The Turkey currency crisis, Tesla’s $360 conversion price, severe weather patterns, Amazon’s Whole Foods play

1 Big Thing: The Turkish lira is in a crisis
I think the Turkish lira is now extremely undervalued. It has dropped as much as 20% this week amid concerns that the country won't be able to pay its foreign-currency debt obligations. Today alone, the lira was down as much as 12%. Total losses for the year are over 30% against the US dollar. Now, the lira is trading well below fair value

Why this matters: this is how crises happen. Fair value is meaningless because we are faced with a case of refle...


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