STXEMG at R86.88 is a cheap way into emerging markets if you reckon the cycle's turning, but the real quest…by @swordfish_sa on $STXEMG

STXEMG at R86.88 is a cheap way into emerging markets if you reckon the cycle's turning, but the real question is whether EM weakness has legs. Revenue growth in these economies is patchy at best, so you're basically betting on multiple expansion here.