Goldman Sachs shuns BRICs for Wall Street - papers

The US bank is advising clients to rotate into Wall Street and Old World bourses as a safer bet over coming months, the Telegraph reports. "We're not as tactically positive on the BRICs as we have been," said Tim Moe, the bank's chief Asia-Pacific strategist, referring to the quartet of Brazil, Russia, India, and China. "We may have held on too long to our overweight position in China last year. We have decided that discretion is the better part of valour and have tactically reduced our weight. Asia is not in the sweet part of the cycle. "The longer-term picture of Asia outperformi...