Investing With IBD Ep. 355 Why It’s Now Paying Off To Invest Beyond U.S. Markets
Jan 14, 2026
David Cox, a senior portfolio manager at Raymond James, delves into why expanding investment horizons beyond U.S. markets can yield strong returns. He discusses the overlooked strength of foreign stocks, especially in banking and commodities, and highlights Canada’s performance driven by its sector mix. Cox explains the advantages of using macro and technical analysis to identify opportunities, including in emerging markets and crypto. With insights on managing risk and avoiding common investor biases, he provides a roadmap for savvy global investing.
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Biases Hide Global Opportunities
- Investors carry geographic and sector biases that blind them to opportunities outside their home market.
- David Cox warns these biases can work against you when market leadership shifts.
Size Labels Depend On Sector Mix
- Canadian small-caps are outperforming U.S. small-caps, showing regional sector composition matters.
- 'Small' and 'large' mean different things when sector weights differ between markets.
Start With A Top‑Down Relative Scan
- Start top-down: view monthly charts across global markets before picking sectors or stocks.
- Then run relative comparisons to the S&P 500 to find improving regions or sectors to lean into.
