53 | Michael McGaughy, Emerging Market Investing

<p><span style="font-weight: 400;">Michael McGaughy is the Founder and Portfolio Manager of Research Alpha, a specialist fund which invests in the equity of unloved and out-of-favour quality companies in some of the world’s least expensive stock markets, like Uzbekistan, Argentina and Egypt. </span></p> <p> </p> <p><span style="font-weight: 400;">In this conversation, we cover how he started and got interested in emerging markets, what investing in emerging markets involves, and a little bit about Uzbekistan.</span></p> <p><span style="font-weight: 400;">I hope you enjoy my conversation with Michael McGaughy.</span></p> <p> </p> <p><span style="font-weight: 400;">For the full show notes, transcript, and links to mentioned content, check out the episode page on </span> <a href= "https://compoundingpodcast.com/ep52"><span style= "font-weight: 400;">https://compoundingpodcast.com/ep53</span></a><span style="font-weight: 400;"> </span></p> <p> </p> <p><span style="font-weight: 400;">------</span></p> <p> </p> <p><strong>Show Notes:</strong></p> <p><span style="font-weight: 400;">[00:00:31] - [First question] - How Michael first made his way to Asia</span></p> <p><span style="font-weight: 400;">[00:03:46] - How Michael became an Analyst in Indonesia in 1989</span></p> <p><span style="font-weight: 400;">[00:06:44] - Private Equity in China in the mid 90’s</span></p> <p><span style="font-weight: 400;">[00:09:09] - Developing comfort in investing in emerging markets</span></p> <p><span style="font-weight: 400;">[00:13:45] - The Three things Mike looks for in an investment</span></p> <p><span style="font-weight: 400;">[00:16:19] - How quickly do emerging markets rebound?</span></p> <p><span style="font-weight: 400;">[00:18:33] - Difference between financial crisises and political crisises</span></p> <p><span style="font-weight: 400;">[00:20:33] - Dealing with foreigner restrictions in emerging markets</span></p> <p><span style="font-weight: 400;">[00:21:47] - Mike’s process for determining who owns what in an emerging mar