Preface: Notes before We Go
I want to say a few things about what you are about to read. . .
Please remember this book is written from the perspective of an investor—a great enthusiast of all the world's charms but still an investor searching for ideas. I'm not writing a piece of social commentary or proclaiming deep knowledge about the nature of a place or its people. My aim is to find investment opportunities and trends.
In my travels, I've met a lot of new people and gained valuable contacts. But the fact of the matter is that the spadework of successful investing is mostly done from afar. In fact, many of my most successful investments came from companies I never met in places I've never been. That is as it should be.
A great investment idea should be plain, clear, and nearly obvious. I say “should” because many times they are, but there are always exceptions. The idea of investors harboring secrets and holding insider knowledge is something drummed up by people as a way to explain something they don't understand. It's propagated by many people in the business to whom such ideas are self-serving.
Most investing insights come from unglamorous trolling of publicly available data, mixed with some creative foresight and a good stomach not afraid to stand against a crowd. Conviction, patience, diligence: These are more important than secrets (or travel, for that matter).
I'm a big believer in history as a teacher. Sometimes, the best history books don't come from the desks of historians. ...
