What seems to be overlooked by investors is the fact that stocks in Emerging Europe have also seen noteworthy results.
-Frank Holmes, chief executive officer, U.S. Global Investors
If history had turned out differently, the USSR would've taken home the most Olympic medals this year, as the total awarded to athletes from the area was 163, according to a blog on Foreign Policy's website. As we all know, the Wall came down, the Soviet Union collapsed, and now Russia has to be content with its third-place position of 82 medals. Athletes from the United States were awarded the most medals (104), followed by participants from China, who took home 88.
In another contest, the U.S. stock market outperformed many developed and emerging equity markets for the year as of the end of August. Despite the negativity surrounding corporate earnings, lower economic growth and ongoing political uncertainty, the S&P 500 ETF rallied, climbing 13 percent through August 30.
By comparison, the iShares S&P Europe 350 ETF only rose 6.9 percent.
What seems to be overlooked by investors is the fact that stocks in Emerging Europe have also seen noteworthy results. As you can see in the chart below, the Eastern European Fund (EUROX) rose nearly 10 percent over the same time frame. Turkey was a significant contributor to those results, with stocks in the country climbing almost 40 percent; Russian stocks only advanced about 4 percent.