From Forbes on Fox 1/22/2005

Makers and Breakers

• iShares MSCI Emerging Markets Index (EEM)

Phil DeMuth, president of Conservative Wealth Management: MAKER

The emerging markets are the developed markets of tomorrow. If you could have gone back to America in the beginning of the 19th century and put a dollar in our market you would have $7.5 million today. That's a pretty good return.

David Asman: You think it can go up about 20 percent to $235. (Friday's close: $193.50)

Elizabeth MacDonald: MAKER

Sounds really expensive. I like this stock. It's got a great presence in Asia. The thing of it is, emerging markets are notoriously volatile. So keep it at about 5-10 percent of overall assets.

Jim Michaels: BREAKER

As far as investing in America when it was an emerging market, Europeans got hosed in the American market. They lost huge amounts of money. Emerging markets are very dangerous and difficult places to invest.

Phil Demuth: Emerging markets have a very low correlation with the performance of the U.S. market. So if you own both, what happens is that you get a very smooth ride going up.

• Energy Select Sector SPDR (XLE)

Phil Demuth: MAKER

The energy global story is one of supply and demand. They haven't found a new oil field in 35 years -- okay they have found “one”. On the demand side, you've got China. They've got the best road system in the world. I don't think they're planning to use it for rickshaws.

David Asman: $44 is your 12-month target price. (Friday's close: $36.40)

Jim Michaels: MAKER

If you don't have energy stocks, this is not a bad way to play it.

Elizabeth MacDonald: MAKER

Not all oil stocks are created equal, but this is a great way to play the entire industry.