Selektion er vigtigere end nogensinde, mener Goldman Sachs. Udviklingen på de internationale aktiemarkeder viser, at de 50 bedste aktier kun udgør under 2 pct. af det globale MSCI-indeks, og at de giver fire gange så stort et afkast som de 50 aktier med den største børsværdi. Det drejer sig altså om at udvælge de bedste, ikke om at sprede sine investeringer.
Concentrate on selectivity.
Taking advantage of the full global equity opportunity set requires investors to consider securities more actively.
Top performing stocks in the MSCI ACWI made up less than 2% of the index in aggregate, but on average generated over four times the return of the index’s largest stocks by market capitalization.
This strong performance equated to an average return of 132% in 2019, even surpassing returns of top US technology names.
In our view, investors should focus on identifying outperforming companies through careful stock selection.
Source: Bloomberg and GSAM.
