Darek Klonowski on Polish Inter Cars SA and Eastern Europe Private Equity

For obvious reasons, Central and Eastern Europe is on the short-list of emerging markets to pay attention to. Labor costs are relatively low. CEE companies can sell directly into European markets. And they can draw directly on European talent. In general, few things facilitate development like having a major economic power as your neighbor. This […]

Jonathan Woetzel of McKinsey: Reality vs Fantasy in Chinese Secular Trends

Nearly everyone talks about China in terms of large secular trends – GDP growth, consumer spending, etc. – but Jonathan Woetzel has been living and working in China for almost 20 years and has unique insight into the truth and fantasy of such trends. Jonathan Woetzel is the “go to guy” for understanding China’s rapidly growing […]

Erik Bethel of SinoLatin Capital: Investing between China and Latin America

Some of the best opportunities in global value investing today are in highly inefficient and largely undermined special situations – such as in the surging natural resource deals between China and Latin America. Erik Bethel, founder of SinoLatin Capital, got there first. He was arguably the first investor out of China to be on the […]

Peter Williamson: Cross-Border Investment Trends to Watch For

Value investors have long been obsessed with trends. The secular ones can provide a measure of certainty and the cyclical ones can provide buying opportunities. It’s a useful obsession. One of the advantages of global value investing is that one can study not only domestic trends (such as consumer demographics) but also cross-border trends. The […]

Petra Capital on CJO Home Shopping and South Korea’s Volatile Small-to-Mid Caps

South Korea is one of those economies that global value investors pay attention to. It is export-driven. It is relatively small. And it sits adjacent to emerging market behemoth China. The entire economy could almost be considered a cross-border special situation. In this, it has a lot of inefficiencies that global value investors hunt for. This month we […]

Jose LaRosa: How Grupo Gloria Made a Killing in Peru Sugar Plantations

It turns out the West’s most successful export has been entrepreneurial capitalism. From Brazil to Beijing, we are seeing a sea of companies emerging out of the developing economies. They are often family-owned. They are usually small cap. They are frequently traded on highly volatile local exchanges. And they are increasingly developing surprisingly strong competitive moats […]

Fadi Arbid of Amwal Al Khaleej: What’s Next for Middle East Investing?

The Middle East is an unusual emerging market. It attracts investors with its oil wealth (+40% of the world’s proven oil reserves). Its consumer and competitive dynamics are fairly stable and predictable. And it has a +70-year history of successful deals with Western partners. All of these things make it particularly attractive and manageable for […]

Great Review of My Book by Chris Mayer at Agora Financial

Chris Mayer, managing editor at Agora Financial and author of Mayer’s Special Situations, reviewed my book. Really dead-on accurate I thought. I am reading his book Invest Like a Deal Maker. The review is reproduced below with his permission: ———————– The Prince of Deals Prince Alwaleed is one of the world’s greatest investors. Born in […]