All of this is Monday morning quarterbacking. If you or I were in there we'd probably have done a much worse job. His great legacy was his pragmatism. He was cautious.
Christian Stracke
So you put a little Jamaica in the fund, a little South Africa, a little Thailand. In a global crisis, all three will be a dog. But if you're a [hedge fund] manager, you don't care. You just want to offer as much diversification as possible, with as much yield as possible.
africa global care dog south crisis offer
The market wants Lula to win in the first round just to get this over with.
market win
Where the credit is really due is in the early part of Greenspan's tenure: being faced with the aftershocks of the Wall Street crash in 1987 and dealing with that quite well. He confronted some very serious potential crises and got us to a point where we avoided them and are better off than we might have been otherwise.
potential wall early part credit
pragmatism morning legacy job great worse
To Mexico's credit, they don't allow the oil windfall to get in the hands of the Treasury too much so they haven't really grown dependent on it.
hands oil credit
Because the economy is so strong, import growth is also very strong, and that import growth is eroding trade surpluses. Surpluses of more than a billion a month might be over.
growth strong economy trade
In Mexico, there is too much risk priced in.
risk mexico
On the flip side, there should be more concern in Brazil.
concern side
Even if he doesn't win, he could be a radical voice for the left.
voice win radical left
It is a perfect time for populism. It will be more and more difficult for Brazil to resist.
time perfect difficult resist
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