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The R&D Investment Landscape
This chapter explores the intricacies of international investment with insights from Bogle’s writings, arguing for a focus on U.S. investments while examining the cyclical nature of market performance. It highlights the critical role of research and development (R&D) spending in driving innovation, comparing U.S. companies with their European and global counterparts. The discussion also addresses the challenges Europe faces in enhancing its R&D capabilities and contrasts cultural approaches to innovation in the U.S. and China.