Pakistan and India have been good places to invest your money in the last five years, if you are a frontier or an emerging market investor chasing after the next big opportunity, that is.
In the last twelve months, Global X MSCI MSCI +% Pakistan ETF has been 20%, while India's has been up close to 13%--see table.
The trouble with frontier and emerging market opportunities is that the potential for further gains is tamed, once they are discovered by foreign investors.
Besides, emerging markets suffer big setbacks as crony capitalism catches up with economic growth. Sometimes these setbacks can last decades, and even reverse the progress the country has made towards development (how many times have Mexico and Brazil have been “emerging?”).
That's why investors should look for new investment opportunities in emerging markets that have yet to be discovered by foreign investors -- like Myanmar.