Today’s guest is Tina Vandersteel, who is the head of GMO’s Emerging Country Debt team. She’s been with GMO for almost two decades.
In today’s episode, we dive into Tina’s teams’ recent piece about what they call a possible “once-in-a-generation opportunity” in emerging market local currency debt. Tina gives a great overview of the emerging market debt asset class and then we dive into the reasons behind her team’s call. She shares why today is reminiscent of 2004 and how she thinks about things like liquidity panics and sanctions risk. And you won’t want to miss her hot take on China.
It’s not often you see the words ‘once-in-a-generation’ from a well-respected shop like GMO so I’m excited for you all to listen in.
(1:27) - Welcome Tina to the show
(2:08) - Overview of emerging market debt
(4:27) - What are Brady Bonds?
(7:53) - Delving into sovereign debt issues
(11:29) - No Stone Unturned
(12:58) - The overvalued US dollar
(25:00) - China’s place in emerging debt markets
(29:33) - Identifying countries at risk of default
(37:35) - Highlighting opportunities arising from geopolitical events
(42:12) - Tina’s most memorable investment
(47:00) - Sharing Tina’s most controversial viewpoint
-----
Follow Meb on Twitter, LinkedIn and YouTube
For detailed show notes, click here
To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com
-----
Sponsor: Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here.
Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok
-----
Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com
-----
Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
-----
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Startup Series – Katie Echevarria Rosen Kitchens, FabFitFun - Paying $50 And Getting Over $300 In Full-Size Products Is A Pretty Cool Thing | #328
Mario Gabelli, GAMCO Investors - We Have Accumulated Compounded Knowledge of Certain Industries Over An Extended Period Of Time | #327
Starup Series – Viktor Nebehaj, Freetrade - We Want Everybody To Have Access To Investing | #326
Bhu Srinivasan, Author, Americana - Is The Entrepreneur More Important Or Is The Movement And Moment More Important? | #325
Edward McQuarrie, Santa Clara University - Sometimes Stocks Beat Bonds, Sometimes Bonds Beat Stocks | #324
John Montgomery, Bridgeway Capital Management - A Factors-Based World View Resonated With Me | #323
Radio Show – Inflation or Deflation?…Foreign Stocks….Value and Momentum | #322
Rajiv Jain, GQG Partners - “Everything Is Temporary And The Only Way To Survive Long-Term Is To Be Adaptive” | #321
Shonda Warner, Chess Ag Full Harvest Partners - The Interesting Thing About Ag Is That It’s There To Play Another Day | #320
Brandon Zick, Ceres Partners - The Market Is $3 Trillion And Institutional Investors Own About 3% Of That | #319
Perth Tolle, Life + Liberty Indexes – If I Was In Hong Kong Right Now, I Would Be Arrested, Definitely, For Doing This | #318
Chris Cole, Artemis Capital Management - You Want To Diversify Based On How Assets Perform In Different Market Regimes | #317
Dianne McKeever, Ides Capital - My Entire Career, I’ve Been A Value Investing Focused Shareholder Activist | #316
Warren Pies & Fernando Vidal, 3Fourteen Research - I Think That The Next 40 Years Are Unlikely To Look Like The Last 40 Years | #315
Dan Morehead, Pantera Capital Management - Satoshi Created Bitcoin As A Result Of The 2008 Global Financial Crisis And It’s Really Coming Into It’s Own Now | #314
Rob Arnott, Research Affiliates - Modern Monetary Theory Does Not Work | #313
Carter Malloy, AcreTrader - In A Couple Of Minutes, You Can Invest As Little As $15,000 Or $20,000 In A Particular Farm | #312
Radio Show – Valuation Update…Bond Returns….Meb’s Startup Investing | #311
Kathryn Kaminski, AlphaSimplex - When You’re A Systematic Investor, Your Process Makes The Decision | #310
Andrew Horowitz, Horowitz & Company - I Think We’re Starting To See A Little Bit Of What Happens When The Tide Goes Out | #309
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast