Over three and five year periods, the annualized price change chart for emerging market stock indexes shows a lot of red. But there has been a recovery in the last year. These stocks are a bargain now with great potential, says Krishna Memani, Chief Investment Officer at Oppenheimer Funds. “From a long-term perspective, emerging markets are going to be the primary source of global growth for the future. Plus they happen to be very cheap now,” Memani said. I have 10% of my stock portfolio in emerging markets and recommend that all of our clients give this sector consideration. However, I am very cautious about China.