There's little relationship between country-level gross domestic product growth and local stock market returns. A better approach: identify companies that will benefit most and will pass on those benefits to investors
The conventional investment wisdom of “going where the growth is” would suggest increasing equity allocations to emerging markets. But our research shows that there's little relationship between country-level gross domestic product (GDP) growth and local stock market returns. The best way to take advantage of the developing world's growth is through bottom-up research that identifies companies that are most likely to benefit and that are priced attractively. The Allure For decades, ...
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