Brics “mania” over, says Ruchir Sharma

Morgan Stanley’s global macro and emerging-market equity chief Ruchir Sharma says investors must avoid the big Bric markets in favour of smaller markets such as Thailand.

Brics “mania” over, says Ruchir Sharma

Ruchir Sharma, head of global macro and emerging-market equities at Morgan Stanley Investment Management in New York, describes the current decade for investors as a post-Brics world’.

“My argument for investors is the reverse of what it would have been 10 years ago,” Sharma says. “Every decade has had a theme that captures everyone’s imagination,” such as tech in the 90s, Japan in the 80s and natural resources in the 70s. For each period, these...

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