SO IF THAT WAS A DEPRESSION...:

World Regains Taste for Risk: Stocks, Currencies in Emerging Markets Soar; China's Stimulus Spending Kicks In (JOHN LYONS, ALEX FRANGOS and ALASTAIR STEWART, 5/10/09, WSJ)

Investors are aggressively piling back into markets shunned as too risky just a few weeks ago -- driving up stocks in the developing world and raising concerns that the euphoria may be overdone.

As fears of a deepening global recession are pushed aside by expectations of recovery, investors have rediscovered their appetite for risk in places ranging from Brazil and China to Russia. Brazil's Bovespa stock index is up 75% since its October lows, and across the emerging-market world, stocks are up 50% since the beginning of March, according to the MSCI Emerging Markets index, which tracks 23 markets.

During the week ended May 6, investors plowed $4 billion into emerging-market investment funds, marking the biggest week for the funds since late 2007 -- and their eighth-largest week ever -- according to Bank of America-Merrill Lynch and EPFR Global. Meanwhile, investors withdrew $9.8 billion from U.S. funds in seven weeks.

...what are the old folks always complaining about?

Posted by Orrin Judd at May 11, 2009 6:18 AM