Is it Time for U.S. Investors to Reconsider International Stocks?
Developed (ex-U.S.) and emerging market stocks had a rather lackluster performance in 2024 and now trail U.S. equities by substantial margins over three, five and 10 years. The MSCI EAFE Index, a widely used benchmark for international developed markets, posted a total return of 4.3% in 2024, and is up just 6.6% on a cumulative […]
China Pivots and Finally Aims Stimulus at the Source of its Economic Crisis
Investors should focus less on the magnitude of the measures announced by the government, and more on what they reveal about its intent. After three years of incremental measures to manage the fallout from its real estate crisis and stimulate the manufacturing and export-oriented sectors of its economy, China’s central government did a hard pivot […]
Chinese Sports Apparel Brands Challenge Global Giants in Home Market
ANTA Sports Products and BIEM.L. FDLKK Garment Co. are clear beneficiaries of Chinese consumers’ shift toward domestic brands.
MarketGrader Indexes – 2023 Performance Review
MarketGrader’s stock selection methodology shone in 2023, as 75% of our indexes outperformed their benchmarks in what turned out to be a strong year for most equity markets around the world.
China’s Economy Is Transforming – Not in Secular Decline
Investors in Chinese equities should move past macroeconomic concerns and focus instead on the country’s technological transformation.
Chinese Equities: Positioned for a Rebound
Part 1 of 3. The Tactical Case for China With 2022 coming to an end, global equity investors will be happy to bid farewell to what has been one of the most challenging years in the past two decades. The global repricing of risk assets as a result of tighter monetary policies emanating from most […]
What Happens Next in China?
Our Take on the 20th Party Congress of the Chinese Communist Party Clarity is perhaps the last thing one might expect to emerge from a highly secretive, carefully choreographed, twice-a-decade gathering of the world’s largest communist party; yet, for better or worse, that is exactly what investors got this weekend. Xi Jinping has consolidated power […]
Private Pension Plans: A New Tailwind for Chinese Equities
For most investors in Chinese stocks, 2022’s first half was mostly about the government’s zero-Covid policy and the country’s decelerating economy, and for good reason as we have written before. However, for long-term investors, the most significant news out of China in 2022 could prove to be the April launch of the long-anticipated “third pillar” […]
Policy Mistakes Trip Chinese Markets
China’s Damaging Lockdowns Are Informed by Hong Kong’s Deadly Experience Stock market routs in China have usually been preceded by policy mistakes and the latest one is no exception. Government policy mistakes are not limited to China, of course. The world’s current bout of inflation, its worst in 40 years, has been largely a result […]
