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.
Friday’s best web profiles Rosneft CEO Igor Sechin and HDFC CEO Aditya Puri, looks at China’s investment in Bosnia, and analyzes exotic Chinese financial products.
With the banking sectors in two of the four BRIC markets — Brazil and China, facing short and long-term systemic challenges, Indian lenders have held up better than their counterparts, only to falter in the last few weeks.
U.S. investors often stereotype the Indian economy as a cluster of gigantic technology outsourcing companies. But those who bought into the ETFs that most closely conform to that stereotype would have been left lagging not only the real Indian stock market but Wall Street as well.
A note of caution for traders who have tried to get exposure to emerging markets via the BRIC countries of Brazil, India, Russia and China. Indian ETFs have run up ahead of their earnings and look like less of a bargain relative to their counterparts.