Mohnish Pabrai's Talk with UNC Kenan-Flagler School's Investment Management Club on Dec 5, 2022
Chai with Pabrai
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Is the Stock Market a Mechanism to Transfer Wealth in Turkey?
Inflation generally is bad news for equity investors, but there's a small sliver of businesses in Turkey which benefit from inflation or at least a neutral on it. The Turkish market is interesting because 80% of the entire market cap of Turkey is either held by insiders or foreign institutional investors. In euro or dollar terms, every 10% decline in the Leera increases these companies' profits by three or 4%.
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