Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Mining Corner
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Credit Suisse Global Investments Yearbook 2019

% of readers think this story is Fact. Add your two cents.


By end February the investment community is eagerly waiting for the publication of the new Global Investments Yearbook. This publication is a continuation of “Triumph of the Optimists: 101 Years of Global Investment Returns” (Princeton University Press, 2002) by Elroy Dimson, Paul Marsh and Mike Staunton.

Emerging marketsThe 2019 edition is focusing on emerging markets, with particular emphasis on the Chinese stock markets: plural indeed since both the Shanghai stock exchange (SSE, trading since 1990) and the Shenzhen exchange (SZSE since 1991) have been included alongside the Hong Kong Stock Exchange (HKSE, since 1986 as a merger of Hong Kong exchanges operating since 1891).

The long run ‘emerging markets’ segment is varying in composition, since some present day developed markets were to be qualified ‘emerging market’ in earlier decades. Despite outperforming developed markets over several decades, emerging markets suffered several historic impairments. Those setbacks have caused the long run emerging market return to fall short of that of developed markets. The most important setbacks have been the nationalization of Russian enterprises following the 1917 revolution establishing the Sovjet Union, the nationalization of all national industries by the Peoples Republic of China in 1949 and the plunge of Japanese equity following the WWII defeat and the following hyperinflation.

Investing for the long termThis is the second topic covered in more detail. One of the main points of view is the historic sector rotation that has taken place throughout more than a century. Leading industries have dwindled and the present day major enterprises pertain to industries that didn’t exist by the beginning of the 20th century.  Both the UK and the US stock exchanges are taken as examples.

Furthermore, comparison among three main asset classes (equity, bonds, bills – short term debt) proves equity to outperform in all developed markets and emerging markets with data available. With only one exception, bonds outperform bills over the long haul. Yet both categories lag equity. The ‘golden age’ for bonds is recent: the disinflation in most developed markets since the 1980′s caused interest rates to decrease gradually thereby boosting real returns on bonds.  Bonds have been particularly poor investments during periods of rising inflation and escalating interest rates.

Return differentials between equity and bonds/bills (called risk premiums) are shown across 21 markets. ‘Maturity premiums’ are what differentiate long bonds from bills. Those maturity premiums tend to vary over decades long interest rate cycles.

Individual marketsThis last chapter is much abbreviated in this summarized edition as compared to the full printed version. Individual markets covered are the US, UK, China, Japan and Switzerland.  Aggregate data for European markets and for the World are suitable benchmarks.

LinksPress release  of the Credit Suisse Global Investments Yearbook 2019 – summarized version.
PDF direct link to the Credit Suisse Global Investments Yearbook 2019 – summarized version.



Source: https://gwyde.blogspot.com/2019/03/credit-suisse-global-investments.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.