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Economic Growth Does Not Equal Market Growth

Substantial GDP growth in the emerging markets will not necessarily translate into outperforming capital markets, says Fran Kinniry of Vanguard's Investment Strategy Group.

Christine Benz: Hi, I'm Christine Benz from Emerging-market stocks have been on a tear over the past decade with annualized returns averaging about 10%. But are those returns sustainable?

Here to discuss that question with me is Fran Kinniry. He is principal in Vanguard's Investment Strategy Group.