Emerging market (EM) currencies are not a very “sexy” asset class, said the Speaker. His chart, which tracks the total return performance of the 21 most liquid EM currencies, shows there have been only few opportunities on the long side if they were well timed: 2006-07, 2009-11, and 2016-17. Over a 15-year period, a long-term investor woul...
Reflections: November 2023
Each month I tie together the various threads of our work and connect the dots between what I observe in my travels and conversations.