In fact, the head of market research at Roubini Global Economics, Arnab Das, expressed that emerging-market assets are likely to extend their biggest rally in a decade. Das believes that while occasional corrections may occur, a surge in emerging-market asset prices will have many legs because of the world's willingness to borrow U.S. dollars to buy stocks, commodities and foreign currencies.
Rogers agrees. He too sees that the dollar's decline is helping to fuel the worldwide purchase of stocks and commodities. He just doesn't think high prices have anything to do with "bubbles."
So whether you follow Jim Rogers, Nouriel Roubini or neither one of them, which ETFs might benefit from their thinking? Here are a few ideas:
1. If you believe that investors will keep borrowing U.S. dollars to purchase higher-yielding currencies in the emerging market world, there's the WisdomTree Emerging Currency Fund (CEW). There's also the developed world version of the carry trade in the PowerShares G-10 Currency Harvest Fund (DBV). At the present time, both benefit from a weakening U.S. dollar.2. Commodities are priced in U.S. dollars. All other factors remaining equal (e.g., supply, demand, speculation, etc.), the lower the dollar, the more that a given commodity will cost. If you want to benefit from rising commodity prices, there's the Elements Rogers International Commodity ETN (RJI). There's also the GreenHaven Continuous Commodity Index Fund (GCC). 3. Finally, R & R don't seem to have any dispute about emerging stocks going higher. The dispute seems to be in the nature of bubbles, the fundamentals behind asset price justification and the likelihood or non-likelihood of an ugly ending. For now, however, they're both on board for China (FXI) and Singapore (EWS) as well as broad-based exposure in Vanguard Emerging Markets (VWO).