Stock and Awe in Baghdad
Lance on Oct 10 2008 at 10:09 am | Filed under: Economics, Foreign affairs, Investing, Lance's Page
The Markets have spoken, the best place to invest in the world is…Iraq!
Sphere: Related ContentNow it’s stock and awe in Baghdad!
As the Dow plummeted nearly 700 points yesterday to fall well below the 9,000 mark, the Iraqi stock exchange - where this broker was merrily keeping up with her booming business - was flourishing, buoyed by four-year lows in violence and hopes of a reconstruction windfall.
Last month, Iraq’s general index went up nearly 40 percent, about the same percentage the Dow dropped over the past year. The jovial trading-floor mood is reminiscent of Wall Street’s bygone ‘greed is good’ era of the 1980s.
Hmmm how do I get me a piece of that action?
Heh, I would tread warily, very warily.