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Recall walking through the ubiquitous chain drug store near you to see the cologne shelves where the knock-off brands advertised “If you like Paco Rabanne, you’ll love ‘Paul Raven’ cologne.” Basically it smells the same but is a lot cheaper.
Three weeks ago we published an analysis of the best performing stock markets utilizing data from the Financial Times Global Equities Macromap. The five best performing equity markets for the previous twelve months were emerging markets.
Utilizing the Financial Times Global Equity Macromap, the five best performing equity markets for the twelve month period ending 12/03/2012 were emerging markets.
Brazil, Russia, India and China – collectively the BRIC countries – have under-performed the United States for the past couple of years. An interesting reversal of globalization appears to be developing and it will prove to be quite interesting to witness these four nations as they face a new challenge: how to become a more self-sustaining economy.
While the U.S. was gorging on turkey, China printed the highest HSBC Flash PMI in 13 months and looks to be ending a 7 quarter contraction in manufacturing that has been overly detailed by market players and media.
Indian telecom companies may have bottomed out after India’s botched spectrum auction, and with smartphone sales in emerging markets set to jump next year, and India (EPI, quote) touted as the top BRIC market for 2013, investors with a long term horizon may want to start doing their due diligence now.
