Livewire Expert Insights: Is It Time to Deploy Cash Into Emerging Markets?

22 August 2022

View the original port including transcript on Livewire.

Ken Thompson, one of the earliest pioneers of computer science in the US, had a philosophy that now rings true across many industries.

Make each program do one thing well.

In our universe, we use that philosophy to describe tenacious and persistent investors who work on mastering one specific approach. Be it a macro-agnostic approach or a style-specific system (i.e. all value or all growth), there are certainly only a few professionals who can claim to have mastered their area of expertise.

One of those is Dr Joseph Lai of Ox Capital Management. His approach could only be described as high-conviction and extremely picky. As he told Hans Lee at Livewire Markets, the team only has three core principles:

  1. Find underappreciated but secular industry trends
  2. Look hard for companies that lead those trends
  3. Never pay up

In this edition of Expert Insights, we’ll take a close look at all three of those principles. In particular, we’ll prosecute the last of these principles – why he will never pay up and why he’s willing to remain patient (for years even) to buy the companies on his shortlist.

As a bonus, he tells about two emerging economies in our own backyard that he believes could present multi-decade opportunities for investors if they just know where to look.

For his complete thesis, take a look at the video below.

Produced by Livewire Markets and published on 16 August 2022.

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