Showing posts with label emerging but no longer a mother lode. Show all posts
Showing posts with label emerging but no longer a mother lode. Show all posts

Wednesday, March 5, 2014

Emerging, But No Longer A Mother Lode

When it comes to investing in emerging markets, few companies have been as gung-ho as Diageo, the British maker of the Guinness, Johnnie Walker and Smirnoff brands. But now that troubles are cropping up in many such countries around the world, Diageo has turned from cheerleader to excuse-monger.Government crackdowns on high-end drinking in China. Inflation and currency worries in Argentina and Venezuela. Political turmoil in Thailand; saturated beer markets in Nigeria; a religious backlash in Turkey. These and other adversities were cited by company officials this year when Diageo announced disappointing profits.