Investiční společnost GMO publikovala před několika dny dokument „Japan value: An Island of Potential in a Sea of Expensive Assets“ v němž se zaměřuje na japonské value akcie, které v současnosti považuje za jednu z nejatraktivnějších investičních příležitostí na akciových trzích.
Kompletní dokument naleznete ZDE.
GMO v dokumentu uvádí:
„Global stocks and bonds are both expensive. U.S. stocks are trading at particularly elevated valuations with the CAPE ratio standing at 35x (vs. a 10-year average of less than 27x) while the Barclays Bloomberg U.S. Aggregate index offered a negative real yield at the end of February. No wonder investors are scouring the earth for attractively priced assets and alpha opportunities. We believe Japan Value and Small Cap Value stocks offer both – a compelling beta opportunity with room for active investors to add value. We’re excited about Japan Value equities for three key reasons. They offer:1) attractive valuations; 2) a supportive secular transition of rising profitability and more shareholder-friendly policies; and 3) fertile fishing grounds for alpha seekers.“
