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Almost fifteen years ago, Goldman Sach’s Jim O’Neil coined the term “BRIC” to describe the up and coming economies of Brazil, Russia, India and China. I doubt Jim had any clue how popular the term would ultimately become…

And with that popularity came the trendy specialized funds. But like all fame, it eventually fades. Especially when performance lags.

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With that terrible underperformance, investors have fled the Goldman Sachs’ BRIC fund more quickly than Charlie Sheen at a court mandated AA meeting.

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Over the week-end Goldman Sachs decided enough was enough, and decided to wind the BRIC fund down.

When the originator of the term is giving up on the BRICs, I think it is worth taking a shot. MSCI is keeping their BRIC ETF going (ticker BKF), and yesterday I took a punt on the long side. Call me foolish for trying to catch this knife, but I bet I am not alone. It wouldn’t surprise me at all if some traders from the squid are doing the exact same thing…

Thanks for reading,

Kevin Muir

the MacroTourist