^That would only be relevant if you were managing zillions of dollars.
Yea I know, it doesn’t really apply to anyone here individually.
At the same time though, it does. I think the size of the U.S. investment industry in comparison to most EM’s is exactly as I described, there’s simply too much money coming from Western investors for any one EM to use (excluding perhaps a couple of the largest ones). You can talk all you want about how good of a deal it is, it doesn’t matter, most investors still won’t be able to go there without screwing themselves over.