Although accounting for a ~+2% currency advantage over US indexes and for an annual +5%-6% equity (stocks) advantage over US stocks, in general,
all that means is that the DAX will sink somewhat slower/less than it's US counterparts. E.g. one should sell this - SHORT -, freely here, as well.
all that means is that the DAX will sink somewhat slower/less than it's US counterparts. E.g. one should sell this - SHORT -, freely here, as well.
註釋
The difference between U.S. and international valuations is at near-record levels.hussmanfunds.com/wp-content/uploads/research/rs200705a.png
Here are the CAPE Ratios
hussmanfunds.com/wp-content/uploads/research/rs200705b.png
... and the Sector Weights US vs. International markets.
hussmanfunds.com/wp-content/uploads/research/rs200705c.png
The Euro valuation and subsequent returns;
hussmanfunds.com/wp-content/uploads/research/rs200705e.png
Growth in profitability and earnings versus index returns;
hussmanfunds.com/wp-content/uploads/research/rs200705j.png
Global Stock Markets versus the US;
hussmanfunds.com/wp-content/uploads/research/rs200705k.png
Relative valuations and subsequent 10-year returns;
hussmanfunds.com/wp-content/uploads/research/rs200705n.png
... And most importantly, the Percent of Total Market Capitalization of Developed Markets (ex-Japan)
hussmanfunds.com/wp-content/uploads/research/rs200705p.png
(All graphs thanks to Hussman Strategic Advisors)
註釋
What all of the above adds up to is that, as far as full-cycle, equity investments are concerned, the US is in worse shape than the rest of the developed, international markets. However, this all being a race to the bottom, it could end up being a difference without a distinction. (...and Traders shouldn't concern themselves too much with the fundamentals, anyways. Just keep selling the "flavor of the day"!)註釋
Wanna see the (imminent) future fate of Wall Street's "check mark shaped economic recovery"??...[ Dr. ] Copper Weekly; "The base metal of economic expansions".
Has anyone ever seen an RSI Divergence ( the size of Montana) like this one, not to mention that perfect, massive H & S on the same RSI? - Text book.
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