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Frontier: Exploring the Top Ten Emerging Markets of Tomorrow

Frontier: Exploring the Top Ten Emerging Markets of Tomorrow

Gavin Serkin

ISBN: 978-1-118-82372-9

Feb 2015

424 pages

$32.99

Description

 Get ahead of emerging markets with top-performer picks for up-and-comers

Frontier helps investors successfully navigate markets that are yet to “emerge,” with expert advice on spotting opportunities and minimising risks. With first-hand insights into frontier markets as we travel with big-name fund managers from Mark Mobius to Morgan Stanley, this practical guide ranks countries, stocks and bonds on a five- to ten-year horizon to steer investors toward the most promising destinations. Written in a compelling and accessible travelogue narrative, each chapter covers a specific country, providing invaluable market analysis and a deep understanding of the political, economic, and social background of those most likely to outperform. The key focus is on fresh ideas, based on the assessments from top performing money managers when meeting challenges, hostilities or adversity, and observations after interviewing high-level government officials and executives.

With advanced economies shackled by debt and sluggish growth, investors are increasingly turning to emerging markets for better returns. Yet the money managers who came out on top in China, India, and Brazil are now focusing their attention on markets that have not yet emerged. This book applies the perspective of ten of the most successful fund managers in their field, providing an unparalleled guide to assessing investment potential in places better known for conflict, poverty and corruption.

· Discover which markets have the best prospects, and which are potential disasters

· Analyse individual markets by metrics including macro data, global relative value comparisons of stocks and bonds, buy/ sell triggers, and more

· Learn which industries, stocks and bonds should be considered in each market

· Examine each country through real-life on-the-ground assessment of corruption, conflict and other risks as well as inspirational breakthroughs that signal opportunities

This is a practical manual for all investors - whether students or professionals - wanting to get to know the most promising new markets while avoiding the pitfalls. A must-read for corporate executives seeking global capital, Frontier provides a better understanding of the changing international investment dynamic.

 

Robin Wigglesworth, FT:

“Invaluable.”

 Mark Mobius, Templeton:

“I love it! Beautiful descriptive writing.”

 Aliko Dangote, Wealthiest African:

“Captivating tales, masterly woven.”

About the Author xi

Disclaimer xiii

Prologue xv

Introduction to Frontier by Mark Mobius 1

CHAPTER 1 Kenya 11

I Mamboz 12

II Can’t Believe You’re Going to Kenya 17

III Sleeping Serpent 19

IV Prowling Leopard 29

V Clinker 39

CHAPTER 2 Myanmar 45

I Halcyon Days 46

II Uncle 50

III Yoma 55

IV Son 61

V Gaung Baung 66

VI Monk of Mandalay 73

CHAPTER 3 Romania 79

I Ro-man-ee-a! 80

II Systematization 85

III Brown Envelopes 90

IV Mega Mall 94

V Drac-ul-a 99

VI Crossroads 106

CHAPTER 4 Argentina 111

I Arbolitos 112

II Del Fin Del Mundo 118

III Vaca Muerta 126

IV Adelante 133

CHAPTER 5 Vietnam 137

I Confucius 138

II Aristotle 144

III Panacea 152

IV Equitization 159

V Automata 164

VI From Noodles 167

CHAPTER 6 Nigeria 169

I Eko Beach 170

II Crude Politics 178

II Sugar King 192

CHAPTER 7 Egypt 199

I Revolution II 200

II Cleopatra 204

III Sahl Hasheesh 211

IV Audacity of Hope 214

V Zahma! 223

CHAPTER 8 Saudi Arabia 229

I Virtue and Vice 230

II Socialist Monarchy 239

III Desert Farming 244

IV Opening Bell 248

V White Balloons 252

CHAPTER 9 Sri Lanka 255

I Family Economy 256

II China City 262

III Pawn 267

IV Kilinochchi 274

V Rising Sun 287

CHAPTER 10 Ghana 291

I Goatanomics 292

II Highlife and Death 299

III Gold Diggers 304

IV Cassava King 310

V Egg and Stone 312

Conclusion – Journey’s End 317

Acknowledgments 385

Index 389