Greetings from Leon, Nicaragua, which is about an hour drive northwest of Managua. Leon is the second largest city in the country and was the old capital for more than 200 years, before Managua became the capital, in 1851. I’m staying with a friend of mine from college and his family, who moved down here five years ago.
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As the World Turns: A Few Notes on Emerging Market Investing
In a recent edition of The Daily Reckoning, Bill Bonner observed, “The world turned against them at the beginning of the Industrial Revolution. But if the world turns long enough, it comes back to where it began.” He was writing about India. But he could have been writing about China…or Nicaragua…or any one of a number of emerging markets.
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