{"product_id":"fisher-investments-on-emerging-markets-isbn-9780470452363","title":"Fisher Investments on Emerging Markets","description":"The fifth installment of the \u003ci\u003eFisher Investments On\u003c\/i\u003e series is a comprehensive guide to understanding and analyzing investment opportunities within emerging markets. Growing in relative importance in recent years, emerging markets offer dynamic and unique opportunities. \u003ci\u003eFisher Investments on Emerging Markets\u003c\/i\u003e can benefit both new and seasoned investors, covering everything from regional basics to country-specific insights to practical investing tactics, including common pitfalls to avoid.  \u003cp\u003eThis book begins with an overview of emerging markets, followed by a historical narrative of the major emerging market regions—with emphasis on the economic, political, and sentiment drivers that help shape the investing landscape.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eDiscusses regional, and even country-specific, drivers.\u003c\/li\u003e \u003cli\u003eExamines the major regions, including Russia, China, Latin America, and Asia.\u003c\/li\u003e \u003cli\u003eAddresses the challenges unique to emerging and developing regions, and some common pitfalls to avoid.\u003c\/li\u003e \u003cli\u003eDelves into top-down investment methodology as well as individual security analysis.\u003c\/li\u003e \u003cli\u003eOutlines a five-step process to help differentiate firms in emerging markets—designed to help you identify ones with the greatest probability of outperforming\u003c\/li\u003e \u003cli\u003eProvides investment strategies for a variety of market environments\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eFilled with in-depth insights and expert advice, \u003ci\u003eFisher Investments on Emerging Markets\u003c\/i\u003e provides a framework for understanding emerging markets. With this book as your guide, you can quickly gain a global perspective on emerging markets and discover strategies to help achieve your investing goals.\u003c\/p\u003e \u003cp\u003eForeword ix\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003e Acknowledgments xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Going Backward to Move Forward 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 The Five WS of Emerging Markets 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWho or What? 4\u003c\/p\u003e \u003cp\u003eWhere? 7\u003c\/p\u003e \u003cp\u003eWhen? 9\u003c\/p\u003e \u003cp\u003eThe Most Important Question—Why? 12\u003c\/p\u003e \u003cp\u003eBut How? 13\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Lions, Tigers, and Dragons, Oh My! 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRoar of the Tigers 16\u003c\/p\u003e \u003cp\u003eTo the Brink of Extinction—The Asian Financial Crisis 22\u003c\/p\u003e \u003cp\u003eCrisis Causes 26\u003c\/p\u003e \u003cp\u003eLessons and Legacies 33\u003c\/p\u003e \u003cp\u003eThe Dragon Unleashed 36\u003c\/p\u003e \u003cp\u003eThe History of China’s Stock Market—A Lesson in Supply and Demand 39\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Latin America and the Vagaries of Boom and Bust 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Political Economy of Latin America 48\u003c\/p\u003e \u003cp\u003eTill Debt Do Us Part—The 1982 Crisis 53\u003c\/p\u003e \u003cp\u003eThe Tequila Crisis 67\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 From the Rubble of the Iron Curtain to the Legacy of Apartheid 77\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Rubble of the Iron Curtain 78\u003c\/p\u003e \u003cp\u003eThe Wild, Wild East 81\u003c\/p\u003e \u003cp\u003eCrisis Strikes Again—The 1998 Ruble Crisis 88\u003c\/p\u003e \u003cp\u003ePutin and the Modern Soviet State 91\u003c\/p\u003e \u003cp\u003eThe Legacy of Apartheid—Race and Markets 96\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Developing an Emerging Markets Strategy 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 From the Past to Today—How to Approach Emerging Markets 109\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrelude to a Portfolio: Choosing a Benchmark 110\u003c\/p\u003e \u003cp\u003eGetting Started: Emerging Markets Today 114\u003c\/p\u003e \u003cp\u003eThe Best Way to Think about Emerging Markets 120\u003c\/p\u003e \u003cp\u003ePutting It Together: The Top-Down Method 122\u003c\/p\u003e \u003cp\u003eTop-Down Deconstructed 126\u003c\/p\u003e \u003cp\u003eExamples of Quantitative Factor Screenings 127\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Developing Portfolio Drivers 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Importance of Portfolio Drivers in Emerging Markets 131\u003c\/p\u003e \u003cp\u003eThe Proper Perspective 134\u003c\/p\u003e \u003cp\u003eIdentifying Portfolio Drivers 136\u003c\/p\u003e \u003cp\u003eTranslating Drivers Into Portfolio Allocation Decisions 145\u003c\/p\u003e \u003cp\u003eAn Illustration in Analyzing Portfolio Drivers—Brazil During the 2003–2007 Bull Market 146\u003c\/p\u003e \u003cp\u003eWhat Can Drive Emerging Markets as a Category 154\u003c\/p\u003e \u003cp\u003eGetting Information to Develop Drivers 160\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Security Analysis 165\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMake Your Selection 166\u003c\/p\u003e \u003cp\u003eA Five-Step Process 167\u003c\/p\u003e \u003cp\u003eOther Important Questions to Ask 175\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Putting It Together 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTwo Initial Considerations 181\u003c\/p\u003e \u003cp\u003eInstruments for Investing in Emerging Markets 183\u003c\/p\u003e \u003cp\u003eCommon Challenges and Risks 193\u003c\/p\u003e \u003cp\u003eThe Future—Frontier Markets 198\u003c\/p\u003e \u003cp\u003eNotes 201\u003c\/p\u003e \u003cp\u003eAbout the Author 213\u003c\/p\u003e \u003cp\u003eIndex 215\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eAUSTIN B. FRASER\u003c\/b\u003e 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.    \u003c\/p\u003e\u003cp\u003e\u003cb\u003eT\u003c\/b\u003ehe \u003ci\u003eFisher Investments On \u003c\/i\u003eseries 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.  \u003c\/p\u003e\u003cp\u003eFollowing 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.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eArmed with this essential information, you'll then be introduced to tools and techniques for investing in emerging markets.\u003c\/b\u003e \u003ci\u003eFisher Investments on Emerging Markets\u003c\/i\u003e\u003cb\u003e:\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e \u003cp\u003e\t\u003c\/p\u003e\n\u003cli\u003eCovers the types of instruments and strategies emerging markets investors might use and the common challenges they will likely face\u003c\/li\u003e  \u003cp\u003e\t\u003c\/p\u003e\n\u003cli\u003eDiscusses the development of portfolio drivers, a critical step in determining the areas of the market expected to perform differently than the whole\u003c\/li\u003e  \u003cp\u003e\t\u003c\/p\u003e\n\u003cli\u003eProvides a look at today's emerging markets and explores which countries and sectors have the most influence\u003c\/li\u003e  \u003cp\u003e\t\u003c\/p\u003e\n\u003cli\u003eOutlines a five-step process to help differentiate emerging markets firms—designed to help you identify ones with the greatest probability of outperforming\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eFilled 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.     \u003c\/p\u003e\u003cp\u003e\u003csmall\u003eFISHER INVESTMENTS\u003c\/small\u003e ™ on EMERGING MARKETS \u003c\/p\u003e\u003cp\u003eComprising 60 percent of the world's nearly seven billion people and almost a third of global output, emerging markets are fertile ground for the global investor. Yet for all their allure, many avoid emerging markets out of fear, ignorance, or a belief that they are radically different from developed world markets.  \u003c\/p\u003e\u003cp\u003eThe sixth installment of the Fisher Investments On series is an all-encompassing guide to emerging markets. It skillfully demystifies investing in far-flung corners of the world and teaches you how to effectively analyze this segment of the investing landscape for yourself. Opening with an engaging overview of emerging markets, this book then provides historical perspective on the major emerging market regions —outlining the various social, economic, and political events that have shaped the investing landscape.  \u003c\/p\u003e\u003cp\u003eNext, it thoroughly discusses how you can identify and develop portfolio drivers and provides an introduction to security analysis. With this essential information in hand, the book then details several instruments and strategies available to investors.  \u003c\/p\u003e\u003cp\u003eYou don't have to be a professional to successfully invest in emerging markets—but you do need to be prepared. Fisher Investments on Emerging Markets provides the framework that can help you to begin investing more globally.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eAbout Fisher Investments Press\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eFisher Investments Press brings the research, analysis, and market intelligence of Fisher Investments' research team, headed by CEO and New York Times bestselling author Ken Fisher, to all investors. The Press covers a range of investing and market-related topics for a wide audience—from novices to enthusiasts to professionals.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989217394917,"sku":"NP9780470452363","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470452363.jpg?v=1761783248","url":"https:\/\/k12savings.com\/products\/fisher-investments-on-emerging-markets-isbn-9780470452363","provider":"K12savings","version":"1.0","type":"link"}