Best Emerging-Market Stock Pickers Buy Drugmakers to Retail – Bloomberg 06-24-13

Salient to Investors: Only 3 emerging-market stock pickers avoided losing money in half1 by making prescient currency bets and buying companies insulated from economic swings and government interference. They recommend Philippine retailers, Chinese Internet companies and Indian drugmakers. Lewis Kaufman Thornburg Developing World Fund said there are many going wrong.  Kaufman is overweight

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China Loses Control of Its Frankenstein Economy – Bloomberg 06-24-13

Salient to Investors: William Pesek writes: The world believes that China’s leaders are masterful stewards of their economy, steering brilliantly around the 2008 financial crisis, with near-double-digit growth. But the Chinese economy is a giant and powerful creature born of unorthodox experiments, and its makers are increasingly losing control. Over the past decade, China’s

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Lost Decade for Bonds Looms With Growing Return for Equities – Bloomberg 06-24-13

Salient to Investors: 10-year Treasuries yield 2.61 percent versus the S&P 500 aggregate earnings yield of 6.4 percent – more than double the average spread of 1.9 points since 2000. Investors are avoiding longer-term Treasuries, concerned that returns will be depressed for years, and money managers foresee the end of a rally that

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Stocks Fall With China in Bear Market as Bonds Decline – Bloomberg 06-24-13

Salient to Investors: Ethan Anderson at Rehmann Financial said investors have been shaken by the concept of rising interest rates, a reduction in Fed stimulus, and uncertainty about the Chinese central banking system. Goldman Sachs cut its 2013 forecast for China’s economy and said the cash squeeze is hurting growth. Vasu Menon

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