November 11, 2025

#48 - Ethos Investment Management founder & CIO James Fletcher on Emerging Markets, Boots-on-the-Ground Alpha, and Building the Next Generation of Investors (recorded 11/10/25)

51 minutes

In this episode, emerging markets specialist and Ethos Investment Management founder James Fletcher joins host Jim Worden to unpack how “Warren Buffett-style” investing can thrive in inefficient markets, and why pairing returns with real-world impact can be a durable edge. James shares how Ethos uses a global network of locally based analysts and BYU Pathway graduates to uncover under-covered opportunities, and how Young Investor Society grew from one inner-city classroom to 3,400 high schools in 80 countries.

What you’ll learn:

How a boots-on-the-ground research model uncovers alpha in emerging markets
Why small- and mid-cap stocks in places like India, the Philippines, Kenya, and Poland are so inefficient
How the Ethos Pathway Fund structure ties management fees directly to funding analysts from underprivileged backgrounds
The origin and global reach of Young Investor Society, and why high school students can be serious equity analysts
Where James sees the most compelling EM opportunities over the next 3–5 years (India, Southeast Asia, “Mag-7-adjacent” tech in Taiwan & Korea)
His nuanced take on China, EVs, and domestic champions vs. multinationals

Chapters:

02:05 – From Brazil mission to emerging markets investor: James’ path to Ethos

04:00 – Launching Ethos and building a locally based analyst team

07:00 – BYU Pathway and the Ethos internship: turning education into alpha

14:05 – Young Investor Society: from one LA classroom to a global program

29:00 – Real-world examples: Philippine ports, Kenyan telecoms, and finding mispriced quality

31:20 – Accessing India and other hard-to-reach markets

34:20 – EM vs. US: currencies, valuations, and why James is bullish on EM now

38:50 – China, EVs, and the rise of domestic champions

46:55 – Scaling the Pathway model and what’s next for Ethos

49:20 – How advisors and investors can think about EM allocations and get involved

Guest: James Fletcher, Founder & Chief Investment Officer, Ethos Investment Management

Host: Jim Worden, Chief Investment Officer, The Wealth Consulting Group

LinkedIn: The Wealth Consulting Group

X (Twitter): @WealthCG

YouTube: @thewealthconsultinggroup

Making Life Better at The Wealth Consulting Group

If you’re ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice—and your life—better.

Subscribe at bit.ly/wealthcg

...more

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By The Bull of Wall Street

November 11, 2025

#48 - Ethos Investment Management founder & CIO James Fletcher on Emerging Markets, Boots-on-the-Ground Alpha, and Building the Next Generation of Investors (recorded 11/10/25)

51 minutes

What you’ll learn:

How a boots-on-the-ground research model uncovers alpha in emerging markets
Why small- and mid-cap stocks in places like India, the Philippines, Kenya, and Poland are so inefficient
How the Ethos Pathway Fund structure ties management fees directly to funding analysts from underprivileged backgrounds
The origin and global reach of Young Investor Society, and why high school students can be serious equity analysts
Where James sees the most compelling EM opportunities over the next 3–5 years (India, Southeast Asia, “Mag-7-adjacent” tech in Taiwan & Korea)
His nuanced take on China, EVs, and domestic champions vs. multinationals

Chapters:

02:05 – From Brazil mission to emerging markets investor: James’ path to Ethos

04:00 – Launching Ethos and building a locally based analyst team

07:00 – BYU Pathway and the Ethos internship: turning education into alpha

14:05 – Young Investor Society: from one LA classroom to a global program

29:00 – Real-world examples: Philippine ports, Kenyan telecoms, and finding mispriced quality

31:20 – Accessing India and other hard-to-reach markets

34:20 – EM vs. US: currencies, valuations, and why James is bullish on EM now

38:50 – China, EVs, and the rise of domestic champions

46:55 – Scaling the Pathway model and what’s next for Ethos

49:20 – How advisors and investors can think about EM allocations and get involved

Guest: James Fletcher, Founder & Chief Investment Officer, Ethos Investment Management

Host: Jim Worden, Chief Investment Officer, The Wealth Consulting Group

LinkedIn: The Wealth Consulting Group

X (Twitter): @WealthCG

YouTube: @thewealthconsultinggroup

Making Life Better at The Wealth Consulting Group

If you’re ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice—and your life—better.

Subscribe at bit.ly/wealthcg

...more

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#48 - Ethos Investment Management founder & CIO James Fletcher on Emerging Markets, Boots-on-the-Ground Alpha, and Building the Next Generation of Investors (recorded 11/10/25)

#48 - Ethos Investment Management founder & CIO James Fletcher on Emerging Markets, Boots-on-the-Ground Alpha, and Building the Next Generation of Investors (recorded 11/10/25)