Cotacachi Morning

by | Nov 9, 2008 | Archives

Our Cotacachi Ecuador economic tour continues this morning.

We start the day walking instead of talking…enjoying a hike in the fresh morning air. This is the wet season which means perfect, cool, sunny mornings with afternoon clouds and perhaps later rain.

This confuses many readers. If one looks at the Ecuador weather reports for Quito, Cotacachi and surrounds it seems to rain almost every day. This is true, it rains a bit many days. Thank goodness. Most days it is so sunny and clear and the sun so intense that without those clouds one would really burn. Learn more about this at Ecuador Weather.

I rise about 4:30, try to answer my email etc. before dawn,. Then Merri and I hit the street around 6am. This morning we were in a perfect position to watch the sun rise behind Mt. imbabrura.


This seemed appropriate because the course we are conducting is looking at how many opportunities are rising now.

On our way back we passed the local Cotacachi food store, a two story affair with a great mural from the Guayasamín school. This morning it was perfectly framed by Mt. Cotacachi in the background.


The 50+ delegates enjoyed breakfast in the hotel.


Cotacachi loves art and there are murals everywhere in village, including in our dining room. Our mural depicts all the famous buildings in the village.

At 9 am we began speaking again. Delegates are getting seated and ready to go.


Here is Peter Laub from Jyske Global Asset Management talking about the current economic downturn.


One current condition that Peter and I reviewed was the current downturn in bonds around the world.

Some time back we reviewed at this site bonds issued by Bank TuranAlem (BTAS) the second-largest bank in Kazakhstan bank, formed in 1997 as a merger between two government-owned banks. This is a full-service bank with representative offices in Kazakhstan, Russia, Ukraine, China, Belarus, Kyrgyzstan, Georgia, Tajikistan and Armenia. The bank’s bonds are rated by Moody’s Ba1 and S&P: BB and it has government backing.

This bank has been offering many bonds in dollars and euro. Now while the bond market is in panic mode the yields are phenomenal.

Their 6.25% 27/09/2011 bond denominated in euro is being sold at 74.22 which creates a yield of 18.14%…in euro.

The bank has bonds in pounds yielding 36.46% and US dollars at 45.25%

You can see some of the bonds and their yields below.

GBP 7.125 21/12/2009 TURANALEM FIN BV 75.00 36.46%

USD 5.434 22/01/2009 TURANALEM FIN BV 92.75 45.25%

USD 7.875 02/06/2010 TURANALEM FIN BV 71.00 33.19%

USD 8.000 24/03/2014 TURANALEM FIN BV 50.49 25.37%

USD 8.5 10/02/2015 TURANALEM FIN BV 52.00 23.52%

Yields like this create an argumet for speculating in such bonds now.

See more about Bank TuranAlem at Multi Currency Investment Secrets.

There are plenty of other dollar, euro and pound bonds with exceptional yields now.
EUR 5.75 12/01/2009 FORD MOTOR CRED 92.52 53.63%

EUR 5.875 08/07/2013 HUTCH WHAM FIN 89.96 8.53%

EUR 8.465 15/05/2013 EUROPCAR GROUPE 43.00 34.10%

EUR 8.25 01/05/2016 NORDIC TEL CO HL 74.00 13.96%

We gave an in depth review of these bonds at the course.

Tomorrow learn about our coffee breaks and quinoa jello!

Until then may your Sunday be as bright as ours.


Join us at a course in Cotacachi or on Ecuador’s coast this winter.

Jan. 16-21 Ecuador Spanish Course
Jan. 22-23 Imbabura Real Estate Tour
Jan. 24-27 Coastal Real Estate Tour

We’ll visit the Otavalo markets.


Feb. 13-15 International Business & Investing Made EZ
Feb. 16-17 Imbabura Real Estate Tour


Courses are centered around this open air courtyard in our colonial inn El Meson de las Flores.

March 8-9 Imbabura Real Estate Tour
March 10-15 Ecuador Export Expedition
March 16-19 Coastal Real Estate Tour

You are also invited to tag along to the beach where we visit all types of Ecuador beach property for sale. Here is one f our previous tours enjoying a visit to Vistazul condos.


Better still join us all year in Ecuador! See our entire schedule of 26 courses, tours, mingos and expeditions we’ll conduct in 2009.