Looking for international bargains? Grant's Interest Rate Observer has your back. In the August 7 issue, Grant's takes a look at four, unloved emerging market stocks, and a Brazilian corporate bond.
"Each is cheap, each has merit--each had merit even before its price was sawed in half in sympathy with the goings-on in Turkey, Greece, Brazil, Russia, South Africa, Argentina, Colombia, China etc..." -- Grant's
In each case, macroeconomic problems have overwhelmed business fundamentals. But as Grant's points out, cheap businesses are a rare commodity. If it weren't for the macroeconomic dislocation, the value wouldn't be there for shrewd investors to profit from.
[klarman]
What's caused the macroeconomic trouble remains a topic of debate. A strong dollar, capital outflows, high levels...
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