If you were disappointed by the BRIC hype, you are not alone. A lot of investors were even more upset when it was revealed that BRIC (Brazil, Russia, India, China) became BRICS not because South Africa was truly an emerging economy, but because there was a hue and cry over not adding an African country and adding Nigeria (the other fast growing economy in Africa) was not going to sound very well, they added South Africa.
If you have lost money trying to invest in these economies (the growth has not sustained and unless you invested massive amounts of money, you probably lost it through index funds), don’t fall into the trap replacing them. It is yet another catchy acronym: MINT (Mexico, Indonesia, Nigeria, and Turkey).
Mexico: I mean, seriously! Yes, things are slightly better than before, but if you read the news carefully, there is a civil war underway between militias, drug cartels, and law enforcement (no one knows if they are on the side of the people or the criminals).
Indonesia: This is a country that reminds me of Brazil in BRICS. Not too poor, lots of people, and a rising middle class. I can’t imagine how they can sustain the growth when Indonesian Rupiah is in free fall.
Nigeria: Be careful investing in a company because you cannot trust any financial information. Granted that this is a country rich in resources but almost all the businesses are run by thugs and crooks. So not right for individual investors.
Turkey: We have heard this music before. The country is undergoing enormous turmoil and the fight between the progressives and mullahs is about to get ugly leading to multi-year chaos.