handing undeneath a hovering globe

Global Stocks: Winners and Losers (Part 3)

As mentioned earlier, price (valuation) appreciation might be logical provided that corporate earnings have kept up (or exceeded) with that price appreciation. When you put together price appreciation with growth in corporate profits for different global markets, you get some interesting, even surprising, conclusions. The table below sums the results.  A positive number (“Rerating”) means  Read more ➝

Global Stocks: Corporate Profits and How Much You Pay for Them Are Key (Part 1)

In terms of absolute returns, the United States has dominated the rest of the world.  It is also a very expensive market, although not the most overvalued by one key measure. Our asset allocation has favored the United States and Japan at the expense of Europe and Emerging Markets.  A long-term perspective on corporate profits  Read more ➝