Friday, September 16, 2011

"Mongolia: the world’s hottest stockmarket"

We've been on the Mongolia beat for a while now.*
Here's the headline story from MoneyWeek:

Until recently, few investors paid any attention to Mongolia. But that’s starting to change. Mongolia is the size of western Europe and is thought to have the world’s second-biggest copper and uranium reserves, while 80% of the country is still unsurveyed, as Dexter Roberts points out in Bloomberg Businessweek.
Its neighbour is China, the world’s biggest commodities consumer. As more and more mining projects are set up, the small economy is rocketing. GDP rose by 9.7% year-on-year in the first quarter. The International Monetary Fund reckons per-capita income could rise fourfold in ten years.

This helps explain why the local stockmarket was the world’s best performer last year, gaining over 170%, while the currency, the tugrik, appreciated by 13% against the dollar....MORE
* From  2009's "With a Name Like Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co., it has to be good ( 600111:Shanghai)":
In December 2007 I wrote:

How the heck did I miss Mongolia Energy Co. Ltd.?...
The question has haunted me to this day.
[you really need to get out more -ed]

MEco was the number two stock in the Bloomberg Worldwide Index that year, up 5911.17%.
I vowed that I "will study and learn, and one day my chance will come."
[ummm, wasn't that Lincoln?]
Here's the extent of my knowledge of Mongolia's fashion scene: 

Best hairdo, Hun style

Punks, rocks, skin heads... over last decades the world has seen all possible shapes and forms of human haircut. What was in fashion among steppe nomads some 2,000 years ago?
Prof. Bayar's research sheds light into the best hairdos of the past...

Nomadic chic hairdo
Reconstructed by M.Chimeddorj 
See also:
YES!!! "Van Eck Plans Mongolia Equities ETF"
Khan Resources jumps 20% despite Mongolian riots
"Mining hordes invade Mongolia, the 'Kuwait of Central Asia'" and "Hong Kong a good market for Mongolian IPOs"