Nowadays, while trying to find investment candidates many of them inevitably come from emerging markets. This is not a coincidence. The U.S. market outperformance versus emerging markets has meant that many of the best growth/valuation/ safety compromises are often found outside of the U.S. markets. This outperformance has been extreme:
Source: Yahoo Finance
When considering investment candidates outside of the US markets, especially in countries having their own currencies, a new factor emerges. No longer do you just have to consider the fundamentals of the companies you’re looking into. You also have to consider the