To view the full presentation, please click here. 

Executive Summary

We were invited to present on value investing in Emerging Markets at the Ben Graham Centre’s 4th European Value Investing conference.

Dede Eyesan shared an overview of how emerging markets has underperformed over the past 16 years and laid out some reasons for this underperformance.

He then reflects on some great emerging market value investors and lessosn we can learn from them. We summarise the key themes into four  parts; geographic, cultural, market structure, technical advantages. We explore perspectives on each with individual case studis ranging from Chinese Baijiu to Indian IT Consultants.

The presentation concluded by introducing the Jenga Country Index, our screening tool which guides our country stock picking. You can read the full presentation here.