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To: Joshua Corbin who wrote (1396)	12/14/2000 7:38:18 AM
From: Wyätt Gwyön	Respond to of 74559

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 listened to this book as an audio book and I agree, it was poor. Like why did he botherrr... Also concur that Malkiel's Global book is not good. Random Walk Down Wall St is much better. 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? I have asked a few pros this question. The typical response is, while it is difficult to beat a big-cap benchmark where most info is "priced in" quickly, pros can outperform more easily in emerging markets, small- and midcaps, cuz: the info disparities are greater and the lags to pricing-in are longer. (I don't think Malkiel would agree with this.) I don't know whether the evidence supports outperformance vs. WEBS, for example. Another potential argument (I'm just making this up) is that some foreign countries are dominated by a small number of stocks, which trade in the US anyway. Like NOK--I think it makes up about half the Finnish HEX, and many US investors have NOK anyway. Saying one is investing in "Finland" but putting 50 cents of every dollar in NOK might not be the kind of global diversification some seek...

To: Joshua Corbin who wrote (1396)	12/14/2000 9:34:48 AM
From: Hawkmoon	Respond to of 74559

My Joshua... quite the critic aren't you? All I stated was that the book provided a GLIMPSE about the problems involved in global investing. And I found his book interesting from the political and business risk perspective. It's not the emerging market bible, nor did I provide Mobius any glorious praise for miraculous results. I simply said I recommended it. And I noticed that YOU FAILED to offer an alternative... Bottom line is that almost ANYONE who wasn't short in the emerging markets has had their butts handed to them this year, Mobius included. One only has to look at the huge hedge funds which have been dissolved. Hell, even Soros bailed out of his hedge fund activities.... And these guys went both long AND SHORT on their positions. But it obvious that I'm wasting my breadth even responding to you... but at least others will see your comments for the biased tripe they are.