I m not very optimistic about those markets. Some of them have taken fairly tough measures. For example, in Asia, Singapore really looks impressive to me. And Taiwan s been reasonably impressive. In Latin America the only one that s impressive is Argentina.
Brazil s still very shaky.
The exchange rate setup there is fatally flawed. I really do think it will eventually blow up. Really the only star performer is Poland. The rest are question marks, all of them. They do plan a record number of initial public offerings of new stock in privatized companies for 1999.