Subject: Re: Brazil the cheapest?
AI suggests Reits have outperformed equities in the US. The US market is also best for Reits vs UK.

The problem there might be "AI suggests..."?

As a random demonstration, the largest US REIT ETF is VNQ.
It has pretty steadily underperformed the average S&P 500 firm since inception in 2004. It has lagged RSP by a pretty remarkable 2.93%/year over 21.5 years with dividends reinvested. (RSP tracks the S&P 500 equal weight index, so it's a proxy for the average big firm)

Some investors are attracted to certain REITs for very high coupons. (I'm not saying anyone is suggesting that). But stocks with very high yield tend to have poor total returns. For example, the top 5% of yielders among reasonably sized US stocks lagged the S&P 500 by 4.6%/year since then, counting dividends for both.

Jim