The following article gives a comprehensive look at what’s been happening in the equity markets recently.
Emerging Market Stocks Erase 2008 Loss After Commodities Rally By Lynn Thomasson and Michael PattersonPetrobras now worth more than Microsoft?? Undoubtedly, a Brazilian energy company is right at the epicenter of every market trend – fad? - right now – energy, emerging market, improved corporate governance and political stability. Time will tell if this rapid transfer in wealth to the markets of the developing world was a symptom of a mania or just the logical result of globalization and representative of the dramatic reshaping of the investment landscape. I’ll hedge my bets and say it’s some of both!
Incidentally, another citation in the article does – unintentionally - point out how anachronistic the “emerging markets” label has become. Korea is still “emerging”?? And Israel, too???
Posted May 20, 2008 by Nathan Gendelman
