Below we show the percent of stocks in each MSCI developed market region with positive YTD performance in USD terms. One aiming for a high probability of picking a winning stock would have been well served to avoid Europe this year, and this is becoming increasingly true of Asia.
After a tough start to the year the percent of stocks in the MSCI World Index showing YTD gains rose steadily from less than 30% in February to nearly 80% in July.
You all remember March 6th, 2009, right?
Last month we mentioned how world inflation had reached a 56-month low. Well, the latest data (through August) shows world inflation, by our simple average of 33 countries year-over-year change in CPI, is creeping lower again. The latest reading stands at 1.65%.
The health care sector has undeniably been the stock market leader over the past four years. Looking at the Developed Markets (DM) and Emerging Markets (EM) together, the health care sector has returned 122.4% over the past four years. Besting, the second place consumer discretionary sector by over 22%.
We have introduced our knowledge leader concept to our readers over the past few weeks (click here, here, here and here for more information). Today, we thought we would check in on how knowledge leaders (i.e. leading, innovative firms with a deep intangible capital reservoir) have done relative to knowledge followers (i.e.
The Q-ratio, which is simply the equity market value of nonfarm, nonfinancial businesses divided by the net worth of those businesses, is at it’s highest level since December 2000. Since 1945, the average level is 0.70. The current reading is over 1 standard deviation above the nearly 70-year average.
When it comes to global equity returns, the financial sector matters for one simple reason: financial stocks dominate global stock exchanges.
GaveKal Capital’s Jennifer Thomson examines recent trends in European cyclical stocks, suggesting caution may be warranted when considering investment in this group.
NYSE margin debt still hasn’t surpassed the all-time high made in in February but it is very close! Margin debt rose by about $3 billion in August and is only $2 billion below the all-time high set in February. Net margin debt inched higher and set another all-time high in August.