Via MarketBeat, here are Global Returns for 2006:
David Gaffen observes that "the past 12 months presented a good time to buy a passport for your portfolio:
"As good as the returns were in the U.S., they didn’t hold a candle to emerging markets and overseas returns. The table at right showed the strength of overseas markets, from BRICs to France to U.K.
The big inflows had some strategists (not us!) thinking investors moved
into the emerging markets at exactly the wrong time: World equity
funds had inflows of $104.61 billion in 2005, compared with $31.19
billion for domestic equity funds (ICI).
The 1st four months of 2006 were the biggest for domestic inflows — at least
$18.32 billion per.
Since then, a curious stat developed: a majority of fund managers polled by Merrill Lynch
believe global stocks will be higher in a year’s time, and the greatest
number thinks that if one market is overvalued, it’s the U.S. market.
Are emerging markets maturing? Or is this merely a testament to the global glut of liquidity?
2006 Revisited: Spanning the Globe
WSJ Marketbeat, December 29, 2006, 4:36 pm