Recent piece on Research Affiliates co-authored by Rob Arnott (creator of fundamental indices).
Now help me out UK friends…I’m a proud burger American and looking to take take advantage of some of these deals. I’m a big fan of Arnott’s research and agree there’s no dumber move in history than to to underestimate UK’s resiliency, but frankly there’s a few things I don’t understand culturally about your country.
Why is there seemingly so much corporate corruption? It seems just about every major multi-national has been involved in some bribery scheme. Is this something that is improving?
I hear talk about potential nationalization of this industry or that industry (i.e. utilities). Is this for real? Adam Smith would be rolling in his grave.
Do you all really only work productively 3-4 hours a day and spend most your time in the pub (serious question)?
Any UK value stocks you recommend for long term outlook, why?
Disclosure: I am currently long BATS (BTI), and SN (SNN), but looking for more suggestions.
*edit: Hope I’m not coming off as a jerk, but I’m really hoping to understand more about what it’s like on the ground. I acknowledge that UK is where modern market capitalism was founded and it’s absolutely ridiculous that folks are writing off the entire country as a value trap. I’m expecting there will be an influx of foreign investment once Brexit blows over.