Opportunities in Emerging, Frontier Markets: Kevin T. Carter, EMQQ Global

11/21/23 • 58 min

This podcast episode was recorded on Nov. 15, 2023 and released to premium subscribers the following day --without ads. To become a premium subscriber, sign up through our Substack or Supercast.

Kevin T. Carter, founder and chief investment officer of EMQQ Global, joins the podcast to discuss opportunities in emerging and frontier market stocks. His first lesson: don't bother with the indexes. The real opportunities are to be found in individual stocks.

Content Highlights

The first issue with emerging market investing is the index. These do not accurately reflect the real opportunities (1:19);
Individual stocks, especially of technology companies, have performed far better than the underlying index (6:25);
There are three mega-trends that point to emerging markets growth over the long term (8:03);
South America's E-commerce giant is not in any EM index. Neither is Brazilian digital bank Nu Holdings (15:14);
A broad discussion of China, where things are not always as they appear in the western media... (19:22);
Right now all eyes are on India. The story there is still in the early innings, but unfortunately options are limited for investors limited to US exchanges... (42:13);
Other markets in South Asia also offer compelling opportunities. Especially Bangladesh (48:58).

More Information on the Guest

LinkedIn: TheKevinTCarter;
Website: EMQQGlobal.com.

This podcast episode was recorded on Nov. 15, 2023 and released to premium subscribers the following day --without ads. To become a premium subscriber, sign up through our Substack or Supercast.

Content Highlights

The first issue with emerging market investing is the index. These do not accurately reflect the real opportunities (1:19);
Individual stocks, especially of technology companies, have performed far better than the underlying index (6:25);
There are three mega-trends that point to emerging markets growth over the long term (8:03);
South America's E-commerce giant is not in any EM index. Neither is Brazilian digital bank Nu Holdings (15:14);
A broad discussion of China, where things are not always as they appear in the western media... (19:22);
Right now all eyes are on India. The story there is still in the early innings, but unfortunately options are limited for investors limited to US exchanges... (42:13);
Other markets in South Asia also offer compelling opportunities. Especially Bangladesh (48:58).

More Information on the Guest

LinkedIn: TheKevinTCarter;
Website: EMQQGlobal.com.

Previous Episode

Opportunities in Credit Markets with Tom Carney, Weitz Investments

This episode was released to premium subscribers on Oct. 26 without ads or announcements. More information about premium subscriptions is available on our Substack or Supercast.

Tom Carney, co-head of fixed-income at Weitz Investments, joins the podcast to discuss his (perhaps surprisingly) optimistic view of bond and credit markets.

Content Highlights

Carney's views on the bond market. Interest rates have created a much-improved, encouraging environment for investors (1:33);
Opportunities include the non-corporate bond market, specifically the asset-backed securities market (5:38);
The guest has a unique view into consumer lending. There are defaults, but not more than usual (10:37);
Discussion of the mortgage-backed securities market. There too, defaults are not particularly prevalent (13:05);
How big of a concern is the Fed? (24:25);
Background on the guest (29:57);
What about his concerns facing markets at present? (38:09).

For more information on the guest, visit the website WeitzInvestments.com.

Next Episode

Short-Term Treasuries the Place to Be: Jared Dillian, Daily Dirt Nap

This podcast episode was recorded Nov. 29, 2023 and made available to premium subscribers the following day. To become a premium subscriber, sign up through our Substack or Supercast.

Jared Dillian of the Daily Dirt Nap joins the podcast to discuss his bullish views on short-term Treasuries and less optimistic outlook for the US economy. He also discusses his work as an author and views on disparate issues facing society.

Note: The podcast episode contains some mature language.

Content Highlights

The 'soft landing' scenario appears to have become the base case. Dillian doesn't quite buy that (1:37);
To be bullish on short-term Treasuries one needs to believe the Fed is going to cut rates. That is imminent (4:26);
Addressing the inflation bogeyman. The risk has maybe receded over the short term, but what about a return over the medium term? There is historical precedent for this from the last time inflation was a serious force in the US... (9:37);
Background on the guest and a broad discussion of his time at Lehman Brothers (including its downfall), working on Wall Street, career paths, education, and more...(15:48)