Here is what I said a couple times on Friday into the hysteria of the markets and the talking heads saying Greece was about to blow:
Today’s headlines on the Brazil’s 3G buying Kraft gives us a reason to mention a stock we are long: Pinnacle Foods, ticker PF.
We have conducted a rebalance of the Emerging Money U.S. Multinational Index Starting March, 2015.
Last night McDonald’s announced a change at the top replacing CEO Don Thompson with Steve Easterbrook. This move while not unexpected was surprising in the timing, a mere three days after their earnings announcement.
It’s not easy to wake up today and buy anything. Looking at duration risk, credit risk, currency volume that is unnatural, and U.S. markets that have run for six years on the equity side.
Looking at the chart below we find the price for the emerging market ETF – EEM on its own outright and on the spread against the SPY ETF. The later we often refer to as the “EM/DM Spread”.
Emerging Money Daily Audio Call August 8 – On the call today we get into risk reduction Fridays we’ve had a few in a row now and what we would be doing in emerging markets after nice pullback and some technical support.
Last night, Tim was on CNBC Asia talking about China and reiterating that China is not a macro call as much as you are looking for bottom consumption plays.