Russell Napier on a crisis in emerging markets and the private debt overhang

I was looking at fund manager GMO's quarterly newsletter just now when I was reminded of a recent Russell Napier interview with CNC-TV18 in India in late May.
Now is a time to think of EM as cyclically weak
Before I get into what Napier was saying, let me note that GMO is bullish on emerging markets. And EM has been getting killed, in large part due to the strong US dollar. So it's always interesting to read how a fund manager messages to clients when the calls they make blow up.

Now, the dolla...


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