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Schroders Equity Lens December 2024: your go-to guide to global equity markets
The case for and against continued US exceptionalism.
Ler o relatório completoSchroders Equity Lens - December 2024
61 pages
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The December edition of the Schroders Equity Lens is now available. This month’s pack covers a series of slides on the case for and against continued US stock market exceptionalism: Schroders Equity Lens
Summary:
- US stocks are very expensive, some sentiment measures are bullish in the extreme, and you own an LOT of them (slides 5-15)
- This is problematic (and inflationary risks of Trump policies should not be discounted) but:
- US stocks also have a lot going for them (slides 16-24)
- other global markets have their own issues e.g. France, Germany, UK, China, Korea.
- hard to see a catalyst for acceleration vs the US
- Consider diversifying to manage US risk rather than take a strongly negative view on the US:
- small and mid-caps, and value stocks, are cheaper and geared to US domestic strength
- international stocks are even cheaper and many individual companies outside the US are performing well
- active approaches within large caps can beef up exposure to (relatively cheaper) smaller companies within the large cap market
Chart of the month:
Ler o relatório completoSchroders Equity Lens - December 2024
61 pages
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