Euro Small Caps a Bright Spot in Low Return World

Bonds, equities, residential property, cash. Whatever your poison, prospective returns from today's asset prices look meager. One bright spot, however, is high quality European exporters. We own a number of great little companies in our international portfolio, all well managed, growing and paying dividends. This little stock featured in this video is a great example. Imagine if a global leader in medical and cosmetic laser machinery were listed in the US or Australia. What multiple for a debt-free company growing at double digits? Close to 30 would be my guess. The same business, listed in Italy, trades at 13 times and sports a 3% dividend yield.