Tuesday, November 5, 2013

Gary Shilling: South Korean equities looking attractive

South Korea has emerged as one of the few relatively solid rocks amidst a sea of leaky emerging market barges.

Investors of late have been rushing into South Korean equities amidst the Fed's recent discussion of tapering its $85 billion per month in security purchases, as we'll discuss later.

As of the end of October, the KOSPI index was down only 1% from the October 2007 peak. In contrast, the MSCI World index is off 4% since then and the MSCI Asia Pacific Index has dropped 14%."