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https://alluvial.substack.com/p/finding-value-in-faraway-places
I have a few thoughts on this piece, none of which lead towards anyone in the U.S. should be getting involved in this.
- There's a certain sense that investing in a company in Papua New Guinea that is generating massive returns on capital feels immoral. Where is this money coming from, and why are you taking it? Isn't this just a new form of colonialism?
- How much of this is, the stock market isn't real? Or, the stock market in the US actually is real but this one isn't. There are no "bid/ask" prices for many of these. There is no "price discovery". One company can trade at twice its value, another at half its value.