Morgan Stanley Goes Contrarian: Buy Emerging Market Stocks and Commodities22percent
Commodities and emerging market stocks performed very poorly during the third quarter, as China worries were mounting, global demand slowed and it certainly made investors uneasy about what lies ahead. Copper is down over -15% year to date, WTI crude oil is down almost -12%, and oats have been the worst performing commodity year to date, down -32%. The Chinese Shanghai Composite Index shows Chinese stocks are still down -5.62% year to date, but seem to have stabilized from the extreme volatility we saw back in July . . .
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