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Passport to Profits: Why the Next Investment Windfalls Will Be Found Abroad and How to Grab Your Share

Name: Passport to Profits: Why the Next Investment Windfalls Will Be Found Abroad and How to Grab Your Share
Author: MARK MOBIUS
ISBN: 9781118153840

by MARK MOBIUS

February 2012

Beginner

384 pages

10h 55m

English

Wiley

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Cover
Title
Copyright
Contents
Preface
Acknowledgments
Part I: On the Frontier of Emerging Markets
Chapter 1: Introduction to Emerging Markets
Why Seek New Frontier Markets?Attractive Investment OpportunitiesDo your ResearchWhere Are These New Markets?ArgentinaChilePeruCambodiaVietnamBashkortostan RepublicKazakhstanSloveniaRomaniaLibya
Chapter 2: Hope, Growth, and the Investing Process
FELTPutting on My FELT Hat, Puttin’ on the RitzThe Basket BoomSome StatisticsSo Many Eggs, So Many BasketsA Note on Fund TypesClosed-End FundsOpen-Ended FundsA Few Things you Can DoThe Big FiveTaking the PlungeRisk and RewardBy Way of BackgroundAnd Today . . .The BPWhat I Bring to the PartyThe Crunch MethodMy Mobius TripThe Mobius MethodReality CheckSixth SenseInvestment by AnalogyRisk is RealADRsVolume DiscountGetting De-FleecedTrading RiskWater Water Everywhere, Yet Not a Drop to DrinkAnd Now for the Good NewsIn Bob We TrustOperational RiskLet’s Look on the Bright SideMarket RiskFive-Year PlanThe Importance of Being ContraryFear and GreedTempleton’s LawThe Asian Spin CycleGround ZeroGrowthMass CommunicationsLeapfrogging TechnologyForeign Aid That’s Not a Band-AidThe Market EconomyLower Tariffs, More CompetitionTake a Walk on the Cynical SideReason Regionally as Well as RationallyRegional BenchmarksInterest RatesA Privatization PrimerGetting In on the Ground Floor
Part II: The Boom—Eastern Europe

Chapter 3: Baltic Boom
The Name is Mobius. Mark Mobius.So Why the Baltics?Mobius MapPreliminary AssessmentBoom TownsGateway CountriesOn the GroundRadio, RadioCultural CharacteristicsBeachhead to RussiaHotel as MetaphorSigns of the TimesThe Healthy HeartSurveying the TerritoryThe Phone CompanyStrategic PartnersStrategic InvestorsE.T. Call HomeSizing Up ManagementThe Vision ThingFrom a Bureaucracy into a CompanyAn Excellent ConnectionNAVPlaying Privatization MonopolyPolitics, SchmoliticsFuture ShockCompany AssessmentGoing MobileThe Energy CompanyNumbers RacketWomen’s Lib?Candid AssessmentThe Stock ExchangeThe BankCompany AssessmentRegional AssessmentMarket Metaphors
Chapter 4: All the Riches in Russia
Riddle/Enigma/MysteryTax SurrealismPrivatization, Russian StyleContract KillingThe OligarchyOneximbankConfidence GamesOligarchA New Leaf?Prefer the Preferred?Profit from the SpreadShare Dilution?A New New LeafCheaper by the DozenGround ZeroA Fair ExchangeA Central National Depository RegistrySo Boom or Bust?Some Good NewsCultural UpliftAnd Now for Some Bad NewsThe Second TierSmall is Not Always BeautifulRussia’s Pacific RimA Haven for the Culturally ConfusedThe TV ProducerBack to the MapPublic-Private PartnershipsCorporate CultureSurvival InstinctThe Car CompanyA New LeafSite InspectionMaking MoneyAwesome Social BurdenCompany AssessmentThe Money TreeShare DilutionArkhangelskDostoyevskian DespairSiberiaKrAZA House Deeply DividedKrAZ UpdateFireworks
Part III: The Bust—Asia
Chapter 5: Hong Kong
The Happy HandoverUntil, That is, the Fur FlewForex ForeverSelling yourself ShortThe Global GameSticky Thai RiceZooming InLet’s Get TechnicalThere’s Got to Be a Better WayCurrency RiskPPPInside George Soros’ HeadCurrent Account BalancesPoliticsThe Right StuffThe Only Thing to Fear is Fear ItselfThe Down-and-Dirty DetailsWhen Bad News is Good NewsBottoms UpA Symbol SoiledFinger-PointingOminous AtmosphericsThe Russian TyphoonHunting for Black OctoberPeg o’ My HeartWar of WordsA Debate Finally JoinedMoral HazardFor Richer, for Poorer, in Sickness and in HealthThe Great Man Speaks
Chapter 6: Hong Kong, Part II: “Catching a Falling Knife”
Head and ShouldersCurtainsRisk AnalysisMobius Inc.UpsideDownsideThe Year of the RatWhat They Don’t Teach you at Harvard Business SchoolBargain-HuntingHandover HangoverNumbers RacketSnoopy Dog DogWhere There’s Smoke, There’s FireAftermathHigh FinanceDéjà Flu All Over AgainThe Patron Saint of Hong KongBoning Up on your FundamentalsThe China ConnectionHong Kong’s BurdenRed Chip FeverFor All the Money in ChinaPlaying MonopolyIPO ManiaIPO PrimerPlaying the IPO GameFlying the ConcordConcord First ClassProperty ValuesHighway to HeavenPlaying the China CardBad BeerBody Heat
Chapter 7: Thailand: Ground Subzero
SOSPlaying MonopolyGridlock City Circa 1992Ghost Towns of TomorrowHills Like White ElephantsWhat a Difference a Decade MakesThe Royal Road to RecoveryThe BroomLightening Up, with a Heavy HeartMacro MirageLoss LeadersBuster RabbitSitting on Top of the WorldChapter 11?Panning for Gold in the SewerHigh FinanceGoin’ Bottom-FishingTwilight ZoneForeign InfluenceYou Can’t Take It with youA Free Market DispensesBack to the LandPolitical ReformMy Thai TimeBack to BangkokThai Farmers BankNew Rights IssuesStrategic InvestorsPenthouse ViewWham!Show Me the MoneyWhy Was This Man Smiling?Confidence GamesFirst Bangkok City BankLess than ZeroOkay. You Tell Me: Buy, Sell, or Hold?Follow-UpBangkok BankTea and SympathyAnother Follow-UpFleecing the Foreigners, Part IIPure Export PlaysChicken FeedSiam CementDo the Right Thing
Part IV: Beating the Odds—Latin America
Chapter 8: Is Brazil the Next Domino?
Flying Down to RioReach Out and Touch SomeoneTicket to RideBut for the Grace of God . . .Sausage LinksThe Painted BoxDebtor’s PrisonSoccer StarBossa NovasPrice Comes Before the FallMumblety-PegBig Birds of ParadiseSilence is GoldenPolitician’s ParadiseDismantling the OctopusNot So Fast, BubTruth or ConsequencesThe Privatization TangoUntangling the MazeThe Rumor MillSize MattersEletrobrasNAVTelebrasLooking BackwardBreaking Up is Hard to DoCheaper by the Dozen?Sweet River Valley, Valley So LowSweet River SharesOh Cicero!
Part V: The Final Frontier—Africa
Chapter 9: Nigeria
Jewel in the CrownHey Guys! Business or Pleasure?Con ArtistryWe Flew by NightMoral and/or Ethical InvestingIdi Amin No MoreMoral and Ethical QuandariesContinental DriftHighway from HellMultinational Inc.The Tax Man ComethThe International Packaged Goods CompanySoap OperaDo your DutyThe Multinational Packaged Goods CompanyCountry Assessment
Chapter 10: South Africa
Political FootballThe Strong Man of AfricaReality CheckRisk PremiumRisk PoolDiamonds Are Forever?Political Risk PersonifiedDe Beers Consolidated Mines Ltd.The Diamond ClubTrust BustersPlaying MonopolyDiamonds Are a Girl’s Best FriendBreaking AwayRussian RouletteThe Glittering PipelineTurning Off the TapBlack ChipsBlack Chip, Blue Chip, Red Chip, New ChipA Black-and-Blue ChipA Hero’s WelcomeWater into WineEco-OkayPolifinEngenTongaat-Hulett GroupThe Magnificent SevenAfrica the Beautiful
Conclusion
Author’s Note
Index

Content preview from Passport to Profits: Why the Next Investment Windfalls Will Be Found Abroad and How to Grab Your Share

Contents

Preface

Acknowledgments

Part I: On the Frontier of Emerging Markets

Chapter 1: Introduction to Emerging Markets

Why Seek New Frontier Markets?

Attractive Investment Opportunities

Do your Research

Where Are These New Markets?

Bashkortostan Republic

Chapter 2: Hope, Growth, and the Investing Process

FELT

Putting on My FELT Hat, Puttin’ on the Ritz

The Basket Boom

Some Statistics

So Many Eggs, So Many Baskets

A Note on Fund Types

Closed-End Funds

Open-Ended Funds

A Few Things you Can Do

What I Bring to the Party

Investment by Analogy

Water Water Everywhere, Yet Not a Drop to Drink

And Now for the Good News

In Bob We Trust

Operational Risk

Let’s Look on the Bright Side

Market Risk

Five-Year Plan

The Importance of Being Contrary

Leapfrogging Technology

Foreign Aid That’s Not a Band-Aid

The Market Economy

Lower Tariffs, More Competition

Take a Walk on the Cynical Side

Reason Regionally as Well as Rationally

Regional Benchmarks

Interest Rates

A Privatization Primer

Getting In on the Ground Floor

Part II: The Boom—Eastern Europe

Chapter 3: Baltic Boom

The Name is Mobius. Mark Mobius.

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Passport to Profits: Why the Next Investment Windfalls Will Be Found Abroad and How to Grab Your Share

by MARK MOBIUS

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.