Today's Best Emerging Market

Today's Best Emerging Market:

"What emerging market trades for less than six times earnings and pays 4%?

Here are a couple more clues about the country itself: Government debt is just 8% of the economy. (In the US, Japan and the EU, these percentages are over 100%.) And unemployment is only 6%.

The answer gets us to Rob Marstrand's favourite idea...

I met Rob in Uruguay at an investment conference where we were both speaking. We also sat on the same 'best ideas' panel, in which Rob opened with his mystery favourite emerging market.

He is the chief investment strategist for the Bonner Family Office. Marstrand is English and reminds me of Roger Moore circa 1973, when he played James Bond. Before joining the Bonner Family Office, Rob worked for 15 years at the Swiss banking giant UBS. (As with your editor, he's a former banker.)

The approach at the Family Office is pretty simple. It involves thinking 'ultra-long term' and applying a value approach. The office has an international focus, looks for big-picture trends and aims to keep costs low.

Rob favours emerging markets, but he likes one in particular. And it's the answer to the question up top.

Russia."

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