Styles RouteMap: Summary Tables

Ranking tables of our Best Guesses for investing in 11 investing styles and economic sectors in six regions

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Use this RouteMap if you are a global or regional equities fund manager or investor

 

Summary Tables

 

 

 

 

 

Styles RouteMap

  • Performance Matrix: One table of total US$ Returns of 11 investing styles and economic sectors in six regions - two sections, one each for the last calendar month and year to date, sorted by order of cyclical rotation
  • Recent Significant Events: One table of major news headlines for every style or sector in every month since December 1999 - political, economic, financial events , sorted in descending order by date
  • Summary: Four tables of overall action recommendations for local currency investors, US$ investors and relative to regional market and global sector optimised for 12 months or longer - five columns showing Buy/Add/Hold/Trim/Sell opinions based respectively on value, trend, sentiment and combined overall action strategies together with overall direction of change since previous month, sorted by regions within sectors and styles
  • Trading Summary: Four tables as Summary but optimised for 3-6 months - five columns showing recommendations by modified trend and sentiment strategies, overall action strategies together with overall direction of change since previous month and fundamental risk rating included for information only
  • Trends: Four tables of directional Buy/Sell opinions for local currency investors, US$ investors and relative to regional market and global sector optimised for 12 month performance - nine columns showing opinions based on revision to consensus economic forecasts, liquidity trends, chart analysis, seasonal trading patterns and overall direction together with Up/Down direction of change over previous month for four individual strategies, sorted by regions within sectors and styles
  • EPS Forecasts: Four tables of our own top-down earnings per share forecasts estimating percentage changes for local currency investors, US$ investors and relative to regional market and global sector, derived from consensus economic forecasts - four columns showing forecasts for FY1 and FY2 together with Up/Down direction of change, sorted by regions within sectors and styles
  • Long Term Forecasts: As EPS Forecasts but estimates five years ahead - six columns showing FY1, FY2, FY3, FY4, FY5 and five year compound annual growth 
  • Seasonal Trading Patterns: One table listing historic patterns for the best month in the year to buy and sell for local currency investors, US$ investors and relative to regional market and global sector - three pairs of two columns showing Buy/Sell signals and month of expiry for the current signal, sorted by regions within sectors and styles
  • Invest Sentiment: Four tables projecting performance up to a year ahead based on composite indicators of investor sentiment since 1999 for local currency investors, US$ investors and relative performance - 12 columns of +/- cumulative direction indicators together with percentage change forecast a year ahead and Buy/Add/Hold/Trim/Sell recommendations, sorted by regions within sectors and styles
  • Valuation Summary (Fair Value Line) : One table comparing valuation levels by sector and region - four sections for current fair value level, deviation compared to past, relative to regional market and deviation from its past - all since 1965, sorted in descending order by cheapest stock market at the top
  • Valuation Summary: Four tables of recommendations based on valuation strategies - Four columns showing Buy/Add/Hold/Trim/Sell recommendations based on Real PE Ratio, PE Ratio / Bond Yield, PE Ratio / Interest Rate and Replacement Cost - sorted by regions within sectors and styles
  • Valuation (Cyclically-Adjusted PE): One table calculating PE ratios both cyclically- and inflation-adjusted - four sections showing ratios both currently and compared to past as well as compared to region and its past - all since 1965, sorted by sectors in cyclical rotation
  • Valuation (Cyclically-Adjusted PE/Bond Yield): One table calculating the attractiveness of shares compared to bonds - four sections showing ratios both currently and compared to past as well as compared to region and its past - all since 1965, sorted by sectors in cyclical rotation
  • Valuation (Cyclically-Adjusted PE/Cash Yield): One table calculating the attractiveness of shares compared to cash - four sections showing ratios both currently and compared to past as well as compared to region and its past - all since 1965, sorted by sectors in cyclical rotation
  • Valuation (Cyclically-Adjusted Real EP): One table calculating the attractiveness of shares in real terms - four sections showing the current ratio both cyclically- and inflation-adjusted and compared to its own past - all since 1965, sorted by sectors in cyclical rotation
  • Valuation (Replacement Cost): One table showing prices compared to estimated replacement costs - four sections showing the current ratio both cyclically- and inflation-adjusted and compared to its own past - all since 1965, sorted by sectors in cyclical rotation
  • Valuation (Overall Average): One table of average over/under-valuation based on the tables above - four sections showing ratios both currently and compared to past as well as compared to region and its past - all since 1965, sorted by sectors in cyclical rotation
  • Next National Elections: One table showing the main political even on the horizon for all markets - Four columns showing country, election, current government and Left/Right orientation, sorted by due date in ascending order up to five year ahead
  • Exchange Traded Funds: Five tables providing recommendations on exchange traded funds, including US closed-ended funds and UK investment trusts based on their mandates rather than their managers - 12 columns listing code, fund name, investment mandate, best proxy, liquidity rating, recommendations for absolute return in US$ and performance relative to regional market and global sector, name of sponsor, correlation to global average and monthly volatility, sorted alphabetically by name, listing and type