Are the Economy and Financial Markets Zero-Sum Games?
Money For the Rest of Us
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The Importance of Investing in a Global Market
We expect non-US stocks to outperform over the next decade or so. A rational investor would own a size weighted portfolio and not overweight a particular market unless they have a reason to do it. It's simply not logical for investors in every country to believe their home market is going to outperform. We don't know what's going to happen but it's important to understand what drove returns, how much was due to the cash flow, the earnings growth, valuation changes and even the impact of currencies.
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