A few fund managers are in short position now.
http://mmb.moneycontrol.com/india/me...76217/21176217
CLSA strategist Russell Napier’s latest note make for some grim reading. He is bearish on emerging markets and has cautioned that external debt to GDP ratios are at levels only previously associated with defaults.
Following is the summary of his findings: (an excerpt from the CLSA report)
*Global growth is slowing and interest rates rising
*Major debt defaults are likely in Eastern Europe
*Deleveraging baby boomers stop US recovery
*We are near to the trap (near zero inflation and interest rate) of which Bernanke warned us
*QE is not a safety net for asset prices
*US equities are very vulnerable at 23 times cyclically adjusted price-to-earning ratio)