Emerging-market stocks have trailed U.S. shares so badly during the past three years that they are worth buying in anticipation of a rebound, according to Ryan Larson, an analyst at Research Affiliates LLC.
“We’ve had a pretty good crisis,” says Barry Bausano , smiling as he surveys Deutsche Bank AG’s sprawling 35,000-square-foot equities trading floor in downtown Manhattan. Behind him, on bookshelves in his glass-walled office, sit two copies of “Too Big to Fail,” along with “Liar’s Poker” and “Triumph of the Optimists,” which tracks 101 years of worldwide investment returns.
U.S. stocks rose, with the Standard & Poor’s 500 Index erasing an earlier slide as a selloff in Internet and smaller companies abated amid optimism over deal activity. Treasuries declined for the first time in a week before Federal Reserve policy makers meet tomorrow.
The Standard & Poor’s 500 Index fell, erasing its gain for the year, while Treasuries and the yen advanced as tension persisted in Ukraine. Copper declined as data from China missed estimates and gold reversed losses.