Email of the day 2
Comment of the Day

February 12 2014

Commentary by David Fuller

Email of the day 2

On a recent investment in my personal portfolio  

“Hi David, I see that you are very keen on Vietnam. Could you briefly let us know why Vietnam compared to all of the other emerging countries is sticking out of the crowd (besides the bullish technical patterns of a lengthy completion of base formation)?”

David Fuller's view

Sure, but first I should point out that while I do like Vietnam, it is still a frontier market so my position is small, relative to investments in other emerging markets led by China and India. 

Vietnam is competitive in terms valuations and has the advantage of getting its devaluation in very early, between 2008 and 2011, as I pointed out and illustrated with a chart on Monday 10th February.  It is continuing to open its market to international investors and this is reflected by this year’s improvement in its performance (weekly & daily).  This suggests that Vietnam is back in fashion, evidenced by its highest close since 2009 today.

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