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Byline: MURRAY COLEMAN
Investors who put money into exchange traded funds tracking emerging markets in the past year should take a bow.
"If you look at the three-year performance of Latin America, it certainly has been spectacular," said Doug Fabian, chief investment strategist at Fabian Financial Services in Newport Beach, Calif.
Take a look at IBD's one-year performance screen. It shows iShares MSCI Brazil and iShares S&P Latin America 40 on top with returns of 80.2% and 73%.
But don't relax just yet.
Fabian, who has switched to ETFs from mutual funds for his clients, isn't enthusiastic about emerging markets right now.
"We're seeing a high level of speculation in those markets by hedge funds," he said.