So, Sudarshan, you've been investing in emerging markets for quite some time now. Can you just talk to some of the structural changes even over the course of your career, you know, ten, twenty, even thirty years looking at the history and what's really changed in emerging market economies? Hey, look, I do feel that every five years or so, there's a new category of businesses that become investors favorite.
Twenty years back, if you go back, some of the, the favorite, investor names would have been the Hong Kong developer names, and China mobiles of the world. These are some of the must own stocks. If you go back ten years back, it was more of these Chinese internet names, that, people wanted to own. Right? So these things do change. More time.
I think the key is, as I was mentioning earlier, try to identify those businesses that that are showing good earnings growth because ultimate that's because ultimately, that's the that's the only only thing that matters. Right? We would never want to buy a stock thinking that alright. Somebody else is going to pay a higher multiple three to five years from now. Because that's a very hard, thing to figure out. For us to rather, you know, get a sense of what will be the earnings growth out
for the next five years. And base our decisions on that. But Sudarshan, just briefly outside of Brazil, India, and China, Are there any countries that are becoming increasingly more attractive today? Yeah. Look, Indonesia is another name. Which is benefited from a stable, progressive government. We actually like some of the international banks, because again, international banks, we can take a long term view on these businesses ten year plus view. And they should grow at a steady rate.
It's somewhat similar to Indian banks. Now, Indian banks will, of course, you know, will will more likely grow faster. But again, Indian banks, you can you can still take a ten year, view.