One of the most important countries because of its location between Russia and the Middle East is Turkey. The country has a long history and for generations controlled much of Middle Asia in the Ottoman Empire and people throughout the empire were known as Turks. Most people including me know a little about the region and a book such as Sons of the Conquerors – The Rise of the Turkic World by Hugh Pope published by Overlook Duckworth, NY, 2005 helps.

To understand the country of Turkey, even though the capital of Ankara is an old city, the dominant buildings belong to the military. In Turkey all males must join the army for a few years, then they are allowed to marry and begin what is a normal life. The military besides being one of the biggest employers of people; its people pay rock bottom prices to their bases, hotels and holiday camps; the military retirement fund controls one of the biggest holding companies in Turkey; the military budget is at least 10% of the budget (perhaps higher)  of the country and for the most part the elected politicians have little say in it. It is not surprising Generals run the country.

The books discusses other countries within the Turkic World and they have their strengths and some have oil and gas.

Linking to dividend paying stocks, every company has some underlying premise or strength which helps you understand the company and its directions. In the example of Turkey understand the long history of the military means you will begin to understand how it generally reacts to events. Consider what is the underlying strength of the companies you own? Does it still use that asset?

There are more questions than answers, till the next time – to raising questions.