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Deutsche Bank’s BRIC Bear Smith Leaves to Start Own Firm

John-Paul Smith, the Deutsche Bank AG strategist whose bearish forecasts on emerging-market stocks put him at odds with most of his peers on Wall Street, is leaving the bank to start an independent research firm.

Smith, 53, who joined Deutsche Bank in 2010 from Pictet Asset Management, is forming Eclectic Strategy with his former Pictet colleague Emad Mostaque, he said in an e-mail to Bloomberg News. Smith was previously at Morgan Stanley, where he correctly forecast Russia’s stock-market crash in 1998.