In Monday's Wall Street Journal Fund Track, Dominic Elliott and Elizabeth Pfeuti zero in on the record surge of money flowing into emerging market stocks amid strategists' concerns of a bubble. Elliott and Pfeuti cited data from EPFR Global, which show that global investors sunk $35.5 billion into emerging-stock funds in the first half of the year. Meanwhile, investors yanked $61.1 billion from developed-stock market funds.

French bank Société Générale issued a warning for the second time in nearly 15 years over the robust performance of emerging-market stocks. According to the bank, the last time the valuation measure stood at a premium over the developed world was from mid-2006 to mid-2007. Emerging-market equities then fell 67 percent over a 12-month period until November 2008.

Monday's column quoted Jim O'Neill, Goldman Sachs' chief economist. 

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