automaker Fiat and other industrial sectors is the iShares MSCI Turkey Index Fund.
“There’s a number of fantastic dividend plays in Turkey,” he said. “If you can buy local markets, you’re getting 8 to 12 percent div yields.”
One potential headwind was the high price of oil, Seymour said, because Turkey has “almost zero” domestic energy production.
“Take a look at the valuations here, but again, you’re going to see this market suffer under the weight of higher oil,” he said.
Brian Kelly of Shelter Harbor Capital said he, too, was looking outside the United States and bought the iShares MSCI Brazil Index Fund.
“I was looking for areas where, one, you have GDP growth,” he said. “Two, you have a central bank that is still very stimulative, and we saw today that the Brazilian central bank came in to stem the rise of the real. They’re even talking about perhaps cutting interest rates, even though you may have inflation. They’re choosing growth over inflation.”
Got something to to say? Email us at email@example.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our website, email firstname.lastname@example.org.
Trader disclosure: On March 1, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Adami is long ( C); Adami is long (GS); Adami is long (INTC); Adami is long (AGU); Adami is long (MSFT); Adami is long (NUE); Adami is long (BTU); Kelly is long (XLF); Kelly is long (KRE); Kelly is long (SPY) Puts; Kelly is short Japanese yen
For Jeff Weiss
For Jeff Klinefelter
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: AEO, ANF, ARO, BODY, CROX, CTRN, DECK, GCO, GES, GIII, GMAN, GPS, HOTT, KORS, KSS, PSUN, ROST, RUE, SKUL, TGT, WTSLA, ZUMZ
Piper Jaffray or its affiliates beneficially own 1% or more of any class of common equities of the following companies: JCP
For Jim Iuorio
Iuorio is long (SPY) calls
For Jing Ulrich
For Rich Greenfield