Turmoil in Turkey

Following a corruption scandal that saw a spate of high-profile arrests and sent investors heading for the exit, Turkey’s market went into a tailspin. Cris Sholto Heaton reports.

Was 2013 a good year for Turkey?

Not if you were an investor. Turkish stocks fell more than 28% in US dollar terms during the year, making Turkey the world's worst-performing major market. Much of the damage happened in the last month after a major corruption scandal that saw police detain a number of high-profile figures on allegations of bribery for real-estate projects.

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Cris Sholto Heaton

Cris Sholto Heaton is an investment analyst and writer who has been contributing to MoneyWeek since 2006 and was managing editor of the magazine between 2016 and 2018. He is especially interested in international investing, believing many investors still focus too much on their home markets and that it pays to take advantage of all the opportunities the world offers. He often writes about Asian equities, international income and global asset allocation.

Cris began his career in financial services consultancy at PwC and Lane Clark & Peacock, before an abrupt change of direction into oil, gas and energy at Petroleum Economist and Platts and subsequently into investment research and writing. In addition to his articles for MoneyWeek, he also works with a number of asset managers, consultancies and financial information providers.

He holds the Chartered Financial Analyst designation and the Investment Management Certificate, as well as degrees in finance and mathematics. He has also studied acting, film-making and photography, and strongly suspects that an awareness of what makes a compelling story is just as important for understanding markets as any amount of qualifications.