(Bloomberg) The last time Jordi Visser remembers so many fellow investors saying the exact same thing about emerging markets it was February 2016 and stocks and bonds were mired in a multi-year slump.
Since then, the bulls took over: Those assets climbed 78 percent and 19 percent respectively in the past two years. Now, Visser says, euphoria has run to the point where markets are poised for a sudden, sharp drop — even though emerging-market stocks, in particular, remain attractive over the long haul.
“Today is the polar opposite,” said Visser, chief investment officer at the $1.3 billion hedge fund Weiss Multi-Strategy Advisers.
