Turkey's central bank more than doubled interest rates January 29 in an effort to support the nation's currency,the lira.When you see the Turkish rate hike,you're gonna see their economy in decline,predicted CNBC market analyst Jim Cramer on the "Squawk On The Street" program.I think we could see a 2-6% downside based on the emerging markets.This is the way it is,and you just have to ride it through.It doesn't work.You end up with hyperinflation.When you're going down,it's a source of panic and worry.
We have to go through the handwringing.It's like an HBO drama.I wish I hadn't seen it happen over and over before.You're gonna see people come in and say Turkey is terrible,and they will sell.Twenty-two years ago we went through this cycle in Turkey.We weren't as connected as we are now.We didn't have shows like this to talk about Turkey.
This could be a 2-6% decline in the S&P.It's the arc of freaking out.*
Tech titan Yahoo reported a drop in revenue for the fourth consecutive quarter,with a drop in display ad prices.As well,Yahoo was affected when Alibaba growth slowed.
These are tech companies,not content companies.CEO Marissa Meyer's up against really big,great companies like Google and Facebook-two of the great arsenals of democracy.You can't go up against Facebook and Google without spending a fortune, master investor Jim Cramer pointed out.
On the plus side,Yahoo received 340,000 applications for employment,and 40% of its hires were engineers.There was big growth in its Tumblr site.There were also signs of improving display ad revenues,and Yahoo did beat its earnings estimate,while matching its revenue estimate.*
Jim Cramer's new book,"Get Rich Carefully,"is on sale now.*
Yahoo(YHOO),Google(GOOG),Facebook(FB)
No comments:
Post a Comment