You’ve heard of a diversified portfolio. Your financial advisor may have even encouraged you to invest in foreign stocks — usually Europe and China.
But how many people have shopped for real estate in Uzbekistan? How many Americans could even find Uzbekistan on the map?
But that’s exactly what Ladislas Maurice, known professionally as “The Wandering Investor,” considered doing when he passed through three years ago.
“Uzbekistan is in Central Asia between Kazakhstan and Afghanistan,” Maurice said to Ricci Truong of the CamaPlan podcast. “I know , it sounds bad, but it’s actually really exciting from an investment point of view.”
Having spent his entire 20s working for Nestle in Africa, Maurice decided to kick off his 30s with a road trip from Oman to Paris, crossing little-known corners of Europe, the Middle East, and Central Asia.
On this eye-opening trip — which passed through the likes of Iran, Armenia, Georgia, Greece, Bulgaria, and Ukraine — Maurice began to understand what he refers to as “the opportunity cost of a full-time job.”
“The opportunity cost of having a full-time job,” he said, “is that you do not have enough time to dedicate to your own, to manage your own money and to opportunities on the side.”
So Maurice took his time, meeting lawyers, brokers, and real estate professionals at every stop. Over time, he began to acquire a truly global portfolio of assets under his direct control. He has done real estate deals in Western Europe, Eastern Europe, Central Europe, the Balkans, the Middle East, and Africa.
His investments afford him a diversified portfolio, as well as options — some of his investments entitle him to permanent residency in beautiful, low-tax corners of the world.
But Maurice invests globally for another reason — pleasure. Like the pleasure he feels owning a historic apartment in magnificent Budapest.
“It’s part of my core portfolio,” he said. “I don’t sell. I’m just very happy to own it. And it brings me a lot of pleasure.”
It’s a pleasure he hopes to help others discover, providing on his website — www.thewanderinginvestor.com — a free list of his favorite local lawyers, real estate agents, and investment professionals in his favorite cities to help them jump-start their research.
