Emerging-Market Investing -- How the Pros Do It

By Ben Steverman - 2011-12-09T17:28:30Z

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The Art of the Interview

"The true art" of being an emerging-market investor, says Donald Elefson, is putting "uneasy management at ease." Business executives are often "scared of foreign investors," says the manager of the Harding Loevner Frontier Emerging Markets Portfolio (HLFMX). "When people are frightened, they clam up." The key is avoiding blunt questions that "put them in a situation where they lose face or are embarrassed." He starts with easy questions and broaches tough topics carefully. "It's how you set the tone," he says.

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