International equities: Finding value in Europe vs. Japan
International equities: Finding value in Europe vs. Japan
Portfolio Manager Eric Liu explains why he sees more value opportunities in Europe – despite low investor interest – than he does in Japan.
- Why a wall of money that flocked to US stocks has come out of international stocks.
- Why being underweight international equities, due to historical underperformance, is a mistake for investors.
- Why the opportunity set in international equities is not only larger, but the valuations are significantly lower than they are in the United States.
- How China has been delivering a wall of money to Japan, which is a positive for the region.
- Why it’s still hard to find value in Japan due to the return on equity and a PE multiple that has gone from 12xPE to 16xPE.
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