It’s the perfect time to make money from some of the world’s fastest-growing markets as long as you invest in them the right way.

Like most investors, Harvard University’s billion-dollar endowment fund took a beating during the global financial crisis. Many investors cashed out, opting for the safety of the sidelines. But Harvard called a new play. During the first quarter, Harvard engineered a dramatic shift in its endowment-fund investment strategy – boosting its stakes in some of the most prominent emerging market exchange traded funds (ETFs).

From the tidal wave of e-mails and comments I have received from numerous different sources I am under the impression that most investors view the recent rally in the world’s stock markets as a bear market rally. I suppose we would need to define a bear market rally as a rally that fails to make a new all-time high (for the S&P 500, above the 1576 reached in October 2007) and is also followed by a new low for this cycle (below 666 for the S&P 500 reached in early March 2009).

As you scour the globe for potential post-financial-crisis profit plays, don’t overlook Taiwan. Stock markets around the world have already started to rebound with joy as investors begin to believe that that the unpleasant global recession is finally nearing its bottom.

Capital flows to emerging markets are likely to plunge this year. And countries with low domestic savings or wide external deficits will suffer badly. Martin Hutchinson picks the five best emerging market etfs to hold in 2009.

Editor’s Note: ETFs are revolutionizing financial markets, according to Money Morning’s Horacio Marquez. They allow investors to follow global trends without having to select individual stocks. They provide easy access to otherwise impossible-to-reach profit plays. And, by grouping stocks in a fund, they significantly reduce systematic risk in the market. For these reasons, Horacio says ETFs are the best way for investors to play today’s global trends…

Editor’s Note: Between 1987 and 1990 Taiwan’s stock market boomed. Stocks gained 991%. The Taiwanese currency rose another 40%. Foreign investors would have made 14 times their money during this time. Tom Dyson says Taiwan is set for another huge rally. So does Jim Rogers. We’re all ears.

With a newly elected government Taiwan is set to reopen a gateway of opportunity. President Ma Ying-jeou, who takes leadership on May 20th, has set forth ambitious plans to raise the growth rate and ramp up employment.