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News : World Last Updated: Feb 2nd, 2020 - 18:49:41

Top 5 in 5, a world beater in 2015 and 2018
By Marston Gordon
Feb 2, 2020, 18:36

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According to Bloomberg Businessweek, Jamaica’s stock market ranked as the world’s best-performing stock market in 2015 and 2018.

The cumulative returns on the main market for the years 2015 to 2019 was 686.24% with the top 5 gainers amassing the following:

Pulse Investments Limited: 9,085.9%
Jamaica Stock Exchange Limited: 8,683.1%
Palace Amusement Company (1921) Limited: 4,294.0%
Caribbean Cement Company Limited: 3,361.1%
Barita Investments Limited: 3,115.9%

Although the junior market was less robust, it chalked up cumulative returns of 476.2% with its top 5 gainers:

Honey Bun (1982) Limited: 2,013.9%
Derrimon Trading Company Limited: 1,090.7%
Jamaican Teas Limited: 899.2%
Blue Power Group Limited: 610.5%
Paramount Trading (Jamaica) Limited: 606.0%

The Jamaican dollar lost 15.62% vis-a-vis the United States dollar over the said period and cumulative inflation was 19.2%. In whatever language, even after adjusting for exchange rate or inflation the stock market returns were mind boggling.

Source: Jamaica Stock Exchange, Bloomberg Businessweek, Statin, Bank of Jamaica

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