International Investments Major Market Value Analysis January 2007

by | Feb 23, 2007 | Archives

International investments value analyst Michael Keppler, continually researches 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 on the value of international investments is rational, mathematical and does not worry about short ups and downs.

International Investments Success

In January, Keppler Asset Management was, for the third consecutive year, named Best Fund Company in the Fund Specialists’ category by Capital, a leading German business magazine. Keppler’s firm was one of only six out of 100 companies tested that received the highest five-star rating based on an independent evaluation of fund quality, management, and customer service by Feri Rating & Research and Steria Mummert Consulting.

International Investments Summary

Here is an international investments value summary of Keppler’s current comments on recent developments & outlook in international major markets.

Recent Developments & Outlook on international investments value

In January 2007, global equities continued their recent strength with an eighth consecutive winning month.

The Morgan Stanley Capital International (MSCI) World Total Return Index advanced 1.8 % in local currencies, 1.2 % in US dollars and 2.7 % in euros.

Measured in local currencies, seventeen international investments markets advanced in January, one market declined. The winners were led by Norway (+4.8 %), Denmark (+4.3 %) and Switzerland (+4.1 %). The United Kingdom, the only losing market (-0.2 %), Canada (+1.1 %) and Italy (+1.4 %) fared worst.

There were no losing international investments markets over the last 13 months. Compared with end-of-2005 levels, Singapore performed best with a gain of 41%, followed by Norway (+39.8%) and Spain (+38.2%). The smallest total returns over the last 13 months were recorded in Japan(+9.8%), the United Kingdom (+14.4%) and the US (+16.7%). Due to its weak currency, Japan was the only market with a negative total return over this period, if performance is calculated in euros.

Over the last 13 months, the Top Value Strategy returned 27% in local currencies, 37.7% in US dollars and 25% in euros, outperforming its benchmark — the capitalization-weighted MSCI World Index — by a whopping margin of 9.4 percentage points in local currencies, 16.2 percentage points in US dollars and 14.7 percentage points in euros.

There are two changes in our international investments performance ratings this month: Singapore is downgraded to “Neutral” from “Buy” and the United Kingdom is upgraded to “Buy” from “Neutral”. Singapore was added at the end of December 2005.

During the 13 months Singapore was held in the Top Value Model Portfolio, the MSCI Singapore Total Return Index grew from 2,699 to 3,805, a compound annual gain of 37.2 %. By comparison, the MSCI World Total Return Index advanced at a compound annual rate of 16.1 % during the same 13 months. Singapore is no longer attractive based on our analyses.

After implementation of the new changes, the Top Value Model Portfolio contains Belgium, France, Germany, Italy, the Netherlands, Spain and the United Kingdom at equal weights.

SELL CANDIDATES (Low Value: Austria, Canada, Denmark, Japan, Switzerland, U.S.A.

NEUTRALLY RATED MARKETS: Australia, Hong Kong, Norway, Singapore, Sweden

For more details on Keppler’s analysis, contact Roderick Cameron at 1-212-245-4304 or email

You can get ideas on shares in these top value emerging stock markets from Thomas Fischer at Jyske Bank at

Jyske Bank uses an international investments good value system as well and their affiliated fund management company has been rated number one by Morningstar. They use this value system to help us select shares for Multi-Currency Portfolio Educational Tracking Service. This has worked pretty well. In 2006 the mainly equity portfolios we tracked rose 42.93% (Emerging Market) and 114.16% (Asia Emerging Market) in a year.

Jyske Bank is the second largest Danish bank, with 450,000 domestic clients, 35,000 international clients, USD 23 Billion in total assets, and a moody’s rating of A1.

We develop five portfolios for educational purposes once a year in cooperation with Jyske Bank’s Private Banking division.

Jyske Bank Private Banking division is a business unit of the Jyske Bank Group, and they cater exclusively for international private investors from 180 different countries. They have offices in Copenhagen, Switzerland and Gibraltar and Fuengirola, Cannes and Warsaw.

Jyske Bank is one of the most experienced currency trading banks in the world and trades 24 hours a day. Many bank’s use Jyske Bank as their currency trader.

Jyske has over 35 years’ specialization in private banking and Denmark is ranked by Moody’s as the safest country in the world to have a bank account in.

The international investments portfolios we set up at Jyske and track for educational experience performed Nov. 2005 to Nov. 2006.

US Dollar Long 9.04%
US Dollar Short 10.43%
US Dollar Hedge 11.46%
Emerging Market 42.93%
Asia Emerging Market 114.16%

We formed new international investments portfolios in Nov. 1 last year and as of Feb 15, 2007 the five updated 2007 is

December 29, 2006
January 30, 2007
February 15, 2007
Swiss Samba
Dollar Neutral
Emerging Market
Dollar Short


You can learn why this performance has taken place in a sixteen page email report about how 13 economic forces now clash to shape investments markets ahead that show the rewards and the risks. The report also outlines the five new Multi-Currency Portfolios we are tracking in our Borrow Low-Deposit High Multi-Currency Sandwich Educational Service. Details are at

Until next message, may all your international investments be good.


P.S. Join us in the Ecuador sun this winter. Here is a schedule of the courses Merri and I will sponsor and or conduct.

Mar. 16 -18, Fri.-Sun. International Investments & Business and Made EZ.

Mar. 19 – 21, Mon.-Wed. Andes Extension & Real Estate Tour.