Uddrag fra Market ear
Poor, very poor
Here comes a collection of totally random charts and observations mixing long term and short term on how “challenged” Europe is. To kick off – European earnings sentiment printing a new low.
Source: FactSet
Europe beware
2018-2019 China tariff announcements coincided with a slower growth outlook for China, but even deeper downgrades for the Eurozone.
Source: JPM
Europe stuck
“Europe is stuck in a static industrial structure with few new companies rising up to disrupt existing industries or develop new growth engines. in fact, there is no EU company with a market capitalisation over EUR 100 billion that has been set up from scratch in the last fifty years, while all six US companies with a valuation above EUR 1 trillion have been created in this period” (Tony P)
“Old country”
Europe has industries from last century and does not participate in the current tech revolution.
Source: Bloomberg
Trillion dollar babies
“Of the seven trillion-dollar companies, six are tech firms that are based on the West Coast of the US. The seventh, Saudi Aramco, will need to undergo the mother of all transformations as the oil industry dies. To build ten-trillion-dollar firms you need trillion-dollar ones. To build trillion-dollar ones you need hundred billion-dollar ones. America has more of those than any other country. Europe’s biggest company by market cap, Novo Nordisk, would come 14th in the world rankings and China’s Tencent 21st.”
Source: Exponential View
Americans work harder than Europeans
U.S. is dominating Europe because Americans work harder than Europeans, says the CEO of Norway’s $1.6 Trillion Oil Fund, Nicolai Tangen. Tangen says that Americans have a higher level of ambition.
America’s attitude toward failure is helping propel the nation ahead of its European counterparts—where workers may have a better work-life balance but aren’t as ambitious.
America’s performance, particularly in innovation, is “worrisome” in contrast to Europe, Tangen told the Financial Times. Part of comes down to mindset, Tangen added, and how accepting each continent is of mistakes and risk: “You go bust in America, you get another chance. In Europe, you’re dead,” he said. (FT)
Reflected in the stock market
US stocks have beaten RoW in 8 out of the past 10 years.
Source: Bloomberg
Green paranoia vs free market principles
Eye-opening chart of GDP per capita for US, UK, Germany and France. While the US still follows free market principles, entrepreneurship and innovation, Europe chose overregulation, bureaucracy, green paranoia and socialist redistribution nonsense.
Source: World Bank
France is a total mess
‘The current political situation for France is unprecedented, and it raises risks about the ability of the institutions to deliver sustained deficit reductions.’ (Moody’s)
