5min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

TIP568: Current Market Conditions, Alternative Assets, & AI w/ David Stein

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

The Role of International Stocks in a Portfolio

The US stock market has returned 12.2% annualized over the past decade. Dividends and earnings growth contributed 1.9% points to that return, but valuation increase for US stocks was really a huge driver. The strengthening dollar actually helps non-US stocks because many foreign corporations borrow in US dollars. And so if we see a re-pricing of non-US shares where they get closer to what US are paying for them, you would see a positive valuation adjustment.

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