Invest Like The Best
Episode 169 Frontier Markets Investing
Invest Like The Best

Episode 169: Frontier Markets Investing

Invest Like The Best

Episode 169

Frontier Markets Investing

Manny Stotz is the founder of Kingsway Capital, a leading investor in frontier markets. We cover how Manny defines what a good business is, the struggles of building a portfolio in frontier markets, and how a country's demographics can affect its potential long-term growth.

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[00:02:07] – (First question) – How Kingsway was conceived, their focus on frontier emerging markets, and his career path

[00:11:57] – What are the best company builders good at when it comes to fostering a brand

[00:18:30] – How country-specific factors impact the tailwind

[00:25:43] – How markets are faring in these special circumstances

[00:32:09] – Building a book in many of the markets they trade-in

[00:37:10] – Understanding your edge in frontier markets, showing up

[00:39:59] – Importance of solid distribution for the companies he invests in

[00:42:12] – Concentration in various markets

[00:44:10] – Moving beyond consumer brands in these markets

[00:47:14] – Some of the most interesting countries they are looking into and the country business model

[00:47:42] – Guns, Germs, and Steel: The Fates of Human Societies

[00:47:44] – Civilization: The West and the Rest

[00:47:46] – Why Nations Fail: The Origins of Power, Prosperity, and Poverty

[00:53:21] – New topics he’s excited to learn about that will impact his business over the next 10-20 years

[00:55:37] – Best way for people to get involved and invest in these markets

[00:58:17] – Kindest thing anyone has done for him

Frontier Markets Investing

Introduction

Patrick
My guest today is Manny Stotz, the founder of Kingsway Capital. Manny is one of the leading investors in frontier markets, investing in equities in countries like Egypt, Bangladesh, and Pakistan. We discuss the opportunity in these markets from all angles; demographics, valuations, sectors, and beyond. It's important to note that we recorded this conversation before the COVID pandemic, and these markets have fallen 30% more without a similar rebound in prices that we've seen in the U.S. As you listen, you'll hear why this may be relevant for the companies Manny focuses on and may accentuate the opportunity in frontier markets even relative to the numbers quoted in this conversation. Listeners will know my interest in frontier markets runs deep, so I was excited to have one of the category's leading investors join me. Please enjoy my conversation with Manny Stotz.

Kingsway Capital Background

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