Iran’s economy is bleak. But its stock market is soaring

The Business Times | Feb 15, 2020 at 12:00 AM
  • HE LOOKED past Iran’s cratering economy, ignored the unravelling nuclear deal and tuned out the bellicose threats of war from President Donald Trump.
  • Mr Wojtal, who runs an investment fund devoted to Iranian stocks, identified a company poised to benefit: Gorji Biscuit was well positioned to raise prices, given that foreign competitors were forced to steer clear of Iran because of US sanctions that restricted commerce with the country.
  • Born and raised in Poland, Mr Wojtal, 36, oversees the only foreign fund that is focused on buying stocks that trade on two exchanges in Teheran, a seemingly forbidding realm of finance – a marketplace overseen by an Iranian government under siege by sanctions.