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Dr. Mobius was there at the beginning, in 1986, when a World Bank subsidiary called the International Finance Corporation began to promote portfolio investment in "emerging" global markets. One of the world's pioneer emerging market investors, Sir John Templeton, opened his Emerging Markets Fund with Mark Mobius at the helm.
The term "emerging" is clarified thus: ". . . with the implication that the stock market's potential to emerge further is strongly linked to the economy's overall development potential."
Some of the most helpful material in this book is in the form of a financial intermediation primer beginning in Chapter 5. The investor who is curious about emerging markets will find plenty of readable explanation and summary to aid in understanding how financial markets are embracing every corner of the planet.
Michael Pellecchia writes about business and finance books each month He can be reached at michael_pellecchia@bookpage.com.
©1996, ProMotion, inc.
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