“It was three years ago that Peter first made the case for Dubai. The economy then was ‘in tatters and investors’ dreams in shreds. Remember the cartoons of heavily indebted Arabs begging for money? It was not so far from the truth. Dubai real estate had fallen 60% from the peak, and the stock market was a disaster area.’ Those are, of course, the times to pay attention. It was during such time that Peter advised building positions in Dubai stocks for the inevitable recovery. This year, patience paid off. Dubai’s stock market is up 63% for the year. But it is still 75% off its high and a compelling bargain on the numbers.”

http://dailyreckoning.com/a-recovery-where-youd-least-expect-it/

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