Issue link: http://read.jpmorgan.com/i/454726
J . P . M O R G A N A S S E T M A N A G E M E N T 1 1 A P P E N D I X EXHIBIT 2: HOW PATIENT AN INVESTOR ARE YOU? The number of years a country's public equity market underperformed relative to the global index 2004 to 2013 0 1 2 3 4 5 6 7 8 9 Years of Underperformance Italy Taiwan UK U.S. China Russia Brazil Canada France Germany Japan Korea Mexico 8 7 6 6 5 5 5 5 5 5 5 4 3 Source: J.P. Morgan Asset Management. EXHIBIT 3: THERE IS A MISMATCH BETWEEN GLOBAL ECONOMIC ACTIVITY AND MARKET CAPITALIZATION World total GDP in USD, selected countries, as of December 31, 2013 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 GDP ($Trillion) U.S. China Japan Germany France UK Brazil Russia Italy India Canada Australia Spain Mexico $16.80 $9.18 $4.90 $3.64 $2.74 $2.54 $2.24 $2.12 $2.07 $1.87 $1.83 $1.51 $1.36 $1.26 Source: J.P. Morgan, International Monetary Fund (WEO Database). Market capitalization in MSCI ACWI, selected countries, 2013 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 Market Cap ($Trillion) U.S. China Japan Germany France UK Brazil Russia Italy India Canada Australia Spain Mexico $18.87 $2.21 $3.51 $1.88 $1.77 $3.61 $1.08 $0.58 $0.43 $0.76 $1.53 $1.23 $0.63 $0.44 Source: J.P. Morgan, FactSet, MSCI.