Emerging Markets That Merit a Closer Look

The place to look for stock bargains may finally be among developing economies, where share prices collectively are down 17% from their recent spring 2011 peak and stocks are trading at an average price/earnings ratio of 10.7 -- a 40% discount to shares of developed nations.  Notes Jeff Shen, head of emerging markets at BlackRock: "That's about the widest spread in more than 15 years."

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-Igor P Purlantov