Fisher Investments on Emerging Markets (Fisher Investments Press Series) »

Austin B. Fraser is a research analyst at Fisher Investments with a focus on emerging markets and macroeconomic strategy. Prior to joining the firm, he worked at Cambridge Associates in Washington, D.C., as a research associate. He graduated from the University of Michigan, Ann Arbor, with a BA in history. Originally from Detroit, Michigan, he now resides in San Francisco.

The Fisher Investments On series is designed to provide individual investors, aspiring investment professionals, and students the tools necessary to understand and analyze investment opportunities—primarily for investing in global stocks. Each guide is an easily accessible primer to economic sectors, regions, or other components of the global stock market. While this guide specifically focuses on emerging markets, the basic investment methodology is applicable for analyzing any global equity category, regardless of the current macroeconomic environment.

Following a top-down approach to investing, Fisher Investments on Emerging Markets can help you make more informed decisions, specifically within this dynamic category. Opening with an engaging overview of emerging markets, this book then provides a historical perspective of the major emerging market regions, with emphasis on the economic, political, and sentiment drivers that have shaped the investing landscape.

Armed with this essential information, you'll then be introduced to tools and techniques for investing in emerging markets. Fisher Investments on Emerging Markets:

• Covers the types of instruments and strategies emerging markets investors might use and the common challenges they will likely face

• Discusses the development of portfolio drivers, a critical step in determining the areas of the market expected to perform differently than the whole

• Provides a look at today's emerging markets and explores which countries and sectors have the most influence

• Outlines a five-step process to help differentiate emerging markets firms—designed to help you identify ones with the greatest probability of outperforming

Filled with in-depth insights and expert advice, Fisher Investments on Emerging Markets provides a framework for understanding this field and can help you make better investment decisions—now and in the future. With this book as your guide, you can gain a better perspective on emerging markets and discover strategies to help achieve your investing goals.

Ch. 1 The five Ws of emerging markets 3

Ch. 2 Lions, tigers, and dragons, oh my! 15

Ch. 3 Latin America and the vagaries of boom and bust 47

Ch. 4 From the rubble of the Iron Curtain to the legacy of apartheid 77

Ch. 5 From the past to today - how to approach emerging markets 109

Ch. 6 Developing portfolio drivers 131

Ch. 7 Security analysis 165

Ch. 8 Putting it together 181

Notes 201

About the author 213

Index 215