Hot shot investors are returning to emerging market stocks despite the battering they received from the market, The Wall Street Journal's
Erin McCarthy writes.
Despite tough times in Mark Mobius' Templeton
] Developing Markets Trust
, down 8.6 percent this year, mobiles continued to hold on to markets like Indonesia and India, and has bought select stocks in Russia and mexico, McCarthy writes. Joining Mobius is Goldman Sachs'
] Yacov Arnopolin
, who went to the Brazil's real and the Mexican peso and Pimco
] Pimco's Michael Gomez
, who invested in Brazil as well, McCarthy writes.
Not everyone is so keen on waiting for those markets to come back.
, portfolio specialist at T. Rowe Price
], reduced his holdings in Turkish bonds and exited positions in the Indian rupee, McCarthy writes. Kalinowski is quoted by McCarthy as saying of the real, "We want to like it but it keeps disappointing."
] head of emerging market equities, added stocks in India, Indonesia, Brazil, after other markets had significant declines, saying that the declining companies would have to make tough choices now that foreign investors are no longer propping them up, McCarthy writes.
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