Global bargain hunting the investor's guide to profits in emerging markets
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| Format: | Buch |
| Sprache: | English |
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New York
Simon & Schuster
1998
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| 245 | 1 | 0 | |a Global bargain hunting |b the investor's guide to profits in emerging markets |c Burton G. Malkiel and J.P. Mei |
| 264 | 1 | |a New York |b Simon & Schuster |c 1998 | |
| 300 | |a 239 S. |b Ill., graph. Darst. |c 25 cm | ||
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| 650 | 0 | |a Investments, Foreign / z / Developing countries | |
| 650 | 0 | |a Securities / z / Developing countries | |
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Datensatz im Suchindex
| _version_ | 1819615116495159296 |
|---|---|
| adam_text | Contents
#
Preface 9
Introduction to the Penguin Edition 13
PART I: THE RICHES TO BE REAPED
Chapter One:
Investment Opportunities Flourish Outside the Developed World
21
Experience from Recent Investors 22
Emerging Markets Around the World 26
Four Tigers: Hong Kong, South Korea, Singapore,
and Taiwan 26
Three Tiger Cubs: Malaysia, Indonesia, and Thailand 29
One Dragon: China 31
One Elephant: India 35
The Flamingos: Latin America 36
And All the Rest: Eastern Europe and Africa 37
Consumer Markets in Emerging Nations 38
Chapter Two:
The Price Is Right on the Other Side
42
Stocks in Emerging Markets Are Bargains 43
The Home-Country Bias and the Likely Future
Flows of Funds into Emerging Markets 49
Four Fundamental Reasons Why Rapid Growth
Will Continue 50
Economic Freedom Is Everywhere 51
The People Are Smart and Thrifty 53
High Technology Has Already Arrived 57
The Financial Undergrowth Is Impressive 58
Could We Be Wrong? 59
Parti Highlights 61
PART II: THE DANGERS TO BE AVOIDED
Chapter Three:
Political Instability Can Sour Many an Investment Opportunity
67
Playing Russian Investment Roulette 67
Acting on the World Investment Stage 71
Survivorship Bias 72
The Mexican Roller Coaster 74
A Tale of Two Flies 77
Chapter Four:
Lawlessness Makes Emerging Markets a Dangerous Jungle
79
The Pervasiveness of Lawlessness 80
Con Artists Flourish in a World Without Legal Safeguards 83
MMM Meant Triple Misery for Russian Investors 84
Harshad Mehta: The Invisible Hand
in the Indian Stock Market 88
Other Complications of Emerging-Market Investing 92
Chapter Five:
Volatility Guarantees a Bumpy Investment Ride
95
Taiwan Takes Its Ups and Downs 96
Happy Flying Crashes in China 100
The General Evidence on Emerging-Market Volatility 104
What Is a Global Bargain Hunter to Do? 106
Chapter Six:
How Diversification Can Reduce Risk
107
Diversification Provides Protection 108
Diversification in Theory 109
Diversification in Practice 112
The Gains from Global Diversification, 1985-1995 114
Further Gains from Adding Emerging Markets 116
Diversification in the Future 118
Playing the Home Team 120
Part II Highlights 125
PART III: HOW TO INVEST IN EMERGING MARKETS
Chapter Seven:
The Professionally Managed Approach
129
Types of Professionally Managed Funds 130
Paving Full Price and More for Open-End Funds 133
Finding Buried Treasure Among Closed-End Funds 134
Some General Rules for Buyers of Closed-End Funds 138
Choosing Particular Closed-End Funds 143
Taking Risks—and Profits—with Closed-End Funds
Traded Abroad 146
Chapter Eight:
The Indexed, or Computer-Managed, Approach
149
The Case for Indexing 150
Constructing an Index: Some Important Issues 151
Evaluating the Efficiency of Emerging Markets 154
Indexing Wins Again 156
Available Index Instruments 160
The Vanguard Emerging Markets Index Fund 160
Other Index Products: World Equity
Benchmark Securities (WEBS) 162
Chapter Nine:
The Self-Directed Approach: Actively Managing
Your Emerging-Market Portfolio
165
Pitfalls of the Self-Directed Approach 165
Gearing Up 168
Seven Investment Tips 170
Tip 1: Look at Regions, Not Companies 170
Tip 2: Use Price-Earnings Ratios
and Dividend Yields to Find Investment Bargains 173
Tip 3: Overweight Markets
with Low Price-to-Book-Value Ratios 178
Tip 4: Watch Out for False Bargains 178
Tip 5: Buy Stocks in Countries Where
Political Risk Is Subsiding 179
Tip 6: Trade as Little as Possible 180
Tip 7: Prune Your Hedges Severely 182
Some Final Advice 184
Chapter Ten:
Bargains in Bonds, Real Estate, and Natural Resources
185
Emerging-Market Debt 186
The Case for Investing in Emerging-Market Debt 186
How to Evaluate Emerging-Market Debt 188
How to Invest in Emerging-Market Bonds 190
Emerging-Market Real Estate 194
The Case for Investing in Emerging-Market Real Estate 194
The Case Against Emerging-Market Real Estate 201
How to Invest in Emerging-Market Real Estate 204
Other Investment Opportunities 206
Chapter Eleven:
Investment Strategies and Specific Recommendations
208
General Investment Rules 209
Rule 1: Stay Cool 209
Rule 2: Diversify Broadly 209
Rule 3: Check Out Investment Bargains 210
Rule 4: Buy and Hold 211
Creating an Age-appropriate Portfolio 212
A Final Word 219
Part 111 Highlights 221
References 222
Acknowledgments 230
|
| any_adam_object | 1 |
| author | Malkiel, Burton G. 1932- Mei, J. P. |
| author_GND | (DE-588)121716066 |
| author_facet | Malkiel, Burton G. 1932- Mei, J. P. |
| author_role | aut aut |
| author_sort | Malkiel, Burton G. 1932- |
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| building | Verbundindex |
| bvnumber | BV036009178 |
| ctrlnum | (OCoLC)833245613 (DE-599)GBV232033986 |
| dewey-full | 332.673091724 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.673091724 |
| dewey-search | 332.673091724 |
| dewey-sort | 3332.673091724 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Book |
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| id | DE-604.BV036009178 |
| illustrated | Illustrated |
| indexdate | 2024-12-23T22:56:49Z |
| institution | BVB |
| isbn | 0684835185 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-018901432 |
| oclc_num | 833245613 |
| open_access_boolean | |
| owner | DE-83 |
| owner_facet | DE-83 |
| physical | 239 S. Ill., graph. Darst. 25 cm |
| publishDate | 1998 |
| publishDateSearch | 1998 |
| publishDateSort | 1998 |
| publisher | Simon & Schuster |
| record_format | marc |
| spellingShingle | Malkiel, Burton G. 1932- Mei, J. P. Global bargain hunting the investor's guide to profits in emerging markets Investments, Foreign / z / Developing countries Securities / z / Developing countries Entwicklungsländer Emerging Market (DE-588)4398432-0 gnd Investition (DE-588)4027556-5 gnd |
| subject_GND | (DE-588)4398432-0 (DE-588)4027556-5 |
| title | Global bargain hunting the investor's guide to profits in emerging markets |
| title_auth | Global bargain hunting the investor's guide to profits in emerging markets |
| title_exact_search | Global bargain hunting the investor's guide to profits in emerging markets |
| title_full | Global bargain hunting the investor's guide to profits in emerging markets Burton G. Malkiel and J.P. Mei |
| title_fullStr | Global bargain hunting the investor's guide to profits in emerging markets Burton G. Malkiel and J.P. Mei |
| title_full_unstemmed | Global bargain hunting the investor's guide to profits in emerging markets Burton G. Malkiel and J.P. Mei |
| title_short | Global bargain hunting |
| title_sort | global bargain hunting the investor s guide to profits in emerging markets |
| title_sub | the investor's guide to profits in emerging markets |
| topic | Investments, Foreign / z / Developing countries Securities / z / Developing countries Entwicklungsländer Emerging Market (DE-588)4398432-0 gnd Investition (DE-588)4027556-5 gnd |
| topic_facet | Investments, Foreign / z / Developing countries Securities / z / Developing countries Entwicklungsländer Emerging Market Investition |
| url | http://www.gbv.de/dms/bowker/toc/9780684835181.pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018901432&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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