Markets move in cycles. Emerging Markets are not only cyclical but also extremely volatile. Peak-to-trough swings of more than 30% are common. Cycles don’t repeat themselves, but they do rhyme. As commodity prices were collapsing in 2015-2016, Emerging Markets bottomed in February 2016. Pundits hysterically predicted that it would take a decade for extraction basedContinue reading “Emerging Market Cyclicality”