Atakan

Rating Agencies Unfairly Give Turkey Short Shrift

Well-said Suna. The ratings agencies seem to be enjoying some sort of a "reserve currency" type of privilege perhaps b/c of the lack of a competing model/approach. From a strict resource allocation perspective it is somewhat understandable why a country making up 0.17% of the world equity market is not getting red carpet treatment. As the Turkish market matures and the major Turkish corporations float more than what on average amounts to a laughable % of ownership to the public this balance of opinion should shift favorably. Until then, for the believers there is a mid-term market inefficiency here.