FYI: The majority of discussion about the stock market in the financial media these days is directional. This makes sense in the context of a world in which the indices are all that matter to most people and political uncertainty is widely believed to be the biggest risk factor (as opposed to financial conditions or profit concerns).
And so the discussion returns to – again and again – whether or not the next 5% move in the S&P 500 is up or down. It’s not a question of fundamentals, but of sentiment. Which way will the wind blow?
But the S&P 500 isn’t the only opportunity set in the world of equities. US stocks account for slightly over half of the global stock market, which means that this “next 5%” myopia could lead to missed opportunities.
Regards,
Ted
http://thereformedbroker.com/2017/04/10/those-other-stocks/
