Iain Little's Fund Manager's Diary: Of Arabia, Geopolitics and Markets
published by Global Thematic Investors. My thanks to the author for this topical diary, posted in the Subscriber's Area, but here is an interesting sample, hosted without further comment
A client emailed us this letter written to the FT and asked us what we thought:
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Assad is against Muslim Brotherhood. Muslim Brotherhood and Obama are against General Sisi.
But Gulf states are pro Sisi! Which means they are against Muslim Brotherhood!
Iran is pro Hamas, but Hamas is backing Muslim Brotherhood!
Obama is backing Muslim Brotherhood, yet Hamas is against the US!
Gulf states are pro US. But Turkey is with Gulf states against Assad; yet Turkey is pro Muslim Brotherhood against General Sisi. And General Sisi is being backed by the Gulf states!
Welcome to the Middle East and have a nice day.
K N Al-Sabah, London EC4, UK
Bruce replied to our client from our research office in Abu Dhabi:
How true about the Middle East. And we could add Obama is in favour of democracy, but also probably prefers the Generals in Egypt to the Muslim Brotherhood so he favours a military takeover of a democratically elected government.
This week the Head of the UAE Military who is also the Crown Prince and effectively runs the country was warmly greeted in Egypt by the Generals. The Gulf States told Egypt not to worry about the US withdrawing any financial support as the Gulf States will make it up. Qatar is a bit upset since its earlier financial aid to Egypt was very poorly received (ie stolen) by the Brotherhood.
The UAE has in jail over 60 convicted members of the Brotherhood who wanted to overthrow the country. But this week the UK Guardian attacked the UAE for holding these people without in their opinion a fair trial.
Elsewhere Putin wants to talk to Obama not as Obama as head of the USA or Obama as a friend but rather Obama as the recipient of the Nobel Peace Prize. Putin says how can a Peace Price holder attack another country like Syria while refusing to show the world the proof that Assad used chemical weapons. So now we have Putin the moralist against Obama the War monger. In Congress the Democrats are supporting Obama's suggested attack upon Syria while still condemning Bush's action in Iraq and Afghanistan. Gung ho Republicans are not so sure. And in the UK, Germany etc etc.
P.S. The author of the letter to the editor is an Al Sabah the name of the Royal Family in Kuwait
May we live in interesting times.