Multi Currency Update #21 – June Good Value Markets

by | Jun 13, 2008 | Multi Currency Investing

Multi Currency Update #21 – Good Value Multi Currency Markets.

Global stock market value analysis June 2008.

Global stock market values can help create good multi currency investments.

Once a month we review Michael’s Keppler’s global stock market value analysis with you.

The best way to create long term multi currency investment profits is to get good value in the global shares you buy.

One way we keep track of global stock market value is to follow the analysis of our friend, Michael Keppler. Michael continually researches global 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 global stock market’s history. From this he develops his Good Value Global Stock Market Value Strategy. His analysis is rational, mathematical and does not worry about short ups and downs.

In my opinion, he is one of the best market statisticians in the world.

Numerous very large fund managers use his global stock market value analysis to manage funds.

In January, his company, 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.

Once a month we share Michael’s global stock market value analysis with you.

Here is a summary of Keppler’s current comments on recent developments & outlook in global stock markets.

Recent Developments & Outlook

The developed equity markets continued their recent recovery in May. The Morgan Stanley Capital International (MSCI) World Total Return Index (with net dividends reinvested, December 1984 = 100) advanced 1.6 % in local currencies, 1.5 % in US dollars and 1.7 % in euros.

Thirteen markets advanced and four declined in May.

Norway (+7.3 %), Denmark (+6.4 %) and Canada (+6.1 %) were the best monthly performers.

Belgium (-5.2 %), Spain (-0.8 %), Hong Kong and the United Kingdom (both down 0.4 %) declined most.

Year-to-date, only two markets are up, while sixteen are down.

The best performing markets over the last five months were Canada (+8.9 %), Norway (+2.1 %) and Denmark (-0.6 %).

Hong Kong (-12.7 %), Germany (-12 %) and Italy (-11.9 %) performed worst year-to-date.

All performance numbers are in local currencies unless mentioned otherwise.

There is no change in Keppler’s performance ratings of the past several months.

The Top Value Model Portfolio contains Belgium, France, Germany, Italy, the Netherlands, Spain and the United Kingdom at equal weights.

Keppler’s current ratings suggest that these markets offer the highest expectation of risk-adjusted returns.

This means that if you find a share of interest and all other qualities are good, it has one more extra potential for appreciation if it is lisetd in one of these markets.

Keppler’s SELL CANDIDATES (Low Value) are: Austria , Canada, Denmark, Hong Kong, Singapore, Switzerland , U.S.A.

Keppler’s NEUTRALLY RATED MARKETS Australia , Japan , Norway , Sweden .

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

Until next message, may all you global investments be a good value.


In the last two months we have tripled our readerships so there are many subscribers who are not familiar with Keppler and how to use this analysis.

Please send me your questions.  Be sure to insert the letters “BL” in the subject line of emails you send so I can give your question priority.

Also remember you can obtain additional data every day from our daily ezine at no added cost. Sign up at

Join me with Thomas Fischer of Jyske Bank as we update global investments at our October 3-5 International Investing & Business Made EZ course in North Carolina