April 11, 2013

By Derek On April 10, 2013 Under Uncategorized

Finance has certainly joined the ranks of sectors where many good people suddenly find themselves out of work. This week in Emerging Markets Illustrated we look into recent unemployment numbers in the US and ask, what are 50 million “discouraged” American workers doing? Public debt levels in developed countries are at escalated levels and are moving higher. Does this matter? Markets appear to think not. EM countries are seeing public debt levels recede. Does this matter? Markets appear to think so. We also see evidence of what is turning into one of the major forces in global fund flows this year. While bad behavior at US-listed Chinese companies has been an all too common theme with investors losing billions, a judge in Delaware has now ruled one Chinese company must buy back at book shares held by a disgruntled investor.  New evidence from three centuries of data that the “Sell in May” strategy of stock speculation actually works gives one pause and makes us think that maybe Warren Buffet is not exactly correct when he says that with markets you have to “Be in it to win it.”

This makes me ponder, what to do with my free time this summer?

Cheers.

Derek Hillen, CAIA

Mirae Asset Securities

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