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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.
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