The author Marshall Goldsmith once wrote something that has stuck with me, “Once you get a reputation for emotional volatility, it can take years of model behavior to change how others see you.” If the word “emotional” is replaced with “financial,” Goldsmith’s words could easily be applied as a description of the relationship between investors and Latin America.
After an optimistic couple of years, Latin American currencies and stock markets including Brazil, Argentina, and Mexico have struggled this year. ETFs tracking those countries on the U.S. dollar stock market performance have declined by 12%, 16%,