Watching For Dips
Zimbabwe Equities Are Almost More Bitcoin Than Bitcoin
The political turmoil isn't a prelude to a buying opportunity.
This article is for subscribers only.
Look before you leap. Zimbabwe's political shake-up isn't exactly the first step on the road to investment.
A jump of 390 percent year-to-date in the benchmark Zimbabwe Industrial Index, which has a market capitalization of $14.5 billion and excludes mining companies, looks fabulous news for frontier funds invested in what used to be called Africa's bread-basket. It's held on to those gains even as the military seizes power. It might be tempting to watch for a dip as a buying opportunity.