World’s Largest Corporations - Fortune’s 2005 Big Boy List
Fortune just released the Global 500 list last month. I took a snap shot of the largest 20 corporations in the world:
Amazingly, half of the top 20 are either Oil or Auto companies. Another surprise is that the American auto makers are gaining more grounds in the top 20 list. Only Toyota and Volkswagen showed up on the list. You’d think our auto industry is on a downhill with all the troubles GM had lately. I am puzzled about how a company that got downgraded to junkie and almost got kicked out of Dow ended up on the top 5 list?
I am also surprised to see ING Group has such a close call with Citigroup (revenue wise). After all, it is an ultra young bank (funded in 1991) and it is only well known as an online bank here in the States. This little bank even beats IBM! What’s their secret? Anyway, I am a happy customer of ING Direct myself and I have been enjoying its excellent interest rate for a while. If you are sick and tired of the money market’s 0.8%, I’d roll the cash into an orange account (currently at 3.30% for saving) with ING.
There are also a few companies that made to the top 100 but with negative profits:
#26 McKesson (-156.7 million)
#51 Pemex (-2,258.9 million)
#53 Vodafone (-13,910.4 million)
#57 Fiat (-1972.6 million)
#67 Kroger (-100 million)
I am staying away from those companies for now, job or stock.
By looking at the entire Global 100 list in my hardcopy Fortune magazine, only 33 of them are US based companies. We have long adopted the concept to invest mainly in our own market. Even our financial advisors are telling us that International assets are riskier and we should put only 10 to 20 percent in the International funds as part of the diversification exercise. My question is that if our economy is only a slice of the pie, shouldn’t we try to bite the entire global pie and invest more in foreign funds?
Whoolo said,
September 1, 2005 @ 5:06 pm
International stocks isn’t much riskier than Us stocks. According to Yahoo Finance:
For years, the conventional wisdom has been that most investors are better off keeping just 15% to 20% of their assets in overseas stocks. That’s because the conventional wisdom has also relied on the flawed assumption that foreign stocks are more risky than domestic stocks. Sure, they’re more unfamiliar to U.S. investors, but somewhere along the way, a lot of smart people also started saying that they were riskier.
Well, the evidence just doesn’t back that up and I certainly haven’t seen any hard data to justify it. As such, we think it makes sense for investors to reconsider their level of exposure to overseas investments because most U.S. investors are systematically underexposed to foreign stocks. That doesn’t mean you should put in more than what you’re comfortable with, but just that you should really think about how you’re arriving at your comfort zone.
Oh, and if you’re thinking about investing more overseas just because foreign funds have done well in the past few years, it’s the wrong reason for doing so. Do so because it makes sense for your portfolio, as you’re more apt to stick with such an allocation in the long run.
Kunal Kapoor, CFA has a position in the following securities mentioned above: DODGX.
Link : http://biz.yahoo.com/ms/050901/142880.html
Yuna said,
September 1, 2005 @ 10:27 pm
I have long thought about investing more in Euro and Asia markets… HA! So I am not crazy then… got Yahoo finance to back me up… And by the way.. Dodge & Cox is one of the best firms out there… I am lucky that I got in before they closed two of their best funds…
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