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Only the US provides statistics of earnings per share for the entire market, so everywhere else we have constructed our own time series for the past as well as the future.

Visitor: Nowadays value analysis is unfashionable. Is the trend also your friend?

RouteMaster: Yes. Like a chameleon, Investors RouteMap can be whatever you want it to be. If you are only interested in trends, we can offer them in three varieties.

Since we are on to economics, let's show you the Profits Model, which is generated by our own econometric models for each country. These are fed by consensus forecasts of key economic variables. While such forecasts can be wrong and all models of necessity over-simplify, we don't actually need a high degree of accuracy - the right direction and order of magnitude will do for our purposes.

Incidentally we could show you several other types of investment strategy for the same country, where everything would be the same except the explanatory variable. This is part of our strategy to make complex analysis easily visualised by letting you see the same information in the same place as each new chart overlays the last one.

It can be seen here that share prices do reflect corporate profits but have now fallen further than justified - assuming the estimates, in orange, are correct.