Jul. 4--If Wall Street's collapse threw a monkey wrench into your retirement plan, then the repair job might call for a BRIC.

In this case, BRIC stands for Brazil, Russia, India and China. Those four countries have become the hot topic among equity investors.

The stock markets in those countries lead equity exchanges collectively called emerging markets. This is where money managers say they see the best opportunities, given the outlook for a weak U.S. economic recovery over the second half of this year.

"Where's the growth going to be? It's going to be in emerging market countries," said Kent Gasaway, a portfolio manager for the Buffalo Funds. "People will figure it out. They're going to need more exposure there to get any growth in their portfolios."

As stocks worldwide have begun to recover from last year's drubbings, emerging markets have outpaced their more mature brethren in the United States and Western Europe.

That's made them popular with investors. Even U.S. stock funds with leeway to invest elsewhere have dabbled in BRIC-based stocks.

The faster-growing emerging economies also have attracted Western companies, which means U.S. and European stocks also carry a bit of BRIC exposure.

"We've been gradually increasing our exposure there," said Stacey Schreft, director of investment strategy for the Mutual Fund Store in Overland Park. "But we're taking into consideration that we've seen a rise in exposure in many of our funds in other categories."

A ton of BRIC

America's stock market has enjoyed a rebound from last year's debacle. Markets do bounce.

From here, however, U.S. investors may see a tougher time.

Consumers are stretched too thin and unemployment too widespread to let Gasaway get excited about a U.S. economic recovery. That's why he's looking for international revenues at any company he buys.

"In a nutshell, if you're going to invest in the U.S. market, you'd better be tied to a pretty good stock picker that knows where to find pockets of growth in a very slow recovery environment, and that has good international expertise, and can find companies that can hitch their wagons to overseas markets," Gasaway said. "That's the forecast for the next couple of years."

In Brazil, Russia, India and China, however, the outlook is stronger.

Their growth will slow because of a weak U.S. market. But supporters expect the BRIC countries to enjoy strong markets at home as budding consumers spread their wings and middle classes develop.