The Meb Faber Show

In episode 187 we welcome our guest, Kevin Carter. Meb and Kevin start the conversation with some background on Kevin’s career, getting to know Burton Malkiel, and launching EMQQ.  Kevin offers some of his thoughts on investing in China, including his initial thoughts about the prominence of state owned enterprises. Kevin mentions that a key component to investing in emerging markets is that it’s about the consumer. He notes that emerging and frontier markets are 85% of the world’s people and almost 90% of the people under the age of 30, the GDP of those people are still growing twice as fast as the rest of the world, and their incomes are growing.  Kevin discusses that once he figured out that the indexes that were available to invest in these markets were allocated relatively heavily to the legacy, inefficient, state owned enterprise portion of economies, he got to work on building indexes that were more targeted to capture emerging market growth.  Meb and Kevin then discuss the reality of emerging market a