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Biotech / Medical : Biotech Valuation
CRSP 57.66+0.5%11:36 AM EST
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To: Mike McFarland who wrote (21302)9/17/2006 3:08:33 PM
From: former_pgs   of 52153
 
OT: Perhaps your economy gains some legitimacy when you knock six zeros off the currency? :-)

To give some perspective, as a young child in Turkey (late 70s), my aunts and uncles would pass some money to me on occasion. They were coins called "kurus", which were actually fractions of a lira. I used to pile them up and head to the store and buy some gum.

In about 15 years, the denominations increased so quickly in magnitude that millions and billions was the typical talk, and people referred to thousands in the singular when asking for payment.

The biggest obstacle to Turkey's economy is still the development of a reliable and trustworthy regulatory framework. Until then, only the biggest and bravest of foreign companies will venture into Turkey, imo. Nokia got ripped off pretty good a couple of years ago by one of Turkey's cell phone providers.
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