Learning that drives better investment decisions

The Philippines Offers a Fast Growing Economy with Expensive Stocks to Boot

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At 6.6%, The Philippines has the second fastest GDP growth in Asia (only India’s is faster). Overall, it’s a moderately attractive market in Asia. The Philippines totes the highest valuation in Asia on a price-to-earnings basis at 21x in 2017CE*.

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As Cheap as It Is, Singapore Fails to Draw Interest

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Singapore’s GDP has been growing at a slow pace of late, 2.4% over the last four quarters. The market remains relatively cheap, considering its price-to-earnings ratio relative to Asia. Its PE is expected to sit below 15x for the year.

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Taiwan Yields Put Rest of Asia to Shame

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Taiwan’s GDP has been growing at a slow pace of late, 2.4% in the most recent quarter. Private consumption and investment have been the main contributors to GDP growth, but exports have put a slight drag on overall growth. Dividend yield remains the highest in Asia.

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Profits Beckon in the Emerald of the Equator

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Indonesia’s GDP has been growing at a rapid pace, 5% over the past year. Private consumption and investment have been the main contributors to GDP growth, while government consumption has been slightly reduced, despite the government’s big plans for infrastructure and energy investments over the next five years.

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Move Over Black Swans, the Gray Rhino Is Trampling Through

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In our Top 5 this week, we discover the gray rhinos we all face, look at overcoming overconfidence bias, and examine the state of world debt. All this and more…

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Korea Continues to Be the Most Attractive Market in Asia

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Overall, Korea is the most attractive in Asia, driven by massive earnings growth and good price momentum. The “Korea discount” also remains, the market is still cheapest in Asia.

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Info Tech Leads Asian Earnings Growth

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Chart of the Day: Info Tech is expected to grow the fastest in Asia, might be harder for US Tech giants to grow at 50%. Real Estate and Consumer Discretionary are contracting in the US but not in Asia.

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US Trades at a 40% Premium to Asia Ex Japan, but EPS Growth Is Less Than Half

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Chart of the Day: In 2015, US traded at 1.4x the Asia ex Japan PE, it narrowed to 1.25x in 2016, and then back to 1.4x in 2017. Analysts expect this 40% PE premium for US to persist in 2018-2019, do YOU?

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China Market Is Full of Large and Liquid Stocks

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Chart of the Day: A review of the top 900 largest and most liquid companies in China. Even the group with zero coverage has an average USD2bn market cap and USD26m ADTO.

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Same, Same But Different

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In our Top 5 this week, we discuss the future of active management, compare the same side of two coins, and examine the intangible nature of risk. All this and more…

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