Now The Carnival Is Over

Quote by: Dean Newman (Head of Emerging Markets at Invesco Perpetual)
Quote made on: 29/08/2012
Quote Submitted by: James Reynolds
Source: FE Trustnet

Editor's Notes

Just over a year ago, Dean Newman did a convincing piece for FE Trustnet in which he explained how the Brazilian government`s hefty stimulus package, announced on 15 August 2012, would create a boost to economic growth and make the country a more investable proposition.

Well, anyone taking this as a cue for investment would have been better off blowing their money on a jaunt to Rio.

Over the last year, Brazil has turned out to be one of the worst global stock market performers, the market price return of iShares MSCI Brazil Capped ETF having fallen by 12.86% during the most recent twelve month period.

One hopes that Brazil`s left of centre government turns things round before the Barmy Army descends on it to watch the World Cup next year (though we`re not necessarily forecasting that the England team will be there as well).

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Published on: October 3, 2013

Category – Rest of the World Predictions and Gaffes
Tags – Brazilian equities, Dean Newman, flawed financial forecasting, Invesco Perpetual

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