WSJ: “Growing Consensus” among investors regarding opportunities for pushing into Iranian markets

The Wall Street Journal yesterday conveyed assessments from top financial experts describing Iran as “Turkey with oil” and outlining “a growing consensus that the withdrawal of sanctions on [Iran]… would be a huge boon for the country, the region and for investors who get in early.”

“Tehran feels like Ankara did in 2004,” Mr. Robertson, Rennaisance’s global chief economist, wrote in a report on his recent trip. “Iran has a broad manufacturing base – which produced 50% more cars than Turkey in 2011 – but unlike Turkey, it has 9% of the world’s oil reserves and a large current-account surplus.”

Robertson said in his report. Under Mr. Rouhani’s guidance, Iran is making monetary and budgetary adjustments emerging-market investors tend to like, which have tamed inflation and – perhaps more importantly – stabilized the country’s free-falling currency. “This looks to us like a potential re-rating play that could – in an investable scenario – attract those investors who have recently invested in Saudi Arabia, like those who invested in Turkey after 2001 and Russia since the 1990s,” Mr. Robertson wrote.

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