Fund managers, analysts and traders often talk about the importance of being selective in stock picking. While the emergence of the risk-off/risk-on trade in recent years has perhaps lessened the appeal of this somewhat, in many markets an investor’s choice of sector or company continues to mean vastly differing returns. Since the global financial crisis,… [Read more]
China’s decision to tighten monetary policy on January 12 and weak corporate earnings reports out of the US have put a damper on bullish equity sentiment in Europe. That said, I still think upside momentum can carry further on a tactical basis. Two markets I particularly like are the Russian RTS and Polish WIG20. With… [Read more]
Amid the surge in commodity prices and the collapse in the dollar, one market which caught my attention today was the Russian RTS equity index. Watching the RTS range trade for the past month, the technical break I’ve been waiting for appears to have finally come and the bulls seem to be in the driver’s… [Read more]
Risk lovers may be starting to get cold feet if recent price action in Emerging Market (EM) equities and commodities is anything to go by. Indeed, I have started to see quite a few compelling short-term sell signals in global markets, and not just confined to the frontier plays, but the major EM risk bellwethers… [Read more]
‘What happened to the ‘sell in May’ brigade?’ is the question on Risk Watchdog’s lips today. They certainly haven’t shown up across the Emerging Markets (EM) equity spectrum, going by the massive gains enjoyed across the board of late. Take the BRICs, for example, where year-to-date performances have been nothing short of spectacular… Heading the… [Read more]
Looking at EM equities these days, one can easily overlook the woods for all the trees. Aside from short-term bounces here and there, the overall direction of stocks continues to point downwards. However, I have started to frequently come across comments such as ‘stocks are oversold’, and ‘valuations are highly attractive’. Well, that may be… [Read more]