Hong Kong's Growth Enterprise Market GEM has quickly acquired the soubriquet The World's Worst Performing Market. It is the kind of glib simplification that many practitioners of my profession are wont to make. Using cliches saves people - especially journalists - from having to think for themselves.
But the trouble with simplifications such as the one above is that they tend to miss the point entirely. While the GEM market index might indeed be the worst performing index in the world so far this year, the GEM is by no means the worst performing market. I would go so far to say that it is one of the best markets, certainly in Asia,...
