{"id":203784,"date":"2024-03-22T12:00:00","date_gmt":"2024-03-22T16:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=203784"},"modified":"2024-03-25T04:48:56","modified_gmt":"2024-03-25T08:48:56","slug":"dont-sleep-on-global-stocks","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/dont-sleep-on-global-stocks\/","title":{"rendered":"Don’t Sleep on Global Stocks"},"content":{"rendered":"\n

It\u2019s easy for investors to fall into a rut.  Even though I spent the first few years of my career trading global stock markets, I\u2019m as guilty as anyone about becoming too focused on US stocks.  It\u2019s a big world out there \u2013 don\u2019t be afraid to invest in it.  And if you have an account at Interactive Brokers, our global breadth will allow you to do just that.[1]<\/a><\/p>\n\n\n\n

While any US-based market participant can confidently assert that major indices like the S&P 500 (SPX) and Nasdaq 100 (NDX) are flirting with all-time highs, I suspect that many fewer realize that a wide range of international benchmarks are doing something similar.  It was newsworthy when Japan\u2019s Nikkei 225 (N225) recently breached its prior all-time high set during that country\u2019s \u201cbubble era\u201d during the last century, but the wide range of European markets, like the Euro Stoxx50 (ESTX50, SXS5E), Germany\u2019s DAX, and FTSE100 (UKX), that are at or near all-time highs may be less headline-grabbing, yet still quite noteworthy.<\/p>\n\n\n\n

The graphs below show how well ESTX50 and DAX have kept up with SPX over the past three years and six months, even if NDX outpaces them nonetheless:<\/p>\n\n\n\n

3-Year Graph, ESTX50 (white), DAX (blue), NDX (purple), SPX (yellow)<\/em><\/strong><\/h3>\n\n\n\n
\"3-Year<\/figure>\n\n\n\n

Source: Interactive Brokers<\/p>\n\n\n\n

6-Month Graph, ESTX50 (white), DAX (blue), NDX (purple), SPX (yellow)<\/em><\/strong><\/h3>\n\n\n\n
\"6-Month<\/figure>\n\n\n\n

Source: Interactive Brokers<\/p>\n\n\n\n

Below are graphs that show how well selected Australasian indices, including Hong Kong\u2019s Hang Seng (HIS) and Australia\u2019s S&P\/ASX 200 (SPI) have done over those same timeframes \u2013 with one obvious exception:<\/p>\n\n\n\n

3-Year Graph, N225 (white), HSI (blue), NDX (purple), SPI (yellow), SPX (red)<\/em><\/strong><\/h3>\n\n\n\n
\"3-Year<\/figure>\n\n\n\n

Source: Interactive Brokers<\/p>\n\n\n\n

6-Month Graph, N225 (white), HSI (blue), NDX (purple), SPI (yellow), SPX (red)<\/em><\/strong><\/h3>\n\n\n\n
\"6-Month<\/figure>\n\n\n\n

Source: Interactive Brokers<\/p>\n\n\n\n

Those who invest in greater China are sadly aware of the underperformance of stocks in that region, and China\u2019s economic malaise is also causing some dismay in Australia by depressing demand for that country\u2019s copious supplies of raw materials. <\/p>\n\n\n\n

Unfortunately, the latter chart somewhat dispels one of the classic rationales for investing globally \u2013 diversification.  It is obvious that international investment can increase the diversity of stocks within one\u2019s portfolio, but that is not always an end goal in itself.  If global markets are moving in relative lockstep, the need for \u2013 and the ability for \u2013 international diversification diminishes.  When one of the few markets that is offering diversification of returns is doing so because it is a glaring underperformer, it is hardly an endorsement of the practice.  But that also doesn\u2019t mean that one should turn a blind eye to the rest of the world.<\/p>\n\n\n\n

Remember, while most of the world is focused on the prospects for artificial intelligence (AI), one of the best performing stocks in the world has benefitted immensely from the fundamental human desire to look better.  We\u2019re of course referring to Novo Nordisk (NOVO, NVO), which we recently called \u201cthe other \u201cNV*\u201d stock<\/a>.\u201d.  Over the past 18 months, when awareness about both AI and GLP-1 drugs took root among the general population, we can see that NVO has kept pace with its key competitor, Eli Lilly (LLY), but that divergences between the two GLP-1 giants have occurred with frequency.  Sure, NVO is no Nvidia (NVDA), but what is?  NVO and LLY have outpaced other stellar performers like Meta Platforms (META) and Microsoft (MSFT), along with NDX over the past year and a half.<\/p>\n\n\n\n

18-Month Chart, NVO (white), LLY (purple), META (yellow), MSFT (grey), NVDA (green), NDX (red)<\/em><\/strong><\/h3>\n\n\n\n
\"18-Month<\/figure>\n\n\n\n

Source: Interactive Brokers<\/p>\n\n\n\n

Although it is quite easy to access its ADRs during normal US market hours, there are often trading opportunities that early risers or insomniacs can take advantage of.  And there are literally thousands of other global stocks and indices that one can trade on our platform throughout the day and night.  Let\u2019s be clear \u2013 I don\u2019t advocate forgoing sleep, family time, and other productive activities, but it is useful to know that if an idea hits, one can act upon it right then and there.<\/p>\n\n\n\n

—<\/p>\n\n\n\n

[1]<\/a> Here is a list of global exchanges that Interactive Brokers\u2019 customers can access: https:\/\/www.interactivebrokers.com\/en\/whyib\/global_access.php<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It’s easy for investors to fall into a rut.\u00a0 Even though I spent the first few years of my career trading global stock markets, I’m as guilty as anyone about becoming too focused on US stocks.\u00a0 It’s a big world out there – don’t be afraid to invest in it.\u00a0<\/p>\n","protected":false},"author":4,"featured_media":187438,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14700,6,8,9,22,26,3],"tags":[3120,3598,4109],"contributors-categories":[13576],"class_list":{"0":"post-203784","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-market-insights","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-stocks","12":"category-text-articles","13":"category-traders-insight","14":"tag-global-stocks","15":"tag-market-outlook","16":"tag-stock-market","17":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nDon’t Sleep on Global Stocks | Traders' Insight<\/title>\n<meta name=\"description\" content=\"It\u2019s easy for 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Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/03\/global-markets-featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/203784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=203784"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/203784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/187438"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=203784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=203784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=203784"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=203784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}