2016 is almost over here on Wall Street
here's 2017 in a minute now emerging
markets have been in a bear market for
more than five years now but they're not
one homogeneous mess if you take a look
at how they fared since emerging markets
beat you can see that Asia has performed
very much better and that the
performance of Eastern Europe and Latin
America two very different parts of the
world is remarkably similar that
suggests that passive investment that
treats emerging markets as one block
continues to dominate and distort flows
there may be advantages for that in the
very long term but it suggests that it's
difficult still to pick for value on a
bottom-up basis in emerging markets it's
a problem now the other critical measure
we need to look at is the currency as
you can see emerging market currencies
of weaken very dramatically they appear
to be recovering but with the advent of
Donald Trump faith weakens once more
to see a real recovery in emerging
markets we need to see those currencies
recover and whether whatever happens in
the first few weeks of a trump
presidency and that is the New York
minute