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It looks like a great time to buy international stocks with currencies down and expectations shorn off. I was looking at FMX pull back. What are your thought here?

In general -- and in the case of Femsa, too -- I think you're probably better off considering companies in emerging markets other than Mexico first.

Femsa remains a wonderful company, but it was richly valued and its pullback has been relatively small. In this particular case you can say the same for Mexico, too. Brazil and some of the markets less connected to the US have been harder hit.


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