Stock price when the opinion was issued
Thought he'd give all the Canadians an "elbows up" moment to get not only US wine out of their diets, but also US stocks out of their portfolios ;)
MER is 22 bps. Broad exposure to the world, without the US. Very wide valuation differences compared to the US, especially in Europe and Japan. Potential weakening of the USD should also provide a boost on performance compared to the US. These ex-US companies are actually outperforming the US. Adds diversification too.
(A Top Pick Dec 31/13. Up 3.15%.) Most of this is Europe, which has had a difficult year. Most people have too much money in Canada. Going forward, he thinks Europe will do better than Canada, because of Canada’s large exposure to energy.