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Today I break down a trade in the Pinecone Passport Portfolio (beating SPX by 17.6% YTD) and introduce my valuations sheet that shows the average PE inside every country ETF as well as each country’s benchmark stock market’s actual PE. The interesting part is where some of them diverge a lot due to construction (and some just bad ‘average’ math of course). I wanted to start sharing this periodically for those that care about both country ETFs and value even if only a minor overlay in your process.
The Dollar
The Scoreboard
The US is only beating Thailand and Turkey!
Interesting Data
Mexico - EWW 0.00%↑
Ouch…
Chile - ECH 0.00%↑
Very nice…
Turkey - TUR 0.00%↑
Not bad for Turkish standards.
Philippines - EPHE 0.00%↑
Plenty of room to cut with this inflation backdrop…
Thailand - THD 0.00%↑
Literal deflation.
Italy - EWI 0.00%↑
Solid PMI in Italy…but retail sales - not so much!
Interesting News
Brazil - EWZ 0.00%↑
Malaysia - EWM 0.00%↑
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