On Going Global, Volatile Oil & Earnings Revisions

While we recommend a “Stay Home” versus “Go Global” investment allocation approach, we note that the EU MSCI is trading at a big discount to the US MSCI. But challenges constraining economic growth do abound in Europe. Today, Eric surveys the investment fundamentals vis-à-vis valuations in both EU and EM stock markets, finding the latter more attractive. … Also: Melissa surveys the forces making for a volatile global oil market. … And Joe updates us on the latest batch of analysts’ net estimate revisions data for August—a month that saw net earnings estimates rise as net revenues estimates fell.