Building, compounding & exiting

Hey Reader, The world's most profound structural mismatch creates the greatest investment opportunity of our generation It’s been a hectic month with over 30 meetings with primarily European family offices discussing asset allocations and emerging markets. I’ve been positively surprised that there is an increasing realization that the (extreme) under-allocation to emerging market equities is neither healthy nor sustainable. With this 2nd part in this newsletter series, I want to continue the...

Hey Reader, The world's most profound structural mismatch creates the greatest investment opportunity of our generation Most sophisticated investors I know think it's madness. When I tell them that roughly 77% of my net worth is concentrated in emerging & frontier market assets, they usually respond with some version of "that seems quite risky..." or "shouldn't you have at least the majority of your portfolio in the US - everyone knows US stocks outperform everything...". They're not entirely...