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All the worries about Europe and -- frankly what's going on here in the US should you thinking globally when choosing where to invest our next guest.
Picks individual countries not stocks he -- three specific countries he really likes as long term.
Hold yet that's -- -- interest thing which countries joining us now is David golf club activist global advisors president chief investment officer so let's get right to it David.
Which of the countries that you like to get Europe to get all the brick countries.
What countries you looking at.
The top five countries and our model right now Turkey South Africa Thailand.
And the US surprisingly -- and maybe the first time the last five years why Turkey right off the bat.
Turkeys get very very strong fundamentals it's got great momentum.
It is a little bit more risky -- the average country and not valuations are a little bit cheaper than average that that -- and a look at the world this.
On -- on a balanced basis fundamentals moment to risk and valuation.
OK everybody keep this up on the screen so people come look at it and figure out what what to do here were looking -- some of the takers of the long term holdings these are either iShares -- exchange traded funds.
South Africa this interests me because.
You look at all that's going on there and and some people feel that it's a little unstable.
And that some business issues are going wrong -- it's not the greatest place to do business what excites you about of -- places South Africa.
Well again you know at a fund a fundamental basis it's about sixth out of the thirty countries that would follow on momentum basis been extraordinarily good its fourth.
Even -- a risk basis if you include things like four -- expected depreciation depreciation.
CDS and those sorts of things.
They're lower risk than the average country.
Yeah and even on on a valuation basis there are about average so.
Quality fundamentals good momentum lower than average risk with average valuation equals and an opportunity for us.
What countries wouldn't you recommend.
Just going in the opposite direction here David.
Well we don't typically look at regions but we look at individual countries but I would say that most of the European countries continental Europe.
Sold at the bottom of our list unless so on the short side.
Spain number one Italy number two France number three and the interesting thing is that if Europe if your value -- you have to be buying Spain and France and Italy right now.
On because of the second third fourth cheapest countries and are in our model but on a fundamental basis on -- momentum basis on a risk basis they're they're worse off than any of the other countries.
When you all are deciding which type of ETF focusing on whatever country by the -- -- -- five and you only gave us for.
But first -- tea -- are asked which one -- -- -- actually Germany -- What are the metrics you years is that he's a lot of people look at GDP.
A lot of people at the cheap aspect of that you've already addressed that what else do you need to see before saying that's a play session began financially.
-- -- -- that you asked about the ETS and just to talk about that for 12 we look for ETFs that closely.
Mimic the index is that we're using to.
Analyze the countries and those of the MSCI indices.
So typically we don't I share products because that's what they -- -- -- ETF -- But again what we try to do is equally weight the fundamentals the momentum in the risk and valuation.
We really want to have a balanced approach to investing in the country and so if the country's cheap.
But it has horrible fundamentals and horrible momentum and high risk we're not -- only got what you yeah exactly.
Good to see -- -- -- the shape so lot there are there are people who make money buying cheap countries and cheap stocks so.
It's a trade them.
Very fast one David Garth -- best global advisors president and chief investment officer thank you so much itself Turkey thinks you.
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