Tag Archives: Emerging Markets

Puzzling Over Equity

Posted on May 5, 2020 by

The stock market is a continually changing puzzle. Momentum and quality have ruled the last several years. Whither value? Emerging markets? Small caps? Continue reading →

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Chinese Debt for Equity Swaps, 3 Card Monte By Another Name?

Posted on April 6, 2016 by

The Chinese government is bandying about debt for equity swaps as a potential cure for the overhang of corporate debt in the middle kingdom.  Much, if not most, of the bank loans in China have been made by government owned banks to … Continue reading →

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Focus on the Chinese Currency, Not the Equity Market

Posted on January 8, 2016 by

Chinese equities have started the new year with a series of implosions, implosions exacerbated by the authorities’ ham handed attempts to dampen volatility. Despite the sound and the fury, the Chinese stock market is a sideshow. Ownership of Chinese equities is … Continue reading →

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Some Thoughts on the Yuan and Chinese Monetary Policy

Posted on August 25, 2015 by

China has dominated recent newsflow due to its stock market crash and the devaluation of the yuan (CNY).  The latter, I believe, is an attempt to free up the PBoC to conduct domestic monetary policy to deal with the aftermath of … Continue reading →

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Apres China Le Deluge?

Posted on July 6, 2015 by

China’s stock market has been in the news due to its recent plunge.  The plunge follows a strong run up over the last year. Whatever the reason for the spike up and the subsequent dive, this is a Chinese problem whose … Continue reading →

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Um Outro Gol Contra (Another Own Goal)

Posted on March 19, 2015 by

You might think the Petrobras scandal is bad enough, but Brazil has another self inflicted and serious issue that is going to be a drag on growth for years to come. It is known that China held off the effects of the … Continue reading →

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