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Feb 14, 2007 - 8:25pm
Cervantes, what's your opinion? Comment below:

Emerging Markets - Seems like a good place to invest (Originally Posted: 07/05/2007)

Hi Guys and Gals, hope all is well. I'm relaxing before my MBA starts. Anyway, this topic has been brough up before but the threads haven't garnered too many replied. Hopefully this time it'll be different. What do you think of EM as a sector to get into? I am slated to go on an EM desk next summer and probably will look for it for full-time as well. I like EM for a few reasons:

  1. As spreads get tighter across the board, EM still seems like a good place to make money.

  2. Interesting factors: geopolitical, currency, etc. go into the analysis

  3. If you choose, you can go micro (like EM corporates) as well as macro (sovereign)

  4. Derivatives are getting hot (i.e CDS, CLN).

However, couple of cons:

  1. Less notionals being traded compared to other Credit and Rate (i.e. currency, cmo's) stuff.

  2. Unstable, hard to quantify risk

  3. Cross-cultural selling is always tough (but fun!)...

what do you think?

Feb 14, 2007 - 8:26pm
Jimbo, what's your opinion? Comment below:

i think you have risk to a major cooling in emerging markets over the next 3 to 5 years.

Long term, they're solid. But these countries have a tendency to blow up every few years.

Ultimately, if you like the people, go for it.

Feb 14, 2007 - 8:27pm
devin, what's your opinion? Comment below:

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