Thornburg Investment Management Portfolio Manager Josh Rubin in Business Insider

A US portfolio manager at a $49 billion investment firm shares 5 foreign stocks with immense upside — and explains how investors can use emerging markets to hedge their losses in developed-market companies

When developed markets zig, emerging markets zag, says Josh Rubin, portfolio manager and managing director at Thornburg Investment Management, a firm that manages over $49 billion in assets.

Rubin noted that after the tech bubble, emerging markets substantially outperformed the US and developed markets from 2002 through 2007.

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