International Stocks vs. US Stocks
International stocks are still cheaper and they are doing better now. In this newsletter, we review their valuation and discuss their roles in our asset allocation portfolios.
We have long argued that one needs to diversify among international stocks (both foreign developed country stocks and emerging market stocks). However, for the past 11 years or so, US stocks have continued to defy many, outperforming foreign stocks by a large margin.
Let’s first take a look at the returns for the past 10 years:
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