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Article: Emerging Markets: Ready to Rebound?
- Article from:
- Kiplinger's Value Added Web Column
- Article date:
- June 11, 2002
CopyrightCOPYRIGHT 2002 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline:Steven Goldberg, Kiplinger Washington Editors
Emerging markets are currently selling at near-record-low price-earnings ratios versus those of Standard and Poor's 500-stock index. Such low relative P/Es have been a great indicator in the past that emerging markets were ready to rock 'n' roll.Emerging markets have been wildly erratic and barely profitable investments since they first became visible to investors in 1992. Indeed, the ten-year annualized return of the Morgan Stanley Capital International Emerging Markets index is an almost invisible 0.14%. You'd have done far better in a money-market fund. The S&P, by contrast, returned an annualized 12.2% over ...