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fongfong2/iStock Editorial via Getty Images It's often said that investors typically view international companies with a discount in mind. That's an unfortunate oversight, especially when the S&P 500 is trading at all-time highs and is, at least in my view, in danger of a near-term correction. It's also misguided, especially when overseas companies - especially those operating in fast-growing developing markets - have much more long-term potential than their domestic counterparts.

There's nothing truly original about Grab ( NASDAQ: GRAB ). It's not going to win any innovation awards for basically being Uber 2.0 in Southeast Asia: but it's going to win from operational excellence.



The Singapore-based rideshare giant is so dominant in its home market that it forced Uber out in 2018 , and since then, like Uber, it has built a business that thrives on synergies between its rideshare and food delivery services. Year to date, shares of Grab have risen just shy of ~15%, matching Uber's performance. In my view, however, there's plenty of upside left to go.

Data by YCharts The bull case for Grab I'm initiating Grab at a buy (I'm long on Uber as well, but to me, Grab gives us completely different exposure to an entirely different and faster-growing market: akin to investing in Sea ( SE ) as well as in Amazon ( AMZN ). To me, here are the key tenets of the bull case for Grab: Grab operates in the fast-growing "tiger economies" of Southeast Asia. Population growth and economic developmen.

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