What Might Work On Wall Street

The emerging markets have collapsed. This we know, as does everyone. At some point they will rebound. When, we don't know. There are plenty of guest on CNBC and Bloomberg that can give you the exact date.

We are too dumb, or rather too realistc to even guess. The market will do what she wants to do.

We do believe that emerging markets will be the future. W also know that Americans don't travel and don't speak foreign languages. Especially not financiers. Oh sure they are happy to buy Gazprom, Petrobras, L'Oreal, and any number of Japanese stocks. But have them visit the country and force them to leave their room at the Grand Hyatt in Tokyo or Radisson in Moscow and our fund analyst is totally stumped. He doesn't speak or understand a lick of the native language.

So how about actually learning one? if you speak English, you have an advantage as English is the international language of business.

While many of the world's elite politicians and business leaders are U.S. educated and well versed in English (especially in the Middle East and India) we find this to be far less so in Japan, Russia and FSU.

We have all heard the call to learn Mandarin. This makes sense as it is the Chinese Century.

We also advise French, Spanish, Portuguese, Japanese, Russian and Gulf Arabic.

Why French? it is the language of diplomacy and is spoken by elites globally. Besides France, Monaco, Switzerland and Quebec it is spoken in Lebanon, Algeria, Tunisia, Morocco and over a dozen West and Central Africa countries. For those adventuresome analysts looking to do work in Africa, French is essential.

South America has an abundance of natural resources. Indeed, almost all natural resources found in Africa and the Former Soviet Union ex diamonds, platinum and palladium is found in South America. South America also boasts the Guarani Aquifer, one of the world's largest fresh water Aquifers. Brazil has been referred to as the "Saudi Arabia of water."

Portuguese is spoken not only in Portugal, but is an excellent choice for those wanting to do business in or analyze Brazilian stocks. Portuguese is also an official language in resource rich Angola. It is spoken in Mozambique.

Why Japanese? Well, the older Japanese often don't speak English. Better yet, as of the end of October 2008, Japanese small caps are the value investors paradise. The MSCI Small Cap Japan index was trading at 0.7 times book value. And guess what, the financial statements are often only in Japanese? So you have a leg up on your competitors.

We also note the opportunities to use Russian in Russia, Ukraine, Serbia, Kazakhstan, Turkmenistan, even Mongolia, not to mention other smaller FSU states. The resource riches of the area have been told many times.

So go ahead, expand your horizons. Learn a new language. You will acquire a skill for life, be more likely to travel, and make new friends along the way.