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
Stocks Are Allowed To Be Expensive Since Bonds Yields Are Low…Right? | #289
Best Idea Show - Doug Pugliese, Alpha Architect - Why Not Elect A 1042 Sale And Control When You Pay Those Taxes? | #288
Jonathan Hsu, Tribe Capital - Our Specific Areas Of Expertise Are Around Being Able To Tell A Story Utilizing Your Own Data | #287
Jeremy Grantham, GMO - What Day Is The Highest Level Of Optimism? It’s The Day The Market Hits The Peak | #286
Best Idea Show - David Marcus, Evermore Global Advisors - Do You Sell Things That You Like To Buy Things That You Now Love? | #285
Michael Gayed, Toroso Investments - I Don’t Know The Exact Mile Marker I Might Crash My Car, But I Do Know The Conditions That Favor The Accident | #284
Brian Barish, Cambiar Investors- In The Digital Age We’re De-Physicalizing Things | #283
Salem Abraham, Abraham Trading Company - Managing Risk Starts With Imagining the Unimaginable | #282
Adrian Helfert, Westwood Group - We’re Fundamental Investors And Multiasset Investors That Can Look Across The Capital Spectrum | #281
Matthew O’Connor, AdQuick - People Use The Term Disrupt All The Time…And I Like To Think We Can Kind Of Help Erupt The Industry | #280
Kevin Davitt, John Hiatt, Cboe - Relative To The Overall Portfolio, Small Allocations To Tail Risk Ideas Can Have An Outsized Impact | #279
Lucas White, GMO - Since Inception Of The Strategy…We’ve Been Buying Companies At A Significant Discount, Yet Our Portfolio Has Had Earnings Growth That Far Exceeded The Broad Equity Market | #278
Top Podcasts 2020 – Replay: Rick Rule, Joe Davis, Tom Basso | #277
The Best Investment Writing Volume 4: Selected Writing from Prominent Investors and Authors
Craig Wichner, Farmland LP - There’s $2.7T Worth Of Farmland In The U.S…And That’s The Same Economic Value As All The Apartment Buildings In The U.S Or All The Office Buildings In The U.S. | #27
David Lau, DPL Financial Partners - The Root Of All Evil When It Comes To Annuities Are Commissions |#275
Mitch Baruchowitz, Merida Capital Holdings - Is The Trade Over? No…It’s Just Getting Going In Some Ways | #274
Adam Moelis, Yotta Savings - Almost Half Of American’s Can’t Come Up With $400 In An Emergency And 78% Of People Live Paycheck To Paycheck | #273
Best Idea Show - Tobias Carlisle, Acquirers Fund - There Are Basically Three Big Periods Of Value Underperformance And They Seem To Congregate Around These Periods Of Technological Advancement | #272
Gary Zimmerman, Max My Interest - Several Of The Banks On Our Platform Offer Preferential Rates That Are Only Visible On The Max Platform | #271
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