|From CNN: Are emerging markets a bargain right now? The instinct is right, as developing-country indexes have taken a serious thumping this year. Year-to-date, Argentina's main index is down 51%. China's is down 63%. Russia is down 68%.
Overall, the MSCI Emerging Markets index is down 52% year-to-date, versus *just* a 34% drop for the S&P 500. The result is that emerging markets are cheap by several metrics: a 10.1 trailing price-times-earnings ratio, or a 20% discount to developed markets, according to a recent Merrill Lynch report..... Full Article: Source