Happy returns.Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. is the clearest indicator of the investment adage that emerging markets usually outshine out·shine v. out·shone , out·shin·ing, out·shines v.tr. 1. a. To shine brighter than. b. To be more beautiful, splendid, or flamboyant than. 2. slower, older U.S. and European bourses. Latin American stock indices outpaced the world in terms of the returns they produced last year, at 50%, according to Morgan Stanley Capital International Morgan Stanley Capital International (MSCI) This firm publishes a number of well known benchmarks, such as the MSCI World Index. . In close second, Japan's Nikkei 225 returned 40%. In the United States, returns on the Nasdaq and S&P 500 indices failed to exceed the traditional risk-free rate Risk-free rate The rate earned on a riskless asset. of 5%. 2005 total returns in US$ terms(%) MSCI Latin America 50% Nikkel 225 40% MSCI EMEA 39% MSCI EM 35% MSCI EM Asia 27% FTSE 100 4% S&P 500 3% Nasdaq 1% SOURCE: MSCI, Factset Note: Table made from bar graph. |
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