I have written many times about the reasons to invest internationally. I came across the following infographic that shows some of the reasons:
Click to enlarge
Source: OppenheimerFunds
The Number of Doctors In European Countries Are Rising
People in OECD countries are living longer than before. While improved lifestyles and better medical treatments are some reasons, an OECD article wonders if the number of doctors in a country is also a contributing factor for this phenomenon.
The following chart shows the trend in the number of doctors in select OECD nations:
Click to enlarge
Source: Doctors at large, OECD Observer
From the article:
After all, in most European countries at least, the absolute number of doctors has increased between 2000 and 2012. Overall, looking at the entire period, there were about 20% more doctors in 2012 compared with 2000. From 2000 to 2012, there were 50% more doctors in the United Kingdom, 20% more in Germany, 40% more in Spain, one-third more in Portugal and in the Netherlands (2011). The exceptions are France and the Czech Republic, where the number of doctors has remained relatively stable over the period, while life expectancy has also improved.
It is surprising that the number of doctors in UK increased by 50% from 2000 to 2012 despite budget cuts and other issues with NHS. In general this is good news for British residents since higher number of doctors makes it easier to access healthcare and should reduce wait times. It should be noted that the UK imports thousands of doctors from former colonial countries and from Eastern Europe each year.
The graph below shows the doctors per 1,000 population in OECD countries of Europe:
Click to enlarge
Source: Health at a Glance: Europe 2014, OECD
Greece had the highest number of doctors per 1,000 as the chart above shows followed by Austria. Overall since 2000, the doctors per capita in European countries has increased except in France where it has been flat. As mentioned above, the growth rate has been strong in the UK.
For comparison, the U.S. has 2.45 doctors per 1,000 population according to the CIA’s World Factbook. This is lower than major European countries. For example the figures are for Germany, France, Spain and UK are 4.0, 3.3, 3.8 and 2.8 respectively. The reason for the doctor shortage are many including the fact that unlike other countries healthcare is private in the U.S. and the American Medical Association (AMA) controls the number of doctors in the country. This private lobby group of physicians has an inherent conflict of interest since higher number of doctors would be mean more competition and fewer jobs and lesser income for existing doctors. The free market concept of supply and demand does not apply to the healthcare professions. It is tightly controlled in order to maintain the status quo. Ultimately it is public that pays the price due to the shortage of doctors in the US. For example, an emergency visit to a hospital becomes a cruel joke with waiting times of 3-4 hours unless one is about to die from an accident or a gunshot wound. To add insult to this injury, after 3-4 months the patient gets hit with a $300-$400 bill depending on the health insurance they have.
Knowledge is Power: Armata, Dead Money, Profits Edition
- Ashmore: This hated market’s bounce-back isn’t over yet (FE Trustnet)
- Perfect Nails, Poisoned Workers (NYTimes)...yet another article on labor exploitation
- 15 years of Vladimir Putin: 15 ways he has changed Russia and the world (The Guardian)
- Have profits peaked? (Fidelity) Also see Why Corporate Profits Are Falling and What It Means for the Stock Market (Schwab)
- Against the tide: Greece – the joker in the pack (Euromoney) Also see Greece debt: What’s it like to live under threat of default? (BBC)
- China: ‘Challenging the bears’ (Invesco Perpetual, UK)
- Bacteria to the rescue (OECD Observer)
- The Dead Money Syndrome (Canadian Investment Review)
- Emerging-Market Opportunities: Look Under the Surface (AB Blog)
- Where Dividend Investors are Seeking Income (Blackrock Blog)
Armata Tank
Photos Courtesy: RT and EnglishRussia
Chile Dividend Withholding Tax Rate Update
The Dividend Withholding Tax Rate imposed by Chile on non-residents used to be 35% until recently. However it has now been reduced to just 20.13%. So the revised rate from 35% to 20% is very for foreign investors investing in Chilean equities. This tax reform also makes Chile attractive in the eyes of international investors especially those looking for income stocks.
Investors looking to gain exposure to Chilean stocks can consider the iShares MSCI Chile Capped ETF (ECH). Currently it has an asset of about $283 million and an expense ratio of 0.62%. The number of holdings in the fund is 36.
For those interested in individual companies, currently 12 firms from Chile trade on the US exchanges as ADRs. Three Chilean banks trading on the NYSE include Banco de Chile(BCH), Banco Santander Chile(BSAC) and CorpBanca (BCA). These currently have dividend yields of 4.69%, 5.34% and 4.48% respectively. Other stocks that investors can consider are Compania Cervecerias Unidas(CCU), Embotelladora Andina – A (AKO.A), Embotelladora Andina – B (AKO.B) and Vina Concha y Toro(VCO) in the beverage sector.
Disclosure: Long BCH, BCA and BSAC
Source: ADR.com
Infographic: Egg Facts
Interesting facts about eggs in this infographic from UN’s FAO:
One large egg (50gr) provides the daily requirements* of 27% selenium, 25% vitamin B12, 23% choline, 15% riboflavin, 13% protein, 11% phosphorus, 9% vitamin D.
* Based on approximate averages for adult male/female from 5 databases (Australia, Canada, China, EU, USA
Click to enlarge
Source: FAO