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@ khwender:
Oct 27 22:11 pm
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All Comments by Max Zeledon »Staying Away from iShares MSCI Brazil ETF [View article]
Look, our expectations and assumptions about the world seldom match reality. This is a huge crisis. We don't know what's going to happen over the next couple of years. The fall in exports to the U.S. and Europe will have devastating consequences for Brazil and other BRIC nations. To what extent? I don't know. Also, hedge funds are dropping like flies and I just don't think people understand the power these institutions had over the market. Many hedge funds were playing the “carry trade” in Brazil. They were borrowing Yen at a very low rate and they were investing the proceeds in Brazil. When things got rough for the real they had to dump. just don't see how EWZ will gain any momentum right now.