Gary Gordon submits: April was the best month for U.S. stocks in 2011 and analysts were quick to offer explanations. The most common interpretation? The markets were pleasantly surprised by the fact that 75%-80% of corporations beat their earnings and revenue forecasts.
Of course, revenue-generating, profit behemoths owe most of their success to sales in the developing world. The greater the U.S. presence in emerging economies, the better the ?beat.?
The heart of the bullish case for stocks and commodities hasn?t changed since the bull?s inception in March of 2009. Specifically, we?ve got scores of developing countries that need more stuff - raw and finished product - than ever before.
Surprisingly, many analysts failed to examine money flow. For example, in the first week of April, emerging regions from Eastern Europe dominated equity fund inflow. In the same vein, on Friday, April 29, three of the greatest upside volume surprises were iShares Asia
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