029 -- Advanced - Investing in Emerging Markets

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a

Dad, I’d like to borrow some money.

b

Sure, Johnny, how much do you need? five bucks?

a

Come on, Dad, I need thirty thousand. I wanna get into the market. You know, I’m tired of hearing all this news about the economic downturn, the inevitable recession, people stuffing their money in their mattresses. I look at this as an opportunity. This is a chance for me to get a jump start on building my nest egg.

b

I don’t know about that; with all the uncertainty in the markets right now, it would be a very unwise decision to invest. I don’t know if you’re aware son, but there has been a lot of turmoil in the mar- kets recently. There have already been half a mil- lion layoffs in the last few months, and we have no idea how the proposed stimulus package will impact the economy. There’s just too much insta- bility. I wouldn’t feel comfortable investing in this climate.

a

But look at it this way, every challenge is an oppor- tunity. And anyway, I’m not talking about investing in the domestic market. There are emerging mar- kets that promise great returns. Look at China, for example; they have 1.4 billion people, half a billion of whom have recently entered the middle class. Here alone, the aggregate demand for consumer goods represents an amazing wealth generating opportunity.

b

Come on, son, you’re looking at this too naively, the Chinese market has exhibited a great deal of instability, and their currency has been devalued by almost a whole percentage point.

a

Fine, then! If that’s the way you feel, so be it. But you’re losing out on a great opportunity here. I’m going to go hit up Mum for the cash.