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Rating:Mobius' Dire Prediction Draws Turkish Ire Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, November 02, 2010

Mobius' Dire Prediction Draws Turkish Ire

News summary by MFWire's editors

Mark Mobius may be in hot water in Turkey. Dow Jones' Joe Parkinson reports that SPK (the capital-markets regulator in Turkey) is investigating the Templeton Asset Management [see profile] after he said a week ago in a TV interview that he thought Turkey's stock would drop by "15 percent to 20 percent" by the end of 2010.

Lawyers told the wire service that Mobius would only face penalties if SPK can prove that the prediction was a lie and that Mobius would make money off of such a drop. The Istanbul stock exchange fell 3.1 percent the day after Mobius' remarks. 

Edited by: Neil Anderson, Managing Editor


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