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Strategies & Market Trends : Emerging Market Investments

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From: Sam Citron1/11/2006 8:16:57 AM
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History...ups and downs

A Brookings Institution report states:

As of mid-February 1999, most emerging market activities on Wall Street are dead in the water. The industry is downsizing. Sell-side houses in the US and Europe have for the past eight months been laying off personnel in emerging market research, sales, and both client-based and proprietary trading. New issues of emerging market sovereign and corporate bonds and new listings of ADRs have dried up. Portfolio managers report that their institutional clients are withdrawing from emerging market debt as an asset class and are at most maintaining, but not adding to, their positions in emerging market equity. Asset allocations this season have been minimal or even negative as some investors attempt to use rallies as an opportunity to unload.

Michael Adler, Emerging Market Investing: Problems and Prospects
brookings.nap.edu
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