.....the Peru IGBVL 'General' headline index.
This first one is the one making all the feelgood headlines of "up 50% in 2009" and "world's best performing stock market" and stuff of similar ilk.
Well, it may be a top world performer in 2009 but I hope you haven't been buying and holding it for the last couple of years. Here's the same index as from January 2007....
...and if it kinda reminds you of the movements in copper....
This first one is the one making all the feelgood headlines of "up 50% in 2009" and "world's best performing stock market" and stuff of similar ilk.
Well, it may be a top world performer in 2009 but I hope you haven't been buying and holding it for the last couple of years. Here's the same index as from January 2007....
...and if it kinda reminds you of the movements in copper....
......file that thought under 'not a coincidence'. Whatever Twobreakfasts might want you to believe, Peru's economic growth is based on luck and external demand for its metals, not some miracle of management.