Pedro Zevallos, emerging markets portfolio manager at Dalton Investments, was recently quoted in Reuters, discussing December’s drop in global markets. Nearly $7 trillion has been wiped off world stocks, emerging markets have been trampled flat by a charging dollar and even gold and U.S. government bonds have lost money in 2018.
The big falls meant many markets, including China were now cheap. “But right now it honestly feels like catching a falling knife. And my concern going into next year is that the dollar will continue to strengthen,” says Zevallos.
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