"Gains in Turkey? Don't sell yet
By Barbara Wall International Herald Tribune
MONDAY, SEPTEMBER 12, 2005
Turkish equities have rallied strongly as the country approaches EU accession talks, which are scheduled to start on Oct. 3. Investors might be tempted to take profits at this stage, but would that be wise?
This is not a question that Eli Koen, manager of Fortis Equity Turkey fund, has lost much sleep over. "Many short-term traders will have sold their positions, but it is not a strategy I would recommend," he said. "Turkey is an extremely difficult market to time. If you buy Turkey, you buy it for the medium term." Roughly translated, that means a minimum of three years."
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