Tim Seymour on International Investing Opportunities in India, Japan, and China

International Investing Amidst Global Uncertainty

• 🌍 Global uncertainty and trade tariff dynamics have surprisingly made international investing more interesting and attractive.
• 📈 The "Make International Great Again" (MIGA) trend has seen countries like Germany outperform the US significantly.
• 💰 Fiscal spending, rearming in Europe, and currency dynamics in the Euro and Yen have been influenced by these trade dynamics.

Attractive Opportunities in India and Japan

• 💡 India is highlighted as a favored investment destination, with companies growing free cash flow yields.
• 🇯🇵 Japan has been an overweight position for the last 6-9 months, particularly Japanese banks, due to higher dividends, trading at a discount, and corporate governance improvements.
• 🏦 The Bank of Japan's recent policy meeting suggests a dovish stance, potentially pausing further Yen appreciation which benefits Japanese banks.

Navigating US-China Trade Relations

• 🇨🇳 While US-China trade talks are ongoing, investors are advised not to invest based on expectations of a deal.
• ⚠️ The worst of the tariff headlines may be behind us, but the impact of tariffs is still playing out globally.
• 💻 Selective investment in China, specifically mega-cap tech companies like Alibaba, is considered a sound strategy due to their valuations and less direct exposure to international trade front issues.
• 📊 The overall approach to international investing isn't significantly altered by these headlines, emphasizing a selective and valuation-driven approach.