Charts That Matter - Wednesday, Dec. 26

Profit expectations are unraveling. India, perhaps the biggest emerging-market favorite of global money managers, is missing earnings projections by almost 15 percent. China, the world’s second-biggest economy, is trailing by 17 percent. Six other markets including South Korea and Mexico are falling short by more than 20 percent.
There are a handful of outperformers, but they’re countries where analysts typically give cautious projections, such as Russia and Argentina because a seemingly endless stream of trouble makes predicting earnings difficult.

Among 30 emerging markets, 16 trade at a standard deviation above the 10-year mean. In other words, companies are earning more profit for each dollar of their share price. Returns from Argentina are almost three standard deviations above normal, the best value-for-money across the emerging world. India stands at Bottom

Growth rates are expected to slow significantly for some of the tech world’s superpowers. Disillusionment and promise in a whirlwind year.

Time In Market More Important Than Timing The Market…..ask Japanese investors.

The Japanese Index (Nikkei 225) chart is terrifying. This is 50 years. It’s been 30 years since a new high.

The impact cost is going up and if you are in large AUM funds then you are the investor who is paying for it.

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