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Compass yeah that's -- well you know we're always trying to make money for it Fox Business I was looking for new ways to do it.
You -- America's word about getting troops out of Iraq our -- get these investment opportunities there and he is David Grayson managing director of are about Grayson and thanks so much her for coming on the silently virtually all -- couple days ago that we've come on the show.
You're investing in fact that you're talking institutional money and going and going into the into the Baghdad market.
How risky is this.
Well first of all you have to understand where an institutional only broker we operate in.
Iraq makes a 128 markets around the world so we're in Switzerland where in France where in Vietnam and we happen to be in Iraq.
We specialize in bringing foreign investments to US institutions.
The US institutions that we deal with they make their own.
Decisions they make their own analysis of of of risk and.
They want that's did you get a lot of calls from your clients well well we're we're we're kind of neutral in terms of determining.
What market we're going to go win.
We have as a as a business proposition decided that we want to be in every country in the world.
We have a capital market system.
Iraq has had a a stock exchange since 1992.
When when the sanctions were put in place against the government and against Iraq by the United States and Sodom had to find a way to raise money.
It's only been a year or just about a year that the market has reopened now under the -- stock exchange name mean they now have an electronic trading system.
And they -- -- they are in the process of making it fully electronic what's the hot action in Iraq and Iraqi market now.
Well first of all just to finish the thought it's only been less than a year that foreign investors could go win.
So so up until now it's been mostly gulf investors.
Now yes we are starting to get some of our clients -- indicated a desire to go into the market -- the hot action as well this set the sectors believe it or not our our our banking the largest company that trades there is is a bank that's controlled by HSBC.
The hotel industry is very active because there's a limited number of hotels right now.
And there's a lot of believe it or not there's a lot of rebuilding a lot of people who require hotel rooms.
Insurance beverage stocks.
Those those are all of interest to foreign hands how many stocks are listed on Medicare -- -- 92 stocks Jim but I like like like many other markets this is a market with a three billion dollar market cap.
The trades a million dollars a day.
It's only a handful that are that are really liquid have you gotten an a good amount of interest sensitive and we -- a first international firms into Davis.
Well again and again we we cover we cover the world I mean we were the first international firm to.
Get involved in Russia in the very early.
Any -- -- It's shorting any short sell stock Iraqis saints I don't believe so so I got -- right now.
I think -- they might they may not know that -- yet.
Well how about -- your firm -- not just doing yes Baghdad story in your global mean you've got you're looking at a lot of you call them front and markets and they've got a map to kind of show.
-- you're saying that Nigeria is a market you're looking at.
Powell -- Sri Lanka Paulson on the map because that's.
Isn't that amount but but these of that in Vietnam I mean -- really going in front market this thing was well well they again are.
Our goal is to cover -- every country in the world with a capital market system so we do business in.
Western Europe and Central Europe and yes we do business in emerging markets in frontier markets.
Vietnam we've been active here almost since the market opened it's a very difficult market to.
Navigate around because you have to get a license from the government to invest.
That's for a blank is a great story.
This week in fact we have a road show going on John -- and company it's the largest conglomerate billion dollar company market cap.
Trading in Sri Lanka.
Taking them around the United States on -- on -- road show.
Three or four billion dollar market cap tiny tiny market no one really looks at it.
Yet now with civil war ended after all these years all of the stocks have have which has had been.
Up nicely and just just ended but just think about the read -- -- the rebuilding.
Tourism is gonna pick up again we were talking about the government's -- -- lifting travel warnings to throw a blanket.
So that's an interesting one Palestine -- Yeah the market the market the market -- opened in 1995.
The guy who opened it was a Harvard graduate it trades in US dollars jeering the Israeli incursion into Palestine.
The market and -- opened every single day for trading never missed a beat.
And and right after the that the largest company that trades there is is the Palestine telephone telephone company the kuwaitis came -- into a big stake in it what what's the market cap and Palestine if it's about it's about it's about three billion going to think it's Iraq it's as big -- Iraq -- country of thirty billion and Palestine is what 45.
Julia and if that night and and as as as Jim knows.
They just open a market in Syria.
Off limits to Americans right now because the sanctions but we believe that eventually.
Particularly probably during this administration that Syria that the sanctions will be lifted and you'll be -- -- able to invest in Syria and by the way Iran.
Market cap to -- stock exchange 5060 billion dollars they -- they went off limits on what Iran opened up well I think I think the key there is is political right now off off limits to US investors but look.
-- it just opened up right.
Who would think that the United States would be carrying on diplomatic relationships with Libya the markets opened and we're getting ready to do business -- -- Are headed -- prize is any surprises in terms of the countries that are really embracing a capitalist structure -- -- such as the stock market.
Well it's Syria imprisoned surprise when I tell people that there's an active market in Palestine.
They don't believe me.
All at NATO and -- -- and there is no hand in front there is demand there is again again it's almost another class there is there is you know it's not your traditional mutual fund but it might be.
Hedge funds and within hedge funds there there are ones who go on to develop markets and there are ones who go into emerging markets than -- ones who.
Are looking for the next frontier when there's so many things we could talk about -- pregnant and grace and the fascinating thank you for coming in and appreciate that -- -- well thanks nice to finally made it.
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