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It's true that a lot of the stocks listed on these indices would be pretty speculative investments. But for people looking to geographically diversify their portfolio's, some of these countries might be unexpectedly attractive places to invest.

Botswana, for example, is home to one of Africa's most stable democracies and the P/E ratio of its domestic company index is only 11.4 compared to 18.7 for the S&P 500.

I find some of the biggest drawbacks are logistical (e.g. getting good data/research, locating a broker, wiring funds, etc).

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