Author Topic: Investing in Turkey - Garanti?  (Read 17108 times)

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Offline KKOB

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Re: Investing in Turkey - Garanti?
« Reply #20 on: September 10, 2015, 10:44:15 AM »



Offline Yoshi

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Re: Investing in Turkey - Garanti?
« Reply #21 on: September 10, 2015, 11:29:34 AM »
So I probably worded that wrong !
Of course I have been following with interest the changes to the Lira and Turkey politically but it's all so uncertain.
I guess what I was asking is what peoples views are on the potential changes that could happen with the election in November to enable me to understand it better.

Offline kevin3

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Re: Investing in Turkey - Garanti?
« Reply #22 on: September 10, 2015, 17:04:18 PM »
Yoshi,  I, along with a lot of other members don't fully understand the Turkish financial, legal, religious and cultural systems.

I think you need to digest as much information as you can get from the internet, media, Turks and ex pats, think things through

then follow your gut feeling.  My view for what it's worth is that the cause of all the troubles will be on the scene for the next

couple of years and Turkey seems evenly divided for and against that cause so things will remain the same or get worse until the

cause has gone. If I had a large sum of money to invest I think I would find somewhere far more settled than Turkey to invest it.

But there again what do I know. Good luck with your decision.    :)

Offline villain

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Re: Investing in Turkey - Garanti?
« Reply #23 on: September 12, 2015, 22:22:49 PM »
Being somewhat biased on this subject (I admit to being an IFA), can I suggest you seek some financial advice - preferably independent?

For a start, if you believe that you are receiving 3% interest on your Santander savings of £60000, surely this is more than £38.00 (is that a month/year or what?)

By switching your savings abroad, you will take on exposure to currency risk and if you have an extremely cautious attitude to investment risk by nature (as I suspect) your savings  will now carry a very significant additional risk.

Please think very carefully about this.

It is now very simple to transfer small and large sums abroad very efficiently at pretty much "spot rates", using PCs and smartphones/tablets. Why take the plunge to earn 10% interest on a currency that could lose 20% of its value each year for potentially a few years?

From a personal (not professional) point of view, I think the Turkish political scene has taken a marked turn for the worse. It pains me to say it, but bargepoles come to mind.

Offline Scunner

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Re: Investing in Turkey - Garanti?
« Reply #24 on: September 12, 2015, 23:39:17 PM »
£100,000 "invested" in 2005 at 2.25TL/£ bought you 225,000TL

That 225,000TL today, 10 years on, if you needed to get your pounds back would give you £47,823

You'd need some serious interest to counterbalance a loss of over 52 grand.

Welcome to Turkey.

Offline Yoshi

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Re: Investing in Turkey - Garanti?
« Reply #25 on: September 13, 2015, 00:27:20 AM »
Thank you Kevin3
I appreciate your advise and your time to answer
Have a good weekend

Offline Scunner

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Investing in Turkey - Garanti?
« Reply #26 on: September 13, 2015, 02:11:27 AM »
Do you only reply to the posts that manage to avoid telling you that you maybe haven't a clue?

From your choice of villa to buy, to throwing your savings down the drain, you have an amazing blindness to the posts from anyone who tells you that your idea or argument is fundamentally flawed.

You can lead a horse to water but you can't make it drink apparently. Here we see that there are certain horses you can't even lead to water.

But I do wish you luck, mainly because that may be all you have on your side.
« Last Edit: September 13, 2015, 11:47:29 AM by Scunner »

Offline LeeGlo

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Re: Investing in Turkey - Garanti?
« Reply #27 on: September 13, 2015, 09:13:57 AM »
Listen to the people on here is the best advice. Turkey is NOT a good place to invest right now. I speak from expensive experience with the exchange rates, as do lots of other folks. Volatile political and economic situation which doesn't look like improving anytime soon.

Offline Scunner

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Re: Investing in Turkey - Garanti?
« Reply #28 on: September 13, 2015, 12:26:04 PM »
Correct LeeGlo - many members here have learned that to their cost but still people come along who know better.

One of the great frustrations of CBF (and forums in general) is that it doesn't matter how much previous experience people have available to draw on (13,000 members here for example) - there are always those who don't post questions to get answers, they post questions to find people who agree with them.

Investing in a currency on the slide significantly that in relatively recent times slid on through to 2,500,000 to the £ (before a cosmetic makeover removed the zeros). There is no reason why it can't end up there again if things turn nasty.

For those who are interested in non-supporting replies, I think that would make my example £100,000 worth 11p. Those who choose to ignore just bury your head in the sand (or should I say continue to) that is your choice and only you can decide - but once it hits 5, 10 isn't far away, then 150/£ then 5,000/£, 100,000/£ then 2,500,000/£ - hyperinflation is a steep slope that gets much steeper more quickly as time moves on.

But then again, what do I and several thousand other people who have been there and done it have to offer people with a lump of money who post all the findings they have discovered about lovely interest rates.

Offline gillian handbury

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Re: Investing in Turkey - Garanti?
« Reply #29 on: September 13, 2015, 14:50:51 PM »
4.59 in change shop in Fethiye.....just now




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