emerging markets are simply export

ndeed become embedded, then developed market demand will strengthen: demand for smartphones, electronics, cars and so on. Emerging markets make all this stuff. Rummage through your cutlery drawers at home; the contents almost certainly come from China.gs and sculptures inspired by the hermes card caseiconography of Chanel. Three-dimensional interlocking black Chanel handbags CC’s stood twenty feet high. An oversize quilted handbag was installed on a wall with its chain-link strap trailing down onto the floor. An impressionistic painting of a two-tone Chanel pump hung on one wall; and, a little farther down the way, there were paintings of camellias. On the other side of the room, a textile installation mimicked one of the house’s signature bouclé jackets.

 Among the multitude of characters and story lines fueling Lagerfel Notion dozens of broken key rings that look like hermes kelly 32cmOs and Cs. Another box has broken bicycle locks shaped like Ds, Us and, maybe, Js. Mr. Elliman also places such bits of metal on photographic paper to make crowded, lusciously colored photograms and paints them, deadpan, in a big group like an anonymous diagram. He also prints these patterns on fabric to create bright scarves. Once you’re acquainted with Mr. Elliman’s game, all objects and images start to look odd. A huge magazine on the floor contains nothing but close-up shots of models, their tiniest gestures revealing hints of letters. Even his sparest, most inscrutable constructions—steel brush blades (lowercase Ls?) placed atop a fresh copy of The Times on the floor each day—look like carefully conceived puzzles that are also sincere invitations to reread the world around us.

 (Through Oct. 26) The notion that emerging markets are simply export-driven manufacturing economies may be simplistic and outdated but that does not mean they do not make the bulk of goods that the hermes wallet blackworld uses. Any recovery, whatever its origin, has to feed through to emerging markets. I cannot tell with any precision when emerging markets will rebound. The best I can do, as can any fund manager, is build a portfolio of companies that will deliver the best possible returns to investors within the parameters of my market sector. However, I can identify what the drivers of that rebound should be and determine how portfolios should be positioned in order to deliver good returns now and benefit from the recovery in emerging markets when it occurs.