"Martin Spring's On Target piece posted yesterday [Ed. Friday] was enlightening. Can the "Fuller Collective" suggest the simplest ways US investors can invest directly in Asian (or other progressing) economies? Many of Mr. Spring's recommendations are unavailable as ADRs. As another advisor suggested to me, "When a USA resident or citizen tries to open an account with a foreign bank or brokerage [the Hong Kong] brokerage panics and sends a 2-ton list of documents to provide." It would be useful to know of a simpler way, if any."

Eoin Treacy's view Thank you for this question which raises an issue a number of US subscribers have voiced over the last few months. I contacted a veteran subscriber at Deutsche Bank Securities in the USA for his input. Here is his insightful reply:

"The broker has no idea what he's talking about. I buy shares in Hong Kong, Singapore, Taiwan, Thailand, South Africa, Israel, London, Paris, Amsterdam, almost anywhere. You don't need a HK account to buy HK shares. Or anywhere else for that matter. It's purely an inexperienced broker with no knowledge of the overseas markets.

"We buy the locals and settle either USD or in the home currency. Lately I'm holding in home currency so I get delivered the currency in dividends.

"There are a few "closed" markets, where only large institutional investors can buy. Brazil and India are the most common of these."