South Korea Index (EWY)

[ChromePony]

I got into a little chat last night with a buddy of mine who's been working for an investment firm this summer and since Ive been looking for somewhere to stick some of my poker money I thought Id solicit some advice.

He told me that this South Korea Index is way undervalued right now and might be a good pick for something with a little more risk/reward than your basic S&P deal. Im definitely planning to put a good percentage of my money into S&P but Im interested in some more diversity as well. So, anybody out there have anything to say about this one?

Quick background on this guy, he's only an undergrad senior to be (like me), but hes also a very smart guy, econ/stats major at U Chicago, and I feel like he knows what hes talking about. Anyway, just curious...