This is the funniest story I’ve read in 2016. I could see it now, the average savage going about his day in the stock market and an elusive Gekko type character steps into the fray to completely fuck all participants. Apparently, this “dude” is so big, he bends the market to his will. Participants are going apeshit trying to find him, but cannot.
“Nobody knows anything for sure,” Ozaner said in his office in a picturesque neighborhood on the shores of the Bosporus. “And this is Turkey, where usually we all know what’s going on.”
“Herif,” or “the dude,” has helped lift the average daily trading volume on the Borsa Istanbul almost 8 percent this year, compared with a 15 percent decline on the main exchange in Warsaw and a 27 percent plunge in Moscow, data compiled by Bloomberg show. The Borsa Istanbul 100 Index has advanced 13 percent in the period, outpacing Russia’s Micex and Poland’s WIG20.
Closely held Yatirim Finansman, which handled less than 2 percent of all trades two years ago, now accounts for the majority on some days.
On Feb. 22, for example, the brokerage placed buy orders for 486 million liras ($167 million) of shares, about 15 times more than Merrill Lynch, the second-biggest dealer that day, according to official data. And in the 16 trading days to March 8, it registered almost 1 billion liras of buy orders for Turkey’s six largest banks and Turkish Airlines — helping push the Borsa index to consecutive three-month highs.
In all of January and February, Yatirim Finansman bought a net 1.23 billion liras of stock, almost 70 percent more than the next largest buyer, UBS Menkul Degerler AS. This is why Istanbul Portfolio’s Ozaner said the secretive buyer is now “making the market.”
“There’s a giant bull in the china shop,” said Kerem Baykal, a fund manager who oversees about $610 million at Ak Portfoy. “He’s got deeper pockets than anyone else in the game and can move the market in any direction.”
“The Dude” is straight up fucking with Turkey, a menace of the first magnitude. I hope he fucking destroys the exchange and makes it crumble into pieces.
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I’ve heard of a Turkish bazaar. But this guy s a Turkish bizarre. Here’s a bazaar.
BTW, everyone I’ve met who’s traveled to Turkey loved it there.
https://www.youtube.com/watch?v=BEB0h5gBfFs
It isn’t me
I guess the thing with Trump is that people are so starved for someone to say “I’m on your side, Bro” that they really want to believe it. But they can’t believe it if a Democrat says it because Fox News & Clear Channel have brainwashed them into thinking that liberals are Lucifer himself and that Jesus was a Republican. They have no idea how big the Christian Left is– because it’s humble and polite, rather than loud and angry.
It’s a funny thing. Morally Christians land on the conservative side and socially we land on the liberal side. Ironically, Trump seems to have better balance between these two issues than anyone else running.
Wow. You live on a different planet than I do, in what you see there.
That’s probably true. I do think it is true though that Christians never fit comfortable into either the right or the left these days. We have conflicts on both sides.
(rolls eyes)
There is only one with that kind of bank roll and balls – Putin.
It’s not me.
ROFL….I just read the same article on Bloomberg maybe less then a minute ago. No big rally out of China over that Reuters article. That article was so strange today, why would they want to leak info over a possible bail out of the China Banks.
Market blasting up after hours, how long can this BULL run on “weak breadth”?. Perhaps the Turkish “dude” is buying up S&P fut’s.
Would have to get rid of some of those Devil Dogs, if the market is to go down. How can it go down if everyone is already short? If everyone is short, traders either do nothing or get scared and cover. There is no one left to short the market to lower levels. And bulls don’t want to sell if the market is still rising.
What shorts? IMO, options liquidity is for shit at the moment and that goes hand in hand with a lop-sided market. When the stampede to the exit goes down, bids will vanish.
Time will tell.
It’s Gartman. He’s a whale according to his sofa.