BRIC Abandoned

In 2001 a banker at Goldman Sachs coined the term BRIC for a group of emerging economies that outpaced their peers and looked ready to outpace the world. Brazil, Russia, India and China were the BRIC group. According to recent analysis that held true for about 7 years and then gradually the BRIC's started to return similar and often slower growth and share values than their peers in the developing world and the developed. A chart at Reuters shows that the correlation between BRICs and other emerging markets is close to 1 meaning they are the same. It seems that Fund managers and investors in droves are moving away from BRIC and funny story back into VALUE, which companies show growth rather than which economies.  Looking at the chart Jim O'Niel was right for about 3 years. One would have thought it obvious.