Introduction to the Paperback Edition: Recent Crises Present Historic Opportunities
In the first edition of Global Bargain Hunting,
we wrote not only of the large, long-run growth opportunities in the stock markets of emerging countries, but also of the enormous risks involved. We indicated how political and currency instability could sour many investment opportunities and how lawlessness and corruption made many emerging markets a particularly dangerous jungle. Unfortunately, investors in early 1998 experienced only the risks of emerging-market investing -- not the rewards. While the first edition was published after the initial...