Most global stock markets got spanked in 2015. The average country lost about 10% (USD based investor.)
Using a value approach worked well however. The cheapest third of global stock markets outperformed the most expensive by about 5 percentage points. That is why I say value investing is as much about avoiding the expensive stuff as investing in the cheap…You still lost money though!
Below are the markets (as ranked by a valuation composite of long term ratios like CAPE) I sent to the Idea Farm at the start of the year.
I’ll send the new valuation ranks out to the Idea Farm list later this weekend.
