A recent multi currency update Economic Collapse looked at how there is growing risk and  chance of economic collapse.

Every investment adviser I work with is nervous… the stock market rose dramatically in 2009… perhaps beyond good value.

Investors must protect themselves now and one way to do so… if you have time to let the fundamentals work for you, is by investing in good value.

This is always a good approach to investing… but even more important now.

This multi currency update focuses on which major equity markets offer the best value according t the analysis of Michael Keppler’s just released three month Major Market Value Analysis.

If you are a new multi currency subscriber learn about Keppler Asset management here.

Major Markets equities finished the last quarter on a strong note and the year 2009 with the best one-year returns of the decade.

Last quarter, the Morgan Stanley Capital International (MSCI) World Index (with net dividends reinvested, advanced 4.1 % in US dollars and 6 % in
euros.

In 2009, the benchmark for global equities soared 30 % in US dollars and 25.9 in euros.

The euro finished the year 2009 at 1.3901 versus the US dollar — down 1.8 % last quarter and up 3.2 % from 1.3901 at the end of 2008.

While there was no place to hide in 2008, when all major markets covered here declined both during the fourth quarter and year over year, 2009 turned out to be a mirror image of 2008.

During the fourth quarter fifteen markets advanced and three declined. While all Major Markets had declined in 2008, all markets advanced in calendar-year
2009.

The best performing markets were Singapore (+69.5 %), Hong Kong (+60.2 %) and Norway (+54.3 %).

Japan (+9.1 %), Germany (+21.3 %) and Switzerland (+21.7 %) came in at the bottom of the performance range.

All performance figures are in local currencies, unless mentioned otherwise.

There were no changes in Keppler’s  Top Value Model Portfolio which currently contains the six “Buy”-rated countries Austria, France, Germany, Italy, Singapore and the United Kingdom at equal weights.

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

Neutral value markets are Australia, Japan, Netherlands, Spain and Sweden.

Due to its rapid appreciation, Keppler’s analysis shows that Norway has downgraded from neutral to sell.

The low value (sell) markets are: Canada, Belgium,  Denmark, Hong Kong, Norway, Switzerland and USA.

Gary

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