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Global Bargain Hunting: The Investor's Guide to Profits in Emerging Markets Paperback – Bargain Price, July 9, 1999

9 customer reviews

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Editorial Reviews

Review

Katia Hetter U.S. News & World Report One of the best books out.

Mark Mobius author of The Investor's Guide to Emerging Markets Global Bargain Hunting is an excellent guide for emerging market investors. The authors' extensive knowledge of financial history and their ability to explain it vividly give readers useful insights into the risks and opportunities arising from current developments.

About the Author

Burton Malkiel holds the Chemical Bank Chairman's Professorship at Princeton University, and is the author of A Random Walk Down Wall Street. He serves on the boards of several major corporations, including The Vanguard Group, an investment company with over $450 billion in assets. He is former president of the American Finance Association. He lives in Princeton, New Jersey.
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Product Details

  • Paperback: 240 pages
  • Publisher: Touchstone (July 9, 1999)
  • Language: English
  • ISBN-10: 0684848082
  • ASIN: B005M4U3OC
  • Product Dimensions: 6 x 0.6 x 9 inches
  • Shipping Weight: 13.6 ounces
  • Average Customer Review: 3.4 out of 5 stars  See all reviews (9 customer reviews)
  • Amazon Best Sellers Rank: #7,230,336 in Books (See Top 100 in Books)

More About the Author

Burton G. Malkiel is the Chemical Bank Chairman's Professor of Economics at Princeton University. His books include "From Wall Street to the Great Wall," "Naked Economics," "The Random Walk Guide to Investing," and the mega-bestseller "A Random Walk Down Wall Street."



Customer Reviews

Most Helpful Customer Reviews

5 of 5 people found the following review helpful By Travis Morien on May 18, 2005
Format: Hardcover
This is an interesting read, it presents a very bullish argument for investing in emerging markets based on the tremendous economic transformation that emerging markets are undergoing as a result of globalisation.

Overall this is a simple little book, not a particularly challenging read but worthwhile nonetheless. Its a very decent primer but doesn't seek to go into a huge amount of depth.

The author argues that index funds are overall the most effective way to gain exposure to EM, mainly on the basis of the high transaction costs and thin trading in emerging markets, which more than offset any potential gains that professional investors may make from stock picking and exploiting inefficiencies.

At the very least it does make a good argument for putting a proportion of your portfolio into emerging markets index funds and is a useful book to have in one's library, especially for financial advisors like myself who may find some of the passages in this book very quoteable and useful for explaining the asset class to clients.
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3 of 3 people found the following review helpful By Rats on February 22, 2000
Format: Paperback
Fairly good book, but mostly for beginners. The general approach is no-nonsense, well explained and very tilted towards indexing, as in the Random Walk. Unfortunately, for non-US readers, the last tilt is not very helpful since there are few available indexed vehicles to use for investing in emerging markets. Personally (I am a pro in investment, but with no specific expertise in EM) I did not find a lot I did not know already. Also I am skeptical of the application of Peter Lynch's growth-to-P/E ratio to comparisons between paired advanced- and emerging-market stocks. As a lesson in sensical approaches to long-term investing I still much prefer the Walk.
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4 of 5 people found the following review helpful By A Customer on July 28, 1999
Format: Paperback
In Malkiel and Mei's book, "Global Bargain Hunting", the authors provides vehement yet sound arguments to urge investors to consider putting foreign financial assets into their portfolios. The authors carefully explain the risk of investing in emerging markets and devise a strategy to control the risk while increasing the returns. The authors then provide a step-by-step guide to help the investors into this investment opportunity. This book can be considered as an extension to the first author's book, "Random Walk down Wall Street" . Because of the fast economic growth in Southeast Asia the idea of investing in emerging markets is not new to many investors. People heard stories of success a failure with exaggeration. However, little formal analysis was put forth to help interested investors. This is where the book makes its impact. The main contribution s of the book are in its calm and calculating analysis on the risk of investing abroad, and in the strategy to diversify this risk. The book provides a sound approach to the issue. Of course, interesting and exciting stories were told to stimulate the readers' interest, also, to provide historical background. For those who are familiar with Malkiel's "Random Walk down Wall Street", they will find that these analyses and advices are not completely different from the ones in the "Random Walk" book. This shows some kind of consistency in the application of sound financial strategy. Investing in emerging market can be beneficial to both investors and the markets being invested because it implies capital flow to a possibly more productive use. This book, by providing a balances treatment is one of the best on the issue of investing in emerging markets.
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2 of 2 people found the following review helpful By A Customer on May 13, 1998
Format: Hardcover
There are few books that can discuss difficult ideas of investment theories in a friendly language. The book is one the few. Actually, it is enjoyable to read the book. The book's structure and writing are interesting and smooth. Its exhibits are clear and well connected to the text. One can easily grasp the important investment ideas without going through the hard time of struggling with bizarre termenology and equations. It is really an interesting and useful book for both laymen and professionals.
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1 of 1 people found the following review helpful By Golden Lion VINE VOICE on September 27, 2008
Format: Paperback
1. 85 percent of the worlds population produce a combined 21 percent of the world's production of goods and service.

2. In a ten year period, the economies of Asian and Latin America economies grown three times the rate of growth in the United States, encompassing, China, Japan, India, Indonesia, South Korea, and Thailand.

3. Malaysia, Indonesia, and Thailand have relied on free-market incentives, in the last twenty years, to produced economic miracles.

4. Since 1978, China has recorded an 10 percent growth rate and lifted 170 million rural farmers out of poverty and created 120 million new jobs.

5. China's leadership understands that their survival depends on the "elimination of revolutionary conditions."

6. China's capitalism has beat India's socialism, hands down, foreign investment is flowing in, state own business are being sold, and subsidies cut.

7. Chile market reform has been impressive, as it, adopts a free-market policy, privatized state-owned enterprise, moderated inflation, improved democracy replacing authoritarian oligarchy.

8. The Czech Republic, Hungary, and Poland have been successful in economic transition, with rapid output growth, and moderate inflation.

9. The global demographic trend is the decreasing size of the U.S consumer market relative to the rest of the world. Each US citizen has about $5,000 purchasing power per year.

10. In the mid-1990s, US institutional investors held close to 95 percent of their equity funds in domestic stocks. In 1997, the great majority of large institutional investors indicated their goal of increasing their portfolio share of non-us stocks to 10 percent or even higher.

11.
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