A reader wonders how well or poorly Singapore small-cap value stocks have performed as a basket in the past. I must let him know that I probably don’t have small-cap value data for Singapore. But I do have nice MSCI Singapore and MSCI Singapore small-cap data. What is nice is that we can compare the performance of Singapore and Singapore’s small-cap to the glorious US blue chip index. Mr Loo of 1M65 likes to say the STI is the Singapore terrible index so it is only right we do some data crunching. We start off by reflecting upon how much the currency denomination matter in returns. Performance of MSCI Singapore (SGD) vs MSCI Singapore (USD) One very common mental misdirection comes from people comparing the returns of a USD-denominated index such as the S&P 500 to a SGD-denominated index such as the STI ETF. Is the S&P 500 always better than a Singapore index?...