Last week we mentioned the market was going to continue up, overweight Turkey and South Africa. Summary of the week was the market went up and Turkey went up 7.96% for the week and South Africa was up 2.5% for the week.
Current model results indicate that India is still the largest exposure with Malaysia, South Africa, Turkey, and South Korea the next largest exposures. Based on our agent-based behavioral measure the US is still undervalued by 11%. We still see some more upside before year end. However, we are getting close to the point where we might see a decent pullback. We will keep you updated.
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