Rich in natural resources like coal and copper, landlocked Mongolia holds a significant investment opportunity according to Bill Fleckenstein president of Flecksenstein Capital.
Fleckenstein who sits on the board of the Mongolian Growth Group, a conglomerate that focuses on real estate, insurance and asset management, spoke with Betty Liu on Bloomberg TV on investing in Mongolia over developed countries:
“The Western world has had a debt orgy that has built up over 20 years and Europe and the United States and a couple of other countries have sort of ruined their economies for a while, until the debt gets restructured or inflated away but the developing world is doing quite well… and little Mongolia is liable to do the best of all.”
While there is money to be gained through mining, Fleckenstein says his company has steered clear of mining and has invested in real estate and insurance in the capital city of Ulan Bator instead, where half of Mongolia’s population is based.
Watch the entire interview at Bloomberg TV: