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JAN 27, 2014 - Zero Hedge

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Gavekal Explains The Emerging Market Panic

Submitted by Charles Gave and Louis Gave via Evergreen Gavekal, With emerging markets in panic mode, investors are bound to be reminded of the enduring observation, first made by a 19th century British businessman named John Mills, that: “Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal in hopelessly unproductive works.” With that in mind, investors seem happy to link the ongoing emerging market sell-off to either a) China’s large capital misallocation triggered by the 2008-11 credit boom or b) the Federal Reserve’s ... Read More

Tags: Gavekal Explains The Emerging Market Panic,  Federal Reserve System Latest News