YTD Return: -5%
Investor: Jon Markman
Fomento Economico Mexicano (FMX) was another emerging markets pick that fell flat in our Best Stocks for 2013 contest.
Sure, Jon Markman’s pick for the best stock of 2013 was on pace for the silver medal back in March. But since then, FMX stock has been in a pretty steady downward climb and is 5% in the red as of the start of December.
While FMX stock sure isn’t one of the best stocks of 2013, it’s been pretty stellar in recent years. In fact, shares of FMX have soared almost 250% over the past five years — more than double the broader market — even factoring in its recent weakness.
That’s not much solace for our Best Stocks for 2013 contest, but it could be proof that the long-term thesis on FMX stock still is solid … and that shares just needed to cool off after a killer multiyear run.