This map shows how some colossal US companies are worth more than the entire stock markets of other countries

Bank of America Merrill Lynch analysts have just published a fantastic map showing which major US listed companies are worth more than entire emerging market stock indices.

Take a look:

BAML map

(BAML)

The authors offer this explanation of the "the journey from hubris to humiliation" that emerging market equities have undergone:

Back in late 2010, when Sepp Blatter announced that Russia & Qatar would follow Brazil as hosts of the FIFA World Cup, both China & India were on course for >10% GDP growth, EM spreads were significantly lower, and the market cap of EM ($3.7 trillion on December 1st 2010) was twice the market cap of US banks, and exceeded the combined market cap of US tech & health care. Today, the market cap of EM equities is the same, while the combined market cap of US tech, health care and banks is over $10 trillion.

While stocks in many advanced economies have surged, the MSCI EM index is still yet to return to its 2010 levels:

MSCI EM

(Investing.com)

We're not sure how Fifa got involved, but it's a great map all the same.

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