I have returned recently from a lovely Christmas holiday in the USA. Indeed, I'm happy to report that despite America's political turmoil and divisiveness, families can still celebrate together (with minor exceptions)!! Regarding the US financial market outlook, I was struck by the universal sense of optimism. The consensus is the bull market will widen [...]
Tag: emerging markets
Emerging Markets: Coping with Trump 2.0
2 November 2025 Potus 47 now has returned from his Asian visit: unsurprisingly using superlatives to describe the trade agreements reached with Japan, Korea, and China. Upon taking office, Mr. Trump pledged to impose high tariffs against countries with large bilateral trade imbalances, espcially those conducting "unfair" trade practices with the USA. Potus 47 now [...]
Strategy 2024: Searching for a Soft Landing
13 December 2023 Happy Holidays! Another challenging year is coming to a close. Yes, the US (and global) economy defied expectations of recession. True, the S&P 500 has recorded a 20% gain. However, the rally was narrow: only technology outperformed the market. Indeed, of the 8 market sub-sectors, only tech, industrials, and financials posted positive [...]
Africa: Debt Crisis Looming?
7 August 2023 Africa has underperformed economically for a long time. Per capita GDP has risen less than 1% annually during the past 30 years (chart below); lagging all other emerging market regions during this period (although Latam has also slowed in the past decade). During this interval, meanwhile, output per person in the advanced [...]