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Der Portfolioverwalter von Vontobel, Markus Hansen, spricht mit Yahoo Finance über drei Unterhaltungsaktien, die er liebt: Netflix (NFLX), Games Workshop (GMWKF) und F-1 Group (FWONK).

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Im letzten Jahr haben viele Insider ihre Anteile an Games Workshop Group PLC (LON:GAW) erheblich erhöht. Dies ist ermutigend, da es darauf hindeutet, dass die Insider optimistischer über das Unternehmen sind. Der größte Insiderkauf im letzten Jahr wurde von CEO & Executive Director Kevin Rountree getätigt und belief sich auf UK£381k. Es ist jedoch zu beachten, dass dieser Kauf bei einem niedrigeren Preis erfolgte als der aktuelle Kurs von UK£196. Die Insider von Games Workshop Group haben in den letzten 12 Monaten keine Aktien verkauft.

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Glowing globe centered on the U.S. with light trails radiating outward, symbolizing capital flowing into international markets.

Key Points

The gap between United States and European equity valuations has widened, pushing some global stock pickers to look overseas for “quality at a reasonable price.” Pieter Slegers highlighted Games Workshop, Investor AB, and LVMH-Moet Hennessy Louis Vuitton as examples of durable businesses he believes are priced more attractively than many U.S. peers. The argument rests on selective stock-picking rather than a blanket “Europe is better” call, with the main risk being that cheaper European valuations persist longer than expected. Interested in Games Workshop Group PLC? Here are five stocks we like better.

U.S. markets have dominated for the better part of two decades. But the cycle may be turning—and the valuation gap between American and European equities is getting harder to ignore.

Pieter Slegers from Compounding Quality spends his time searching for businesses with high margins, strong balance sheets, and durable competitive advantages. And increasingly, the best risk-reward setups are showing up outside of the United States.

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Why the U.S.-Europe Valuation Gap Matters Now

Slegers doesn't pretend Europe is broadly better than the United States. He's the first to say that U.S. companies, on average, have higher margins and stronger fundamentals. But that's exactly what makes selective European investing so interesting right now. When you find a company in Europe that matches U.S. quality, you're often paying 14 or 15 times earnings instead of 25.

Markets move in cycles. Historically, the United States outperforms international markets for about eight years, then the pattern reverses. The current U.S. streak has lasted roughly 16 years—an unusually long run. Slegers recommends that investors consider allocating 40% to 50% of investable assets outside U.S. stocks for genuine geographic diversification.

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As he put it, quoting Buffett: only when the tide goes out do you discover who's been swimming naked. That backdrop frames the stocks he brought to the table.

Games Workshop: The Compounder Hiding in Plain Sight

The first name is one almost no U.S. investor will recognize: Games Workshop (LON: GAW). This UK-based company produces miniatures for tabletop board games—a weird niche, and that's the point. Niche businesses with fanatical customer bases tend to generate the kind of pricing power that shows up in long-term stock charts.

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Story Continues

And the GAW chart is remarkable. Games Workshop has compounded at 140x since 1994, making it the best-performing stock in the United Kingdom over that stretch. The company raises prices 5%-6% annually, and customers stay.

Slegers compared the loyalty to addiction: "Once you are a Games Workshop player, you always stick to the game." One anecdote he shared involved a club leader who owned $125,000 worth of miniatures.

The same CEO has led the company for over 20 years, and a pending deal with Amazon (NASDAQ: AMZN) could serve as the next major catalyst. At current levels, this isn't a company where the growth story is over—it's one where the moat keeps widening.

Investor AB: Europe's Answer to Berkshire Hathaway

If you want broad European exposure through a single stock with a proven track record, Investor AB (OTCMKTS: IVSBF) is the name Slegers highlighted. This Swedish holding company has been around since 1916, and the Wallenberg family still owns 20% of the business.

Investor AB operates across three segments: direct stakes in listed European companies like Atlas Copco (OTCMKTS: ATLKY) and ABB (NYSE: ABBNY), private equity activities, and growth investments.

Since 2001, the stock has roughly doubled every five years. Slegers has dined with the CFO and head of investor relations multiple times and says the management team walks the talk.

The case here is simple. If you're looking for first-time European exposure, Investor AB has significantly outperformed the Stoxx Europe 600 over the medium and long term, with a management team whose incentives are deeply aligned with shareholders.

LVMH Moët Hennessy Louis Vuitton: Luxury at a Discount to the S&P 500

LVMH Moët Hennessy Louis Vuitton (OTCMKTS: LVMUY) needs less introduction. The French luxury conglomerate behind Louis Vuitton, Dior, and dozens of other iconic brands is one of Europe's largest companies. Bernard Arnault, the richest man in Europe, owns 50% and keeps buying more shares year after year.

Two dynamics make LVMH compelling at current prices. First, luxury is extraordinarily difficult to replicate—brand equity built over decades doesn't get disrupted overnight.

Second, the company's growth in China and broader Asia remains a powerful long-term tailwind. At roughly 20 to 21 times earnings, LVMH trades slightly below the S&P 500 average while offering fundamentals that are meaningfully better than the typical index constituent. Cheaper and better is a combination worth paying attention to.

The Common Thread Across These Names

Every stock on this list shares a few traits: founder-led or long-tenured management, durable competitive advantages, and valuations that look attractive relative to U.S. peers. The risk is that European markets stay cheap longer than expected. The upside is that a rerating is already underway as more institutional capital rotates toward international equities.

You don't need to go all-in on Europe to benefit. But ignoring the opportunity entirely—especially when quality names trade at meaningful discounts—means leaving diversification and potential returns on the table. That's the setup heading into the rest of 2026.

Watch the full video above for a deeper look at these names (and more).

The article "3 International Stocks Most U.S. Investors Have Never Heard Of" was originally published by MarketBeat.

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Zusammenfassung (maximal 500 Wörter)

Der FTSE 100 Index erlebte 2025 ein bemerkenswert erfolgreiches Jahr, das mit einem historischen Durchbruch der 10.000-Punkte-Marke am ersten Handelstag von 2026 gipfelte. Trotz anfänglicher Verluste stieg der Index stark an und gewann im Laufe des Jahres 22 %, was deutlich besser war als der FTSE 250 (9,0 %) und der AIM All-Share Index (6,4 %). Diese Leistung wurde teilweise durch die vorsichtige Haltung der US-Investoren beeinflusst, die ihren Fokus von volatilen Technologieaktien wegraderten.

Die Stärke des Index resultierte aus seiner defensiven Natur, dank eines Portfolios etablierter Unternehmen im Bank- und Rohstoffsektor – oft als “langweilig” beschrieben, aber dennoch stabile Dividenden und langfristiges Wachstum boten. Etwa 75 % des Indexumsatzes entstammten im Ausland, was ihn zu einem besseren Indikator für globale Wirtschaftstrends machte als alleinige britische Investorenkonfidenz.

Mehrere wichtige Änderungen beeinflussten die Zusammensetzung des Index. WPP, ein großes Werbeunternehmen, erlebte aufgrund von Kundenverlusten, zunehmender Konkurrenz durch KI-basierte Unternehmen und rückläufigen globalen Marketingausgaben einen dramatischen Rückgang (59 %). Die daraufhin durchgeführte strategische Überprüfung unter der Leitung der neuen CEO Cindy Rose zielte darauf ab, diese Probleme zu beheben, aber der negative Trend setzte sich fort. Der Wert von WPP sank drastisch und reduzierte sich auf etwa 3,1 Milliarden Pfund.

Umgekehrt kehrte das britische Luxusmodehaus Burberry in den FTSE 100 zurück, nachdem sich der Luxussektor erholt hatte, und demonstrierte eine erfolgreiche Erfolgsgeschichte. Metlen, ein griechisches Industrie- und Energieunternehmen, schloss sich ebenfalls dem Index an, während Coca-Cola Europacific Partners und Games Workshop hinzugefügt wurden, was starke Leistungen und strategische Erweiterungen widerspiegelte.

Mehrere Unternehmen wurden jedoch aus dem FTSE 100 entfernt, darunter Frasers Group und B&M European Value Retail, was schwächere Leistungen oder strategische Veränderungen widerspiegelte. Bauunternehmen wie Taylor Wimpey und Vistry, zusammen mit Unite Group, wurden in den FTSE 250 abgewertet. Die Änderungen des Jahres zeigten die anhaltende Entwicklung und Dynamik des FTSE 100 und zeigten eine Mischung aus etablierten defensiven Sektoren und Wachstumschancen.

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The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But when you pick a company that is really flourishing, you can make more than 100%. To wit, the Games Workshop Group PLC (LON:GAW) share price has flown 146% in the last three years. Most would be happy with that. It's also up 13% in about a month.

The past week has proven to be lucrative for Games Workshop Group investors, so let's see if fundamentals drove the company's three-year performance.

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While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

During three years of share price growth, Games Workshop Group achieved compound earnings per share growth of 15% per year. This EPS growth is lower than the 35% average annual increase in the share price. So it's fair to assume the market has a higher opinion of the business than it did three years ago. It is quite common to see investors become enamoured with a business, after a few years of solid progress.

You can see below how EPS has changed over time (discover the exact values by clicking on the image).LSE:GAW Earnings Per Share Growth November 6th 2025

We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. This free interactive report on Games Workshop Group's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

What About Dividends?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Games Workshop Group, it has a TSR of 179% for the last 3 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.

Story Continues

A Different Perspective

We're pleased to report that Games Workshop Group shareholders have received a total shareholder return of 45% over one year. And that does include the dividend. That's better than the annualised return of 14% over half a decade, implying that the company is doing better recently. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Games Workshop Group , and understanding them should be part of your investment process.

Games Workshop Group is not the only stock insiders are buying. So take a peek at this freelist of small cap companies at attractive valuations which insiders have been buying.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on British exchanges.

Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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