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value-investing
India is the strongest PEG ratio market we tested. 13.68% CAGR over 25 years, +2.6%/yr vs the Sensex. The ride was violent, -65% in 2008, +102% in 2009. Here's the full data.
value-investing
South Africa's JSE delivered 7.21% CAGR over 25 years with strong downside protection. Beta 0.601, down capture 42.3%, -14.3% in 2008 vs S&P 500's -34.3%. Trails SPY on returns but adds real diversification value.
value-investing
Taiwan's DCF discount portfolio returned 9.15% CAGR over 25 years, beating the TAIEX by +6.10% annually. The 0.398 Sharpe, -36.80% max drawdown, and 3.8:1 up/down capture asymmetry show strong risk-adjusted performance.
value-investing
PEG ratio tested on 14 exchanges with local benchmarks. Sweden: +6.81% vs OMX30. Canada: +3.94% vs TSX. India: +2.56% vs Sensex. 6 of 14 markets beat their home index. The old SPY comparison was mixing currency effects with equity alpha.
value-investing
Canada's TSX PEG strategy delivered 9.03% CAGR with zero cash periods across 25 years, +3.94%/yr vs the TSX Composite. Next-day close execution, full backtest results and methodology.
value-investing
Peter Lynch's PEG ratio underperforms the full US exchange universe by 1.2%/yr over 25 years. Here's what works, what doesn't, and why universe selection changes everything.
value-investing
India's DCF Discount strategy returned 11.70% CAGR over 25 years, barely edging out the Sensex at 11.49%. The alpha is essentially zero. The catch: a -64% max drawdown vs the Sensex's -38%. Here is the full data.
value investing
Sweden delivered the highest CAGR of any European market for DCF discount. Over 25 years, the strategy returned 12.04% CAGR vs 7.33% for SPY, with a 0.399 Sharpe and +4.71% annual excess return.
value investing
Korean stocks are famous for being cheap. The "Korea discount," the persistent gap between Korean equities and their global peers, has been discussed by analysts, academics, and fund managers for decades. Complex chaebol structures, weak corporate governance, and geopolitical risk all keep prices depressed. We ran our DCF
value investing
We ran the same DCF discount strategy across 16 global exchanges. Same signal, same model, same transaction costs, same 25-year window, but with per-exchange local currency market cap thresholds. Each exchange is benchmarked against its local index. Brazil topped the list at 18.05% CAGR (+9.47% excess vs Bovespa)
value-investing
Canada's TSX delivered 11.49% CAGR with zero cash periods over 25 years. The portfolio captured 128.73% of upside and only 20.4% of downside vs the TSX Composite. Max drawdown stayed at -30.12%. Full backtest results.
backtests
We screened every German stock on XETRA for discount to intrinsic value using a Gordon Growth Model and backtested from 2000 to 2025. The strategy returned 9.28% CAGR vs 4.51% for the DAX, with zero cash periods across all 25 years.