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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (1386)	12/13/2000 7:59:17 PM
From: TobagoJack	Respond to of 74559

>"Seems to me that ripping off western investors/lenders would be both an interesting way to get some free "progress"" Yup, some one must pay the tab for progress, and any loss of money is but another cost to be expensed or capitalized and then amortized. Frictional heat loss. >"Screw me once, shame on you... screw me twice... shame on me..." There has been an Latin American debt crisis once every 10 years or so, for the past 150 years. You may not be responsible, but your bank is. You just sign the checks and finance it. The money, is like water in river, must flow, some times pool, and other times flood, and some times dry up.

To: Hawkmoon who wrote (1386)	12/14/2000 2:19:08 AM
From: Joshua Corbin	Read Replies (2) \| Respond to of 74559

Actually, I recommend Mobius's book, Passport to Profits to anyone who wants just a glimpse into the travails of emerging markets. Should be Passport to Losses: quote.yahoo.com This was one of the lamest investing books I ever read. Mobius throws in all this travelogue and those silly little bullet points to make himself look good. I was also unthrilled with stuff like Malikel's Global Bargain Hunting, but this one piles on the ego. He's like a real-life Dr. Evil from the Austin Powers movies. If New Economy is a bogus buzzword, then Emerging Markets is even more so. Templeton Emerging Markets charges a 1.63% expense ratio to give investors a five year annualized loss of 5.40%. quicktake.morningstar.com YTD on EMF is -43.53%. By comparison, YTD on the QQQ is -32.00% and SPY is -9.25%. closed-endfunds.com Captain Baldy would say that his style of investing involves risk, requires long time horizons and that prices are cheap right now. If a New Economy guy made these claims, you'd laugh. But Mobius is a Master of The Freaking Universe. Why is Mark Mobius so adored? Why do so many who hate Abby Cohen love this guy? Why do they, who think techs are going to negative numbers, find Third World equities such a great deal? If wunderkind stock pickers can't beat the market on their home turf, why should we expect them to excel in Hong Kong, Japan or Korea?