25% my equity allocation European stock में। Mention करना जब American investor से, look मुझे जैसे कि I said invest कर रहा हूँ carrier pigeon में। "Europe？Slow growth over-regulated demographically challenge continent？Why?"
Because cheap। My experience में cheap reliable predictor of future return।
Valuation Gap Absurd है
DAX trade approximately 17x earn। S&P 500 trade 21.4x। That 32% discount German index——gap even wider individual sector के लिए।
Euro Stoxx 50 fell 5,882 point week this में लेकिन still up nearly 15% year-to-date। Pan-European Stoxx 600 choppy been——down 0.9% Monday——trend unmistakably higher। Over past month alone European equity climb 5.38%।
Why discount？Market cite three reason：slower GDP growth geopolitical risk（Strait Hormuz Middle East) energy dependence। All valid। लेकिन here thing——these risk already price at 17x earn। Question whether they worth 32% discount US। I say नहीं।
German official just cut 2026 GDP forecast 0.5%। Terrible right? लेकिन German equity be German economy नहीं। DAX 40 company generate 80% revenue outside Germany। Siemens SAP BASF Allianz——these global business list European exchange। "Slow growth" narrative unfairly punish।
— averin.comチームによる分析