Outstanding debt securities from developing nations have ballooned from $5 trillion a decade earlier.
The market will become much larger, deeper and more liquid, says Pimco.
“If you track the index you end up holding a lot of undesirable companies,” money manager Robert Marshall-Lee says.
“I believe the U.S. is the best place to invest,” Vanguard founder Jack Bogle said.
A new study shows that no single industry can provide a lasting competitive advantage.
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