Investing in Emerging Markets: The BRIC Economies and Beyond [NOOK Book]

Overview

"This book offers investors a valuable introduction to an asset class that has grabbed investors' attention in recent years. Yet emerging markets, by their very nature, are not without risks. Marr and Reynard do not gloss over the potential pitfalls but present a clear-eyed and balanced appraisal of the different opportunities."
Paul Farrow, Personal Finance Editor, The Telegraph Media Group

"For those who feel they've left it late on emerging markets, this book will revive your investment spirits. It shows we ...

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Investing in Emerging Markets: The BRIC Economies and Beyond

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Overview

"This book offers investors a valuable introduction to an asset class that has grabbed investors' attention in recent years. Yet emerging markets, by their very nature, are not without risks. Marr and Reynard do not gloss over the potential pitfalls but present a clear-eyed and balanced appraisal of the different opportunities."
Paul Farrow, Personal Finance Editor, The Telegraph Media Group

"For those who feel they've left it late on emerging markets, this book will revive your investment spirits. It shows we are witnessing the last great industrial revolution. Marr and Reynard's explanations of the investment opportunity – the cons as well as the pros – make this a must-read for investors. Not only are the BRIC economies fully analyzed, but the new opportunities in frontier markets too. If you want to understand the profound economic changes going on in the world today, read it and buy copies for your children and grandchildren – for it is they who will see the reality of this massive shift in economic power."
Mark Dampier, Head of Research, Hargreaves Lansdown

"There is no doubt about the potential returns to be made from investing in emerging markets but it comes with some risk, so a book like this is a very timely addition to investors' knowledge – particularly as it is written by two of the best investment journalists in this country."
Lawrence Gosling, Editorial Director, Investment Week

"Anyone who has money in emerging markets or is thinking about investing must read this book. Marr and Reynard gain access to some of the industry's best minds on emerging markets, but don't just get swept away with the euphoria and excitement – they have produced a measured and perfectly balanced guide. The issues are presented and explained in a clear and entertaining way; the conclusions are simple and unambiguous. They dare to ask whether this time 'it's different' – whether emerging markets will race ahead of Western markets. You will know the answer once you've read this book."
Andrew Oxlade, Editor, thisismoney.co.uk

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Product Details

  • ISBN-13: 9780470977392
  • Publisher: Wiley
  • Publication date: 9/24/2010
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 256
  • Product dimensions: 5.98 (w) x 9.02 (h) x 0.98 (d)
  • File size: 354 KB

Meet the Author

Julian Marr is a freelance investment journalist and weekly columnist for a number of financial publications and websites. He has also held senior positions with a range of specialist and personal finance titles, including editor of Bloomberg Money and editorial director of Investment Week. He began his career as a solicitor in the City but that really was a long time ago.

Cherry Reynard is an award-winning freelance journalist. She has written for a broad range of national, consumer and specialist financial media, including The Telegraph, The Independent, What Investment, Morningstar and Institutional Investor. She began her career as an accountant with PricewaterhouseCoopers and has also worked for JP Morgan.

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Table of Contents

Acknowledgements.

1 An Introduction to Emerging Markets.

1.1 Introduction.

1.2 What are Emerging Markets?

1.3 A Brief History of Emerging Markets.

1.4 A Tale of Two Decades.

1.5 Decoupling and Globalization.

1.6 After the Storm.

1.7 So Far, So Good.

1.8 Interaction Between Emerging Markets.

1.9 The Ethical Dimension.

1.10 Conclusion.

2 The Investment Case for Emerging Markets – A Balanced View.

2.1 Introduction.

2.2 Why Invest in Emerging Markets?

2.3 Capturing the Opportunity.

2.4 Demographics and Consumption.

2.5 Infrastructure.

2.6 Financial Services.

2.7 Valuations, Earnings and Return on Equity.

2.8 Some Technical Considerations.

2.9 Risk.

2.10 Matters of Trust.

2.11 Corporate Governance.

2.12 Hell is Other People.

2.13 Building Emerging Markets into a Balanced Portfolio.

2.14 How to Invest.

2.15 Bonds.

2.16 Decisions, Decisions.

2.17 Conclusion.

3 New Schools of Thought – Hype or Reality?

3.1 Introduction.

3.2 Argument 1: Decoupling.

3.3 Argument 2: The Commodities Supercycle.

3.4 Argument 3: Sovereign Wealth Funds Will Take Over the World.

3.5 Argument 4: The East is in the Ascendancy While the West is in Decline.

3.6 Argument 5: The Success of Emerging Markets is Assured.

3.7 Argument 6: EmergingMarkets are Far HigherRisk than Developed Economies.

3.8 Conclusion.

4 The "BRIC" Economies.

4.1 Introduction.

4.2 Overview.

4.3 China.

4.3.1 A Brief Economic History.

4.3.2 The Investment Case for China.

4.3.3 Industrialization and Infrastructure.

4.3.4 Country-specific Risks.

4.3.5 China’s Stock Market.

4.3.6 Conclusion.

4.4 India.

4.4.1 A Brief Economic History.

4.4.2 The Investment Case for India.

4.4.3 Infrastructure and Outsourcing.

4.4.4 Country-specific Risks.

4.4.5 India’s Stock Market.

4.4.6 Conclusion.

4.5 Russia.

4.5.1 A Brief Economic History.

4.5.2 The Investment Case for Russia.

4.5.3 Consumer Demand.

4.5.4 Country-specific Risks.

4.5.5 Russia’s Stock Market.

4.5.6 Conclusion.

4.6 Brazil.

4.6.1 A Brief Economic History.

4.6.2 The Investment Case for Brazil.

4.6.3 Post-hyperinflation.

4.6.4 Consumer Demand.

4.6.5 Country-specific Risks.

4.6.6 Brazil’s Stock Market.

4.6.7 Conclusion.

5 The "Emerged" Emerging Markets.

5.1 Introduction.

5.2 Overview.

5.3 Hong Kong – a Brief Economic History.

5.3.1 The Investment Case for Hong Kong.

5.4 Singapore – a Brief Economic History.

5.4.1 The Investment Case for Singapore.

5.5 South Korea – a Brief Economic History.

5.5.1 The Investment Case for South Korea.

5.6 Taiwan.

5.7 Investing in the Region.

5.8 Conclusion.

6 The Rest of Asia.

6.1 Introduction.

6.2 Overview.

6.3 Indonesia.

6.4 Malaysia.

6.5 The Philippines.

6.6 Thailand.

6.7 Vietnam.

6.8 Investing in the region.

6.9 Conclusion.

7 The Rest of Emerging Europe.

7.1 Introduction.

7.2 Overview.

7.3 A Brief History of Emerging Europe.

7.4 Region-specific Risks.

7.5 The Investment Case for Poland.

7.6 The Czech Republic and Hungary.

7.7 The Baltic States.

7.8 The Balkans.

7.9 Investing in the Region.

7.10 Conclusion.

8 The Rest of Latin America.

8.1 Introduction.

8.2 Overview.

8.3 A Brief Economic History of the Region.

8.4 Mexico – a Brief Economic History.

8.4.1 The Investment Case for Mexico.

8.5 Argentina – a Brief Economic History.

8.5.1 The Investment Case for Argentina.

8.6 Chile – a Brief Economic History.

8.6.1 The Investment Case for Chile.

8.7 Peru and Colombia.

8.8 Investing in the Region.

8.9 Conclusion.

9 Emerging Markets – The Final Frontiers.

9.1 Introduction.

9.2 Overview.

9.3 The Middle East.

9.4 Africa.

9.5 Investing in Frontier Markets.

9.6 Conclusion.

10 2020 Vision – The New Economic Order?

Index.

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