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Buy the Dip is Dead (EP.288)

Animal Spirits Podcast

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XUS Against US Stocks

The relative valuation of the all-country world index XUS versus US. is as low as it's been at any time over the last, I don't know, 25 years or so. If we are on the other side of growth versus value and the US dollar pulls back, it is very easy to see a year finally in which US stocks underperform international stocks by more than a little. Which no one is positioned for.

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