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Today\u2019s guest is Tina Vandersteel, who is the head of GMO\u2019s Emerging Country Debt team. She\u2019s been with GMO for almost two decades.\nIn today\u2019s episode, we dive into Tina\u2019s teams\u2019 recent piece about what they call a possible \u201conce-in-a-generation opportunity\u201d in emerging market local currency debt. Tina gives a great overview of the emerging market debt asset class and then we dive into the reasons behind her team\u2019s call. She shares why today is reminiscent of 2004 and how she thinks about things like liquidity panics and sanctions risk. And you won\u2019t want to miss her hot take on China.\nIt\u2019s not often you see the words \u2018once-in-a-generation\u2019 from a well-respected shop like GMO so I\u2019m excited for you all to listen in.\n(1:27) - Welcome Tina to the show\n(2:08) - Overview of emerging market debt\n(4:27) - What are Brady Bonds?\n(7:53) - Delving into sovereign debt issues\n(11:29) - No Stone Unturned\n(12:58) - The overvalued US dollar\n(25:00) - China\u2019s place in emerging debt markets\n(29:33) - Identifying countries at risk of default\n(37:35) - Highlighting opportunities arising from geopolitical events\n(42:12) - Tina\u2019s most memorable investment\n(47:00) - Sharing Tina\u2019s most controversial viewpoint\n\n-----\nFollow Meb on Twitter, LinkedIn and YouTube\nFor detailed show notes, click here\nTo learn more about our funds and follow us, subscribe to our\xa0mailing list\xa0or visit us at cambriainvestments.com\n-----\nSponsor: Today\u2019s episode is sponsored by\xa0The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world\u2019s largest institutions, funds, and money managers. Subscribe for free\xa0here.\nFollow The Idea Farm:\xa0Twitter\xa0|\xa0LinkedIn\xa0|\xa0Instagram\xa0|\xa0Tik Tok\n-----\nInterested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com\n-----\nPast guests include\xa0Ed Thorp,\xa0Richard Thaler,\xa0Jeremy Grantham,\xa0Joel Greenblatt,\xa0Campbell Harvey,\xa0Ivy Zelman,\xa0Kathryn Kaminski,\xa0Jason Calacanis,\xa0Whitney Baker,\xa0Aswath Damodaran,\xa0Howard Marks,\xa0Tom Barton, and many more.\xa0\n-----\nMeb's invested in some awesome startups that have passed along discounts to our listeners. Check them out\xa0here!\xa0\nLearn more about your ad choices. Visit megaphone.fm/adchoices