The term “BRIC” nations (Brazil, Russia, India, China) was coined in 2001 by economist Jim O’Neill. Ten years later, in November 2011, Société Générale strategist Albert Edwards gave “BRIC” a backronym (back acronym) meaning of “Bloody Ridiculous Investment Concept.”
BRIC = Bloody Ridiculous Investment Concept (courtesy Albert Edwards)
4:40 AM - 30 Nov 11
CHART OF THE DAY: BRICs = Bloody Ridiculous Investment Concepts
SIMONE FOXMAN NOV. 30, 2011, 7:53 AM 5,039 6
The term “BRIC"—coined by Goldman’s Jim O’Neill 10 years ago to denote Brazil, Russia, India, and China—should really denote “Bloody ridiculous investment concept,” writes Societe Generale strategist Albert Edwards in a note out this morning.
That’s because the BRICs—as well as emerging markets in general—are actually doing terrible right now; even worse than the struggling eurozone.
Albert Edwards On The BRICs As A “Bloody Ridiculous Investment Concept”... And A China Hard Landing
Submitted by Tyler Durden on 11/30/2011 08:38 -0400
Just in time for the Chinese 50 bps RRR cut, we get a note from Albert Edwards reminding us just why this desperate and sudden move from China comes: “We have identified a China hard landing as one of the biggest investment shocks next year.” Not only that, but the SocGen strategist takes a long overdue swipe at the world’s most ridiculous concept, Jim O’Neill’s BRIC debacle: “Despite recent poor performance investors still seem to favour EM and the BRICs. My good friend and former colleague Peter Tasker came up with an alternative for the widely (over) used BRIC acronym - Bloody Ridiculous Investment Concept.” It appears that the PBOC was well aware of this re-definition when it decided to announce to the world that it has started easning once again last night.
Barron’s—Emerging Markets Daily
July 18, 2013, 9:02 A.M. ET
BRICs: Bloody Ridiculous Investment Concept
By Ben Levisohn
Leave it to Societe Generale’s Albert Edwards to push the knife even deeper into the once popular investment theme.
New York City • Banking/Finance/Insurance • Wednesday, November 13, 2013 • Permalink