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Is the World Stock Market Really Divided Into Emerging Markets?
Over the last decade, the US has outperformed every other country. So holding on to that belief that you shouldn't have too large US exposure would have been difficult during that decade and also very expensive. I've often wondered whether this breakdown of the world stock market is inter just developed markets and emerging markets. Does that even make sense anymore? We always talk about the problem with it needs a lot of discipline because our performance can persist for a long time.