Welcome to Money for the rest of us. This is a personal finance show on money, how it works,

how to invest it, and how to live without worrying about it. I'm your host, David Stein. Today is

episode 522. It's titled, Investing in Emerging Markets with Ali Akai. Last week, we shared how

emerging market equities massively outperformed U.S. stocks from 2002 through

2012. Emerging market stocks outperformed U.S. equities by almost 12% annualized over that decade.

Then over the next 12 years, trends reversed. U.S. stocks outperformed emerging markets' equities

by over 11% annualized. In 2025, emerging markets

are again outperforming U.S. stocks. Given that, we thought it was an opportune time to hear from an

expert on emerging markets. Ali Akai is founder and CIO of Carhe Capital, a London-based emerging market investment boutique

founded in 2011. In this episode, Akai is interviewed by Greg Dalling, F.G advisors, chief

investment officer and head of research. Greg and I worked closely together when I was at

FVG. Akai answers the question we all have. Why invest in emerging markets?

He also shares insights on China, Mexico, South Korea, Argentina, Greece, Turkey, South Korea, and South

Africa. This is a fascinating discussion on the developing world. Before we get started, however, in this age of

substack, with newsletters all the rage, did you know that we've been writing our weekly email

newsletter for over a decade? We use it to introduce the podcast episode, but we also share

information that works best in written and visual formats. Of course, it's on money

investing in the economy, just like the podcast, but some things are just better shared in writing.

So if you're not on the list, please sign up and you'll receive our free introductory email

series on eight essential investment principles that I follow, and if you follow, they can help

make you a better investor.

The Insetters Guide email newsletter is the next best step to get the most out of your investment

...