The big winner of the past month was Indonesia (IF) which was up 38%. (The image above shows the price change for the past month for various international ETFs.) Among the BRIC countries, China (FXI) did well while Brazil (EWZ), Russia (RSX), and India (IFN) lagged. Russia (RSX) continued in last place with a one month return of -4%. The US market (SPY) was in the bottom third of the selected markets. There is still some value in diversification. (See my post from October.)
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