Aug
23
Emerging Markets in the Dumps, from Charles Pennington
August 23, 2013 |
This is just a "gee whiz" observation, but emerging markets are really in the dumps. EEM (the big emerging markets ETF) is only about 10% above its 2011 low, while SPY is up about 50% over the same period.
According to Morningstar, the P/E for EEM is 10.4, vs SPY at 15.4. Price to book is 1.3 vs 2.2 for SPY.
Seems like a reasonable deal to me and reminds me of the Nikkei when it was in the doldrums and only Rocky was interested. (And Dan Grossman as well.)
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