Fisher Investments on Emerging Markets

Chapter 1. THE FIVE WS OF EMERGING MARKETS

Comprising 24 countries, 35 percent of the world's landmass, a whopping two-thirds of the world's nearly seven billion people, and almost a third of global output, emerging markets are fertile ground for the global investor.^[6] These distant lands offer some of the most dynamic and unique opportunities—as investments, end markets for corporations seeking growth, or key cogs in the production of the world's goods. These prospects make emerging markets among the fastest growing segments of today's investing world.

Yet for all their allure, many avoid emerging markets out of fear, ignorance, or a belief they are radically different from developed world markets. This book aims to help shed light on these vital regions. To be clear, it won't tell you where to invest. Markets are too dynamic for that. By the time your eyes hit these pages, the market environment will have changed many times over. But we can demystify and take the fear out of investing in far-flung corners of the world, teaching you how to analyze this segment of the investing landscape for yourself.

To do so, you don't need a passport and a stack of plane tickets. See it this way: Many journalists don't write stories about events they've witnessed firsthand. More often than not, reporters uncover the details from others—experts or those who experienced something directly.^[7] Using a variety of viewpoints, data, and internal perspectives developed over the years, we can do the same. ...