While the news worldwide seems universally gloomy, it doesn't mean that there aren't any bargains to be had.
If you're looking for opportunities to grow your money in ways that are not dependent on changes in monetary policy or a solution to the Eurozone debt crisis, here's a good one.
It's a brand "new" market that has just had a stroke of good fortune, which means its prospects now look much better than they did before.
It has a decent-sized market, with lots of companies listed in the United States, and low political risk.
It may surprise you to know that I'm talking about Mexico.
Now, I know that Mexico hasn't exactly been at the top of list when it comes to finding safe investments.
For the last decade, Mexico has been bedeviled by the stranglehold of oligarchy, slow growth and an economy which is excessively dependent on the United States.
Admittedly for investors, there did not seem to be much to go for. The big companies, such as those controlled by Carlos Slim, the world's richest man, sold on sky-high P/E ratios and seemed to offer more risk than opportunity. Meanwhile, smaller outfits were stifled by Mexico's bureaucracy and slow growth rate.
But the truth is things have been looking up recently for this down-beaten market.
The Economist panel of forecasters predicts Mexico will grow at 3.7% in 2012 and 3.8% in 2013.
That's nearly double the 2% GDP growth U.S. investors can expect and much more than double the forecast for the Eurozone, which is flirting with a recession.
In today's markets, Mexico is one of the few places that offer investors real growth.
Change South of the Border
But there's another reason for investors to begin to look south of the border.