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By Peter Tasker
Published: June 21 2011 14:45 | Last updated: June 21 2011 14:45
How much more "emerging" have the emerging markets left to do? Probably not much, given the vast amount of capital and hope invested in the asset class already.
The extraordinary scale of what has occurred is evident from the equitisation ratio "“ a broad-brush indicator of financial development that measures the market capitalisation of a country's stock market in relation to its gross domestic product. According to Warren Buffett, this ratio is "probably the best single measure of where valuations stand at any given moment".
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