Stevenson writes that investors who are looking at emerging markets needs to focus on good quality assets in the proper countries with tangible cash flows and solid managers.
Emerging markets have become attractive again because capital flows out of China are gaining traction as the Chinese market moves emerging market sentiment more than Western countries, specifically the US, these days.
Stevenson advises approaching investment with a keen focus on quality assets such as infrastructure in emerging markets.
Stevenson then compares the potential return on investment in different emerging market countries due to local economic and political factors, such as the difference in climate between India and Romania.
Read the full piece at the Financial Times.