We love Apple as a company and as an innovator…and also as an EM powerhouse. Say what you want about Apples ASP price point being too high, but it’s still a global aspirational brand that developing nation consumers want to own.
10 days ago we advised rotating out of MBT into YNDX in Russia. The rally in MBT was adding and we saw underperformance in YNDX.
Recapping a couple macro themes from today that are part of larger macro views we have.
We have made our view on Volatility very clear for months: We said you wanted to trade it and own it when it got cheap because we were entering an extended period of heightened volatility.
Happy New Year to all our Emerging Money Friends!
Emerging Money Daily Audio Preview Call August 7 we are seeing emerging markets pull back on the spread against the developed markets to an interesting level here some support talked about we’ll tell you how to trade it.
Emerging Money Daily Audio Call Preview July 10 – as we settlement into mid-day in the U.S. investors have come to realize two; the events in Portugal Espirito Santo are largely one off and largely the result of an institution with significant cross holdings but the positioning is what this is about.
Emerging Money Daily Audio Call Preview July 7 – Weaker macro this morning but macro this week very front center including Chinese trade data and inflation data. We will be watching these closely.
Emerging Money Audio Call Preview June 5th – ECB, Draghi delivering impact for emerging markets (EEM, quote) for sure, the stress that was created by EU Banks pulling money out of emerging markets and lending something that I think this is some relief as a bleed through on this morning’s news and ultimately putting central-bank stimulus back into the mix.