Most investors either ignore emerging markets or hand their money to active managers who underperform. Academic research points to a better approach: factor investing in emerging markets, targeting the company characteristics that have persistently driven higher returns.
When markets look expensive, valuation anxiety pushes investors to brace for a crash. But history suggests the real risk is quieter — long stretches of disappointing real returns that erode wealth slowly, without the dramatic fall investors expect.
Robin Powell
Feb 1010 min read
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