global investing: The Allure of Over There

Developing markets can be a bit of a roller coaster. But that's not stopping investors from sending billions of dollars abroad

Emerging markets have been all the rage the past few years, with U.S. investors plowing billions of dollars into the far corners of the globe, from Pakistan to Peru. If you take a look at how some of those regions have performed, it's no wonder. The iShares MSCI Emerging Markets Index exchange-traded fund (ETF), which tracks a basket of stocks from such countries as Taiwan, South Africa, Turkey and Poland, is up 89% over the past two years. That trounces the S&P 500's 18% gain. A dip in stocks worldwide this spring shook emerging markets the hardest--India dropped 29%, Egypt 37%--but...

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