The trend for emerging markets outperformance is down. It’s very much down.
We caught a nice rally in EM last year on absolute terms, but we’ve wanted to be selling those stocks for a few weeks now.
I’m in the process of preparing for our Live Monthly Conference Call this Monday evening. Going through all of the data, this is one chart that definitely stands out.
Emerging Markets are hitting the lowest levels relative to the S&P500 since 2003!
The turn will eventually come I guess. But there is ZERO evidence that’s it’s actually happening now.
If you haven’t already registered for Monday night’s Premium Conference Call, you can do so here.
Looking forward to it!