October Country Rankings

Our latest Country Rankings are out. See below for some general comments and click the link to see more details.

• China leads the way, ranked #1 for its second consecutive month. China saw some deterioration in its Risk rank, but saw equal improvement in its Momentum rank.
  • After a slow start to the year, China is now up 13.40% in just  the last three months
• South Korea is ranked #3, and we spent considerable time discussing whether or not to hedge the Korea Won. Ultimately, we decided to continue with our hedge.
  • Korea has a Growth/PE ratio of 1.50%, the best in our universe.
• The United States saw the biggest overall drop in our rankings, dropping from 4^th to 10^th. The U.S. saw its biggest deterioration in its 3mo momentum, and saw a significant increase in downside volatility.

Issue attachment (not archived)October Country Notes