Les investisseurs americains envient les actionnaires de Nicox

American investors
By Todd Wenning, January 5, 2007

Do you think you had a great investing year? In fact, you probably did. The Dow set new records, corporate earnings were up, and the S&P 500 made double-digit gains.

But heck, if you were truly happy with your gains this year, then you should probably just go ahead and buy an index fund. Because you could have done a lot better.
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In fact, the U.S. stock markets were some of the worst places for American investors to have their money in 2006. So while you're sitting around applauding your 13% gains this year, investors in Sweden and Spain are laughing at you. That's right, even the Swedes are laughing.

It's not entirely your fault
Of course, one of the reasons American returns look paltry compared with the rest of the world this year is the weakening dollar. And there's not much American investors can do about that other than learn to live with it -- or perhaps write a nasty email to Congress.
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Fortunately, all is not lost
And while it can be difficult for American investors to pick up European shares such as Vallourec SA and Nicox SA on the pink sheets, the times may be changing. Both of those issues trade on the Euronext exchange, which recently agreed to be acquired by NYSE Group (NYSE: NYX). And with Nasdaq (Nasdaq: NDAQ) battling for the London Stock Exchange, more European stocks are likely to become available to U.S. investors in the near future.
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