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Are International Equities Out of the Woods Yet?
International equities have been among the hardest hit during the market’s recent downturn.
I don’t know that I will be jumping on board anytime soon, but Citigroup (C) notes that at 10.3 times trailing earnings, world-wide stock valuations have tanked to levels worse than that of an 11.4 average for the 1970s.
To an extent, forward P/E ratios have lost some of their predictive value. After we have seen a slew of downward revisions by companies reporting their third-quarter earnings, these ratios have become moving targets.
A Downward Spiral
Country-focused ETFs have experienced quite the slide in 2008. The iShares MSCI United Kingdom Index…
5Nov2008 | Oxbury Research | Comments Off | Continued
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