金磚四國

BEWARE THE LURE OF GDP WHEN SEEKING STOCKS IN BRICS
關於金磚四國的神話


Arcus Research駐東京分析師塔斯克:金磚四國,尤其是中國,現在成了全球投資者的寵兒。但投資金磚四國真的有回報嗎?

Emerging markets used to be known as the markets you couldn't emerge from in an emergency. They are now mainstream. Consultants are recommending greatly increased allocations to take advantage of the hottest growth story of our times. Mutual fund investors are syphoning money from developed markets and pouring it into EM funds – just as 10 years ago they cashed out of “old economy” stocks to chase the dotcoms.

新興市場過去常常被稱作你在危急時刻脫不了身的市場。現在它們是主流。諮詢顧問正建議大幅提高配置,以利用當今時代最熱的成長故事。共同基金投資者紛紛從發達市場抽出資金,投入新興市場基金——就像10年前他們賣掉「舊經濟」股票去追逐網路股一樣。

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