Emerging Markets and International Investments - Emerging markets and international investments are experiencing renewed interest after a decade of underperformance, driven by a weaker dollar, easing Federal Reserve policies, and a rebound in China [2][3][4] - Advisors had a roughly 2-3% exposure to emerging markets, significantly underweight compared to the MSCI recommendation of approximately 12% [3] - A counter-trend rally in the dollar and ongoing uncertainty around tariff negotiations could derail investor enthusiasm for international markets [5][6] - Investors are adopting more creative strategies in approaching emerging markets, moving away from cap-weighted approaches towards active or factor-based strategies [7] - Greece and Argentina are highlighted as specific countries with significant value opportunities due to political and fiscal turnarounds [8][9][10] - Greece's market trades just above book value after running up about 70% year-to-date, with a 6% dividend yield and 10% earnings growth [9] - Argentina's market cap to GDP is at 11%, compared to 38% for Brazil, 45-47% for Chile, and close to 200% for the US [13][14] Energy Sector and Infrastructure - Investors are shifting from traditional energy ETFs like XLE, which experienced over 7 billion USD in net outflows year-to-date and over 13 billion USD in net outflows over the past three years, towards energy infrastructure [22] - Energy infrastructure strategies, including AMLP, have seen 16 billion USD in net inflows year-to-date, with AMLP alone receiving 950 million USD in net inflows in 2025 [23][24] - The utility sector, represented by XLU, has seen 27 billion USD in net inflows year-to-date [26] - The US needs to produce about 45% more electricity than it produces today by 2040 after almost two decades of stagnant demand [28]