Buy a Bric, skip the Mints

I went on BBC Money Box last weekend to talk about emerging markets. Jim O’Neill, the ex-Goldman guru who came up with the idea that everyone must invest in the Brics (Brazil, Russia, India and China), has given us a new acronym summing up where he thinks we should put our money now – Mint (Mexico, Indonesia, Nigeria and Turkey).

Did I think, asked our BBC host, that this would be a good idea? My answer? Not particularly. Back in the days when everyone went on endlessly about the Brics, Albert Edwards of Société Générale [...]

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