International Investment Update for August
Spotting Trends expert Michael Keppler continually researches every major global stock market 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 these to each global major stock market
history and from this develops his global major stock market value strategy. Here is his most recent review.
International Investment Recent Developments & Outlook
International investment equity markets experienced their highest
monthly gain since December 2003. For the month, the Morgan Stanley Capital International
(MSCI) World Total Return Index advanced 3.8 % in local currencies, 3.5 % in US
dollars and 3.2 % in euros.
Year to date the MSCI World TR Index has advanced 7.2 %, 2.8
% and 15 % in local currencies, US dollars and euros respectively.
All eighteen international investment markets covered advanced
both in the month and year to date. Germany (+6.6 %), Singapore (+6 %) and Hong
Kong (+5.8 %) gained most (in local currency). The Netherlands (+1.7 %), Japan
(+2.2 %) and Australia (+2.7 %) had the lowest monthly gain.
Year to date Norway (+28.2 %), Austria (+25.2 %) and Denmark
(+24 %) gained most of any international investment market, while the United States
(+3 %), Japan (+4 %) and Hong Kong (+9.5 %) came in last.
The Top Value Model Portfolio based on the Top Value Strategy
using national MSCI country indices as hypothetical investment vehicles, finished
+4.3 % for the month in local currencies, +4.7 % in US dollars and 4.4 % in euro
outperforming the MSCI World Total Return Index by 0.5 percentage points in local
currencies and by 1.2 percentage points both in US dollars and in euros.
International Investment Performance
Year to date, the Top Value Model Portfolio advanced 18.4 %
in local currencies, 6.4 % in US dollar and 19.1 % in euros.
There are no changes in our performance ratings this month.
The Top Value Model Portfolio contains Belgium, Denmark, France, Germany, Italy,
the Netherlands and Norway at equal weights.
Learn more in English about Norway at the Norway
One of Keppler's top rated markets this month is Norway. Gain
details about the Oslo
International Investment Risk Rated Returns
Keppler's current ratings suggest that these markets offer
the highest expectation of risk-adjusted returns.
You can get ideas on shares in these top value major global
stock markets from Thomas Fischer at FISCHER@jyskebank.dk
For more details on Keppler's analysis, contact Michael Keppler