The World is Cheap
I love this chart from Chris Konstantinos at RiverFront Investment Group. He’s showing us a record spread between what investors are willing to pay for US stocks vs International stocks on forward price-earnings ratio… Looking a 12-month forward P/E ratio at the MSCI All-Country World Ex-US index, we are currently at the largest valuation gap between US and non-US markets in the 15+ years of data to which we have access. Josh here – We remain unapologetically overweight anyth