Mobius on Emerging Markets (Financial Times Series) [Hardcover]

Dharma Publishing (Author)

Book Description

Publication Date: November 5, 1996 | Series: Financial Times Series

Fund Manager of the Year --Daily Telegraph, 1993

Editorial Reviews

Amazon.com Review

J. Mark Mobius is the globetrotting manager of emerging-markets portfolios for the Templeton group of mutual funds. He has gained celebrity for his legendary success in uncovering investment opportunities in obscure corners of the world--for that and for his shaved head. In Mobius on Emerging Markets, he gracefully describes the demographic, technological, and ideological trends that have been accelerating growth in what was once known as the Third World. Mobius provides country-by-country reviews of many emerging markets and explores various methods of evaluating both markets and individual stocks. His book is a worthwhile, sober introduction to one of the investment world's most exciting topics. --Barry Mitzman

From Publishers Weekly

This comprehensive handbook for investing in stock markets of emerging economies is written by the president of numerous mutual funds, including the Templeton Emerging Markets Fund, which claims to have averaged a 23% annual return in its eight-year history. Through spectacular improvements in education, life expectancy, technology and financial stability, maintains Mobius, countries once called "underdeveloped" today offer opportunities comparable to buying land in the U.S. during the 1800s. Beginning with the demographic, technological and ideological shifts that, in his view, expand economic conditions, he analyzes the opportunities and risks involved in investing in countries like Malaysia ("the success story of the decade"), Lebanon (Beirut is "a future Hong Kong") and Russia (where post-Soviet privatization "augurs well for the development of capital markets"). Mobius applauds "market-oriented reforms" like minimal regulation and low capital gains taxes. Among specific investment strategies, he recommends buying directly on the emerging stock markets as well as purchasing shares in emerging-market mutual funds, including his own. He also addresses political, financial, regulatory and other risks involved in such investments. This upbeat, if technical, description of emerging markets is punctuated with Mobius's highly personal commentary on his research trips around the world. 35,000 first printing.
Copyright 1996 Reed Business Information, Inc.

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Product Details

• Hardcover: 364 pages
• Publisher: Financial Times/Prentice Hall; 2 Sub edition (November 5, 1996)
• Language: English
• ISBN-10: 0273622846
• ISBN-13: 978-0273622840
• Product Dimensions: 9.1 x 6.1 x 1.2 inches
• Shipping Weight: 1.3 pounds
• Average Customer Review: 3.8 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #1,800,710 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

9 of 10 people found the following review helpful:

5.0 out of 5 stars An Interesting & Enlightening Insight to Emerging Markets, December 22, 1998

By A Customer

This review is from: Mobius on Emerging Markets (Financial Times Series) (Hardcover)

Mobius on Emerging Markets demonstrates that the author is more than just a fashion guru. The book is a well-written and compelling read; I read nearly all the 364 pages in one day. It is logically structured and gives the reader an enlightening introduction to emerging markets; this is supported with clear graphical and tabulated statistics.

The book is divided into three Parts:

1) Emerging Markets

Origins of Emerging Markets Macro Economic Trends in Emerging Markets

2) Country Reviews

Emerging Market Overview (Africa, Asia, Latin America, Middle East, Southern Europe)

3) Investment

Investment Strategies and Investments Evaluating Stock Picks Stock Exchange Characteristics Risks My View on Emerging Markets

Although I was initially sceptical of Mark Mobius I must thoroughly recommend this book and congratulate Mark Mobius on his well-deserved success.

If you are considering investing in emerging markets `Mobius on Emerging Markets' is his best advertisement yet.

3 of 3 people found the following review helpful:

5.0 out of 5 stars More interesting in the context of increasing globalization, July 22, 2001

By 

"bookriver" - See all my reviews

This review is from: Mobius on Emerging Markets (Financial Times Series) (Hardcover)

Mobius is certainly a guru for people like me who do analysis on emerging markets. People were questioning the viability of emerging markets investing as an asset class just a couple of years ago due to contrast between the boom of US equity market and the gloomy performance of MSCI. Doubts also come from the debate on the "high alpha or just high beta". Some even go further to say that "either the companies (in emerging markets) have been integrated into global markets or the companies are not worthy at taking a look at all". So what's the virtue of investment market as an asset class? Does it matter? What kind of investors are the fit for this asset class? How?

I am a firm believer in what Charles Ellis as well as David Swensen have said about the alternative investments philosphy. In "winning the loser's game", Ellis eloquently, humorously while ruthlessly concluded that "it is harder and harder to beat the market" for market is yourself or people like yourself. It is a pity that he didn't talk about emerging markets. Mobius went on to explore the markets to share the knowledge on this young while dynamite asset class. It is still too early to draw a conclusion on this-we'll wait and see. Nevertheless, It is great that somebody is there waving to you and say "hay, you might want to try this and it is fine".

3.0 out of 5 stars Dated, obsolescent, December 31, 2011

By 

Epictetus (Hong Kong) (Hong Kong) - See all my reviews

This review is from: Mobius on Emerging Markets (Financial Times Series) (Hardcover)

Mobius is an investment genius, of that there is little doubt. However, in 2012 this book is of very limited interest. It is largely a collection of facts about emerging markets as they were many years ago, and while many of the facts are interesting few have much relevance to investment and many no longer are true. For example, writing from Muscat he states that most men in Oman wear the Khanjar dagger. In today's Muscat this is not the case at all. Khanjars are worn there today as often as US Army generals wear cavalry swords. The book also has a chapter on the USSR, which is of course no longer an emerging market as it no longer exists.

"EPICTETUS"