Last July, I wrote a long Poland article that described the favorable economic climate combined with low valuations that make for a strong long-term investment thesis in the country. Since then, the iShares Poland ETF (EPOL) is roughly flat, while most European equities are down 10% or more.
Following the recent selloff, I am neutral on global equities. For the long-term buyer, there are many fire sales as in Poland and Russia. But for an active investor who prefers to avoid recessions, further downside may be likely, as the global economy may deteriorate