Spotting good international investments requires spotting good value. Our friend, Michael Keppler, continually researches many international major stock markets and compares their value based on current book to price, cash flow to price, earnings to price, average dividend yield, return on equity and cash flow return. He compares each major stock market’s history. From this he develops his Good Value Major Stock Market Strategy. His analysis is rational, mathematical and does not worry about short ups and downs.
After their correction in May, global equity markets have had four consecutive winning months from June through September. Last month, the Morgan Stanley Capital International (MSCI) World Total Return Index advanced 1.2 % in US dollars and 2.3 % in euros.
The major markets equity benchmark finished the month just 0.3 % short from its all-time high reached in March 2000.
Year-to-date the MSCI World Index gained 10.8 % in US dollars and 3.2 % in euros. What a difference the currency in which performance is measured makes! I have to remind our European friends not to get jealous over our new all-time high of the Dow Jones Industrials Index. If you adjust the DAX for the 35 % rise in the euro over the US dollar since March 2000, the DAX would stand at 8,200 — also a new all-time high!
Fifteen markets had positive returns and three markets declined during the month.
The biggest gainers last month were Spain (+6.4 %), Sweden (+6 %) and Belgium (+4.5 %).
Norway (-3.9 %),Canada (-2.5 %) and Japan (-1 %) declined.
Year-to-date (through the end of September) all markets covered here advanced. Spain performed best with a 21.7 % gain, followed by Belgium (+15.5 %) and Hong Kong (+14.4 %).
The laggards so far this year have been Japan (+1.2 %), Canada (+5.1 %) and Austria (+7 %).
Year to date the Top Value Model Portfolio gained 13.4 % in local currencies, 20.5 % in US dollars and 12.2 % in euros, outperforming the benchmark by between 5.4 and 9.7 percentage points, depending on the currency in which the performance is measured.
There are no changes in our performance ratings this month. The Top Value Model Portfolio contains Belgium, France, Germany, Hong Kong, Italy, the Netherlands and Singapore at equal weights.
SELL CANDIDATES include Austria, Canada, Denmark, Japan, Switzerland, U.S.A.
NEUTRALLY RATED MARKETS, Australia, Norway, Spain, Sweden, United Kingdom
You can get ideas on shares in these top value emerging stock markets from Thomas Fischer at Fischer@jbpb.dk
For more details on Keppler’s analysis, contact Roderick Cameron at 1-212-245-4304 or email email@example.com
Real estate prices continue to rise in this area but prices are still incredibly low compared to other areas around the world. Here are some listings available now.
Here are some interesting new listings.
1. 2 Subdivision lots totaling 11.5acres. With 400 feet of river frontage. Multiple building sites with river mountain and pastoral views. $150,000.
Not too many lots have water frontage and long range views.
2. Now for all of you who have been looking at some of the Ashe Lake lots that are available here is a real find! PEACEFUL LAKEFRONT PROPERTY surrounded by nature’s beauty. Private steps from the back patio lead all the way to the lake. Enjoy fishing or docking from your own private pier. This 2 bedroom 2 bath home offers privacy and a gorgeous view. Home is equipped with ADT security. $160,000
3. And lastly this 3 bedroom 2.5 bath brick home joins Mt. Aire Golf Course! Beautiful home in park-like setting. Low maintenance with lots of landscaping. Kitchen with maple cabinetry & breakfast nook, separate dining, pantry & storage. $385,000.
You can learn more from Trey Morrison at firstname.lastname@example.org
Join Merri, Currency Experts from Jyske Bank and me at our next International Business and Investing Made EZ course in Ecuador. We now have only a few seats left. Review which current markets offer good value. Meet Steve, our man in Ecuador, and learn about products to export. Meet Dr. Andres Cordova and learn about owning real estate in the Galapagos. Go to https://www.garyascott.com/catalog/IBEZec/
Until next message, may all your investments be top value!
P.S. Double your profit potential with the MultiCurrency Sandwich. Leverage investments in top value markets. See https://www.garyascott.com/catalog/bldh.html