Skip to content

Foreign Stocks

Dec 07 2018

The Downside Leaders Look Familiar

  • Dec 7, 2018

It wouldn’t be a December Green Book without at least one page of hand-wringing over the year’s extreme underperformance of foreign stocks.

Apr 06 2018

The Foreign Stock Conundrum

  • Apr 6, 2018

A good rule of thumb for thematic and sector investors is that stock market leadership rarely repeats itself in consecutive cycles.

Apr 07 2017

Global Valuation Checkup

  • Apr 7, 2017

Foreign equities beat the U.S. in the first quarter, but the performance gap that’s opened up since the 2007 market highs remains astounding. While foreign equity valuations (especially within EM) have rebounded from February 2016 lows, the bounce has done little to close the enormous P/E discounts relative to the U.S. market.

Oct 07 2016

Foreign Equities: Cure For Altitude Sickness?

  • Oct 7, 2016

When we complain about the stock market’s inflated valuation levels, we’re unintentionally giving short shrift to the 50% of the global-market capitalization that resides outside the U.S. We’d be hard-pressed to describe the valuation of Developed foreign markets as any higher than neutral.

Aug 07 2014

Are There Better Values Abroad?

  • Aug 7, 2014

The United States’ large P/E premium relative to the rest of the world suggests that foreign equities should produce total returns of about two percentage points (annualized) above the U.S. over a seven to ten-year horizon.

Jan 08 2014

Buy The Bridesmaid, Not The One Looking To Rebound

  • Jan 8, 2014

The investment leadership of a given year has historically had better-than-even odds of outperforming in the following year at both the asset class and equity sector levels.

May 04 2012

VLT And Foreign Markets

  • May 4, 2012

Exploring VLT (Very Long Term) Momentum readings in foreign markets versus the S&P 500.

 

Feb 04 2009

The U.S. Is Leading The Foreign Markets, But For How Long?

  • Feb 4, 2009

· The U.S. is leading the foreign markets, but for how long?

 

Oct 05 1993

The Crowd Goes International

  • Oct 5, 1993

Savvy U.S. professional investors have been buying foreign stocks for a number of years now. Somewhat more recently, pension funds have been focusing on foreign diversification. Now mutual fund investors have become increasingly enamored with foreign stocks.

Feb 01 1989

The Investment Case for New Zealand Stocks

  • Feb 1, 1989

By traditional measures, the New Zealand stock market is the most undervalued market in the developed world. As of this issue we are incorporating a 6% package of New Zealand stocks into our asset allocation models, both the conventional and the unconventional.