WSJ – Where You Can Find Stock-Market Bargains
By Jason Zweig
Europe is at war. China is floundering. Japan is aging. Emerging markets are suffering. Could there be a better time for a contrarian bet on international stocks?
Enterprising investors—those who are willing to put time and effort into diverging from the crowd—should always be thinking about where the potential for surprise is the greatest.
“Once markets reach their nadir, cyclicals tend to perform the best,” says Ms. Ketterer
The obvious negatives are already priced in: a prolonged war in Ukraine, an acute energy crisis and raging inflation, a brutal recession, floundering currencies. With pessimism this pervasive, it wouldn’t take many positive surprises to overturn the obvious—and make global diversification lucrative again.
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