The global economy is in tension as the US and Western European economies battle between inflation and deflation.
Who will win out? Will costs rise or will they fall? Whichever way events emerge, the best way to protect against loss is by always seeking value.
Value holds a special place for investors and business people… local or global because spotting value is another way of finding distortions. Distortions are vacuums and nature abhors a vacuum. Imbalances will always correct themselves. To have success in investing or business… one simply has to spot good value.
Understanding value is the tricky part.
This is why once a quarter we look at a major equity market valuation analysis by Michael Keppler.
If you are a new multi currency subscriber learn about Keppler Asset Management here.
Here are Keppler’s Comments on Major Market Value for this quarter.
After the first correction since March 2009 in the second quarter 2010, Global equities have resumed their upward trend in the third quarter.
The Morgan Stanley Capital International (MSCI) World Total Return Index (with net dividends reinvested, December 1969 = 100) advanced 9.3 % in local currencies, 13.8 % in US dollars and 2.1 % in Euros.
Year to date, the MSCI World Index gained 1.6 % in local currencies, 2.6 % in US dollars and 7.8 % in Euros.
The Euro had a strong comeback in the third quarter. It soared to 1.3652 versus the US dollar, up 11.5 % from its end-of-June level but still 4.8 % shy of 1.4348 — the level at which it stood at the end of 2009.
Twenty-two markets advanced in the third quarter and two markets declined.
Hong Kong (+21.5 %), Norway (+16.5 %) and Austria (+15.1 %) performed best.
Ireland (-13.5 %), Japan (-0.1 %) and Switzerland (+2.6 %) came in at the bottom.
Year-to-date, thirteen markets are up and eleven markets are down.
The best performing markets in the first nine months of 2010 were Denmark (+28.5 %), Hong Kong (+17.7 %) and Sweden (+17.4 %).
Greece (-35.5 %), Ireland (-19.2 %) and Spain (-10.1 %) performed worst year-to-date.
Performance numbers are in local currencies unless mentioned otherwise.
The Top Value Model Portfolio currently contains the following six “buy” rated countries at equal weights:
Austria, France, Germany, Italy, Singapore and the United Kingdom. Our current ratings suggest that a combination of these markets offers the highest expectation of long-term risk-adjusted returns.
As the chart below indicates, our implicit three-to-five-year projection for the average annual gain of the Equally-Weighted World Index now stands at 14.1 % slightly below our estimate of 14.3 % published here three months ago in our “Summer 2010 Quarterly”.
Given the 9.2 % appreciation of the Equally Weighted World Index in the third quarter, it is remarkable that our return estimates did not come down more. The reason is fundamentals have been improving throughout the year. Compared with their end of 2009 levels — which may have marked the bottom of the cycle — the 12-month trailing earnings and cash flows for the average equity market covered here are up 63.5 % and 24.7 %, respectively. In addition, the low interest rate environment continues to make stocks look attractive.
Keppler also shows major markets which he believes to be least statistically likely to appreciate.
SELL CANDIDATES
Belgium
Canada
Denmark
Hong Kong
Sweden
Switzerland
U.S.A.
NEUTRALLY RATED MARKETS
Australia
Finland
Greece
Ireland
Israel
Japan
Netherlands
New Zealand
Norway
Portugal
Spain
Through good times and bad… through inflation… deflation and steady economies value rises above all. We can never know for sure what will happen next… but we can know that when we find value our chances of a good return rise.
On the subject of value see news about real estate investing by one of the richest men in Ecuador here.
Gary
Learn about my two reports on how to find value here.
Belong to the International Club
Join Merri and me. Spread an epidemic of success… in health… wealth…. service to the community and personal fulfillment. Be infected with positive purpose…. enthusiasm… fulfillment… extra income, profits and fun.
I invite you to join the International Club for 2013-2014.
As a club member you save on seminars, courses, online courses plus Spanish lessons and Ecuador tour discounts.
Join Merri and me for all the courses and seminars that we’ll conduct in 2013 and 2014 FREE. Gain positive solutions to economic, financial and lifestyle developments.
Here are the courses you can attend at no cost.
August 31- Sept 1-2 Super Thinking Writer’s Camp West Jefferson, NC.
October 4-5-6 Super Thinking Writer’s Camp, West Jefferson, NC.
November 15-16-17 Super Thinking Writer’s Camp, Mt. Dora, Fl.
January 10-11-12, 2014 Super Thinking + Spanish, Mt. Dora, Fl.
February 14-15-16, 2014 Super Thinking Writer’s Camp, Mt. Dora Fl.
In addition members receive discounts on Ecuador farm tours and Spanish courses conducted by our Ateam Ecuador and Super Spanish teachers. For example Super Spanish courses that are normally $699 are $175. Ecuador real estate tours are reduced 20%.
Here is the Super Spanish teacher schedule:
June 21-22-23 Super Thinking + Spanish St. Charles, MO (Teacher Mark Frakes)
July 12-13-14 Super Thinking + Spanish Kelowna, BC, Canada (Teachers Shawn & Suzanne Bandick)
August 16-17-18 Super Thinking + Spanish St. Charles, MO (Teacher Mark Frakes)
September 27-28-29 Super Thinking + Spanish St. Charles, (Teacher Mark Frakes)
October 3-5 Super Thinking + Spanish Atlantic City NJ (Teacher Rick Brown)
November 21-22-23 Super Thinking + Spanish Puerto Aventuras, Mexico (Teachers Suzanne & Shawn Bandick)
We conduct our courses in the peace and quiet of Smalltown USA.
Part of the courses we conduct are held at Jefferson Landing where we conduct seminars in West Jefferson NC
Jefferson Landing
50 delegates joined us.
The seminar in action.
Here are photos I took of Mt. Dora…
After the seminar, International Club members join us at our home to talk with the speakers.
International Club members meeting in our home after a North Carolina seminar.
There are many benefits of membership.
Most members join us for at least three courses… one investing and business, one writers camp and one Spanish course. That alone creates a $1,198 savings. Some members attend every course plus more.
You (and a guest of your choice) can attend all of the seminars we have already set for 2013 and 2014 plus any others we decide to conduct in the year ahead FREE.
As a club member you also receive seven online reports, courses and workshops worth $1,246 FREE.
The first of these seven online courses is “Tangled Web – How to Have an Internet Business,” normally sold at $299.
The second is our online course “Self Fulfilled – How to be a Self Publisher”, which has a $299 value. I am sending you this extra course free as I think it will help you have greater success. This is an extra $299 savings.
The third is our online course “International Business Made EZ” sold at $299.
You also receive fourth the 50 minute video by our webmaster David Cross on “How to Get Your Web Business Started”.
Your fifth course is the 50+ lesson course “How to Create your Own Website Using Sitesell” by Michelle Toole. (We are proud that this course was written by a student of our courses showing how well the 43 years of knowledge that Merri and I have accumulated and put into these programs can help you start your own global micro business.)
Sixth, you become a beta member in our newest online course “Event – Full Business – How to have a Seminar and Tour Business” currently offered at $349.
When you enroll, we’ll send you a password that makes the online courses easy to access at the Club website. You can reserve as many seminars as you desire.
Five Positive Steps
Join Merri and me as we look at positive ways to prosper during 2013 and 2014. Here are five ways to gain from the forces of change.
#1: Having your own micro business for extra earnings, freedom, fulfillment and fun.
#2: Living and prospering in lower cost countries or small towns.
#3: Multi currency investing through US brokers and bankers abroad.
#4: Commodities that rise with inflation.
#5: Good value real estate…. especially multi dimensional and agricultural property.
We have specialized for over four decades in helping our readers excel in these five inflation beating opportunities.
The big benefits of belonging to the International Club are the power of repetition, updates and international friendships. As a club member, you become friends with other members as you meet again and again.
Your first saving is on waived seminar fees for the seminars over the next year.
As you will see above and below you can attend Florida & North Carolina seminars. If you attend just two of these seminars, the $1,799 membership fee will have already created a savings for you.
Yet there is more. Much more.
International Club members meeting in West Jefferson for a reception after the North Carolina seminar.
Enough…. Enough with the Bad News.
Our mantra is BE POSITIVE in this negative world. There is nothing as valuable as rarity but we need to remember that bad news sells. This means the mainstream media has slipped into offering information with an adrenaline rush. Mayhem, murder and natural disasters. These negative events will happen…. globally. We cannot do much about this. Dwelling on insolvable negativity is not good for our health or wealth.
A recent quote from the Abraham Hicks website explains why nicely.
Continuing to tell stories of shortage only continues to contradict your desire for abundance, and you cannot have it both ways: You cannot focus upon unwanted and receive wanted. You cannot focus upon stories about money that make you feel uncomfortable and allow into your experience what makes you feel comfortable. A different story will bring different results: My thoughts are the basis for the attraction of all things that I consider to be good, which includes enough money, and health, for my comfort and joy.
Make the Years Ahead Your Best Years Ever
What we can do is make ourselves Friendlier, More Compassionate, Happier, Stronger, More Energetic with greater intellect. The way to start is to surround ourselves with successful, friendly, compassionate, happy, stronger, smarter, positive people who think as you do.
The International Club brings together experienced, like minded souls, who take a positive view and think outside the box… in constructive, thoughtful, doable ways.
Being in the club surrounds you with successful… positive… like minded souls. This benefit alone is truly powerful stuff!
The courses you can attend free integrate Super Thinking with business and investing ideas and experience that enhance your health and wealth.
Focus on Ecuador & Smalltown USA & Canada
Learn how to create a BIG INCOME by thinking SMALL. At the seminars you meet speakers who are attorneys and real estate experts for both Ecuador and small town USA. You’ll rub shoulders with experts on global investing and pensions who can help you increase and protect your savings and pensions also how to increase the income you earn in positive ways you enjoy as you help your community.
(See a list of speakers you’ll meet at the club meetings along with other club members below).
Absorb through Osmosis
Merri and I are in our 45th year of organizing courses, seminars and newsletters about international and Super Thinking lifestyles. The importance of this sharing… by like minded souls… was reinforced when a delegate from a course sent an email that said:
My Dearest Merri and Gary, Thank you for your most gracious hospitality last weekend. I am just thrilled at being a part of your group. You and Gary were exactly as I imagined you to be, warm friendly, kind, considerate, genuine, helpful, fun, sincere, what else can I say……I felt so comfortable in your presence and learned so much in your course. I was sad to leave the farm that Sunday afternoon. You made us all feel so welcome and cared about. You were so kind to make arrangements for a ride with the other delegates from the Charlotte Airport. They were so nice to me and so helpful, by the time the weekend was over I felt like they were my long lost brothers. Monday morning we all had breakfast at the airport together and I was so sad to see them go, I was sad the weekend was over, perhaps sad is not the right word for how I was feeling perhaps Gratitude is a better way to describe it. Grateful for having the opportunity to share the weekend with such wonderful, like minded Human Beings, in the beautiful mountains of North Carolina. Thank you Merri and Gary. Thanks to you I now have new hope and a new direction to move forward in my life. I know by attending your classes and conferences that through education and due diligence I will make the right choices.
This delegate’s comments about “belonging and feeling like a brother” to the other delegates is a wonderful refrain we have heard from our readers, year after year.
24 years ago Merri and I created a way that readers can join us to be immersed in a year-long learning program through our International Club.
The ideas behind this program began all those years ago in Vienna, Austria while we were conducting a course there. One of our older delegates, had some sort of attack. The first fear was heart trouble. Several delegates took him to the hospital. Others stayed with him there. I don’t think that delegate was alone for a minute!
What impressed Merri and me was that no one asked the delegates to help this man.
The friendships of delegates sharing many courses had just grown so strong that it was a natural reaction, just as if a family member was ill. Fortunately, it was only travel fatigue and the delegate didn’t miss a session of the course!
When you join our International Club 2013 you become part of a special family. The very first member to join the club all those years ago wrote, Thank you for the enjoyable and informative courses. I am pleased to be part of your international family and look forward to continuing my education at the next course.
His feeling struck a familiar chord. It has always been one of my greatest satisfactions to see how much fun delegates have getting together, sharing information and making friendships as we learn how to improve our health and increase our wealth.
The courses draw like-minded souls. For this reason some delegates come back again and again. They come to learn, but also to be with their many friends made at the courses. When like-minded souls get together again and again to discuss a common purpose, magic happens! I can’t explain it in any other way-but it is true.
In a way our meetings are almost like family reunions. Perhaps it is getting together and reflecting on what has been said and what has been happening.
Learning with those who are also interested in the world creates thoughts that multiply the value of what we gain. This is hard to describe but results are most powerful and wonderful! This is to me is as important as the great financial benefit of attending many of our courses.
See the 2013 seminars in detail below.
We started and have continued the International Club for 24 years because there are wonderful benefits from having repeat delegates at courses. Having repeat delegates makes the whole course somehow more exciting for all. Being a repeat delegate makes it easier to make and keep wealth and to lock in the knowledge you gain. It’s an exciting lifestyle. We have fun, gain adventure, discovery and friendships and share ways to improve our health and wealth!
You can see from the schedule above a very busy schedule for 2013. Very few club members actually attend every seminar. Many attend almost all of them! Of course we hope you be with us for all of them, but even if you attend just two of the seminars, you gain considerable savings.
Another savings: Lifestyle for Two.
We want couples! As a member of the program, you are entitled to bring another person to every single course or tour. The cost for that extra person will be ZERO! You can bring whomever you wish. Bring your spouse, a friend, son or daughter, partner, accountant, adviser. You can bring the same person each time or a different person, whomever you choose to accompany you. (Accommodations and air fares relating to the courses are not included for members, delegates or their guests.)
The International Club fee of $1,799 is less than the price of two seminars.
I invite you to be a member of the International Club which allows you and your guest of your choice to attend all of these courses and tours.
Let’s prosper in these times of change. Won’t you join us in this exciting club and share Merri’s and my lifestyle for the next year? Join us at our farms and visit Ecuador. We look forward to seeing you at as many courses as possible and sharing this wonderful world of abundance and well being with you!
Gary
You can attend all of our seminar , courses online courses and more plus $1,246 of online value. Club membership is $1,799.
Become an International Club Member $1,799.
Attend as many of the courses below as you desire.
August 31- September 1-2 Super Thinking & Writers Camp at Merrily Farms, NC.
October 4-5-6 Super Thinking & Writer’s Camp West Jefferson, NC
November 15-16-17 Super Thinking & Writer’s Camp Mt. Dora, Florida
January 10-11-12, 2014 Super Thinking + Spanish Mt. Dora, Florida
February 14-15-16, 2014 Super Thinking & Writer’s Camp Mt. Dora, Florida
In additional Super Spanish courses will be scheduled in Canada, Mexico. and the US throughout the year.
(Dates subject to change).
Join us in 2013 – 2014 and learn how to take advantage of the fact that the Sun Always Shines Somewhere
Here is the Super Spanish teacher schedule:
June 21-22-23 Super Thinking + Spanish St. Charles, MO (Teacher Mark Frakes)
July 12-13-14 Super Thinking + Spanish Kelowna, BC, Canada (Teachers Shawn & Suzanne Bandick)
August 16-17-18 Super Thinking + Spanish St. Charles, MO (Teacher Mark Frakes)
September 27-28-29 Super Thinking + Spanish St. Charles, (Teacher Mark Frakes)
October 3-5 Super Thinking + Spanish Atlantic City NJ (Teacher Rick Brown)
November 21-22-23 Super Thinking + Spanish Puerto Aventuras, Mexico (Teachers Suzanne & Shawn Bandick)
Yes, I want to become an International Club Member.
