Folks, with today’s underperformance of EM vs DM (the world) we would like to highlight the extreme nature of not only the techincals, but also the techincals of the fundamentals.  emerging market funds

Confused?  

It's simple:  we are graphing the P/E spread between MSCI EM and the MSCI World and showing that we are at a 2.4 std event.  

This tells you how far we have come in terms of current P/E levels.  

Technically, this fundamental "score" is as much of a view that folks should look at valuations in DM as being too high if in fact the global growth engine of EM is not recovering anytime soon.sg2014021338651

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