The Little Book of Emerging Markets: How To Make Money in the World's Fastest Growing Markets (Little Books. Big Profits)
Format: PDF / Kindle (mobi) / ePub
The information you need to invest in emerging markets, in one Little Book
The world's economies are in a state of flux. The traditional dominance of the G7 countries is being challenged by emerging market nations like Brazil and India, and while investment opportunities in these countries abound, the risks can be extremely high. In this Little Book, Mark Mobius, an internationally-renowned expert on emerging market funds, explains the ins and outs of emerging market investment, providing practical guidance on picking industries and companies likely to win, and explaining why policies and regulations matter as much as balance sheets, how to recognize global contenders, techniques for managing risk, and how to get out at the right time.
The emerging markets are expected to be a key driver of future global economic growth, and with The Little Book of Emerging Markets in hand, you have everything you need to take full advantage of these incredible opportunities.
* Explains how to pick the industries and companies mostly likely to boom, why policies and regulation are key to making intelligent investment decisions, how to recognize genuine opportunities, and much more
* Includes invaluable techniques for managing your risk
* Shows you how to get your money in and out of emerging markets without being burned
The Little Book of Emerging Markets is the perfect little guide to the world's most exciting investment opportunities.
Seventeen Overcoming Irrational Market Panic: Learning to Be Objective Field Note: Brazil 181 191 Chapter Eighteen ftoc.indd x The World Belongs to Optimists: Golden Investment Attributes and Rules 197 Acknowledgments 205 About the Author 207 20/03/12 7:53 AM Introduction ONE OF THE MOST frequent questions I get asked is: “When’s the best time to invest?” The answer is: The best time to invest is when you have money. The reality is that market timing is impossible, and since
securities as other people, you’ll get the same results as other people.” —Sir John Templeton when others are greedily buying requires the greatest fortitude but pays the greatest rewards.” Now, the emphasis here is on the value placed on an asset by sentiment, as opposed to pure, dispassionate logic. Despondency and greed are emotions. They aren’t about thinking, but feeling. You may feel in your gut that a stock is going to go up, but you’re better off testing that hunch against the hard-core
BIG PICTURE contradicts the small picture. I can still recall that when I traveled to Russia looking for investments in the early 1990s, the big picture was that the place was dirty, low-down, and dishonest. But the small picture presented isolated pockets of real opportunity. We’re talking macro versus micro views here. Although Russia’s political, economic, social, and c11.indd 113 20/03/12 7:49 AM [ 11 4 ] THE LITTLE BOOK OF E M E R G I N G M A R K E TS By correcting the gap between
struggling to keep up with orders, because it had enjoyed a solid share of the Russian domestic market. But no longer. With fierce competition from cheaper Asian imports (many originating in countries located not far from Vladivostok by plane), this company’s electronics business was distinctly endangered. Industry Characteristics Aren’t the Be-All, End-All But the electronic components manufacturer’s attitude was positive. The company had established ties with U.S., South Korean, and European
exporters. The shares should in time reflect the gathering strength of the export-driven recovery. But we were also on the lookout for export plays that were not quite so painfully obvious as electronics. Looking for Patterns One key point to always keep in the forefront of your mind while suffering through the bust end of the boom-and-bust business cycle is that the first country to get hit, and hit hard, is typically the first one to recover. The first country to get hit, and hit hard, is