Investing in International Equities: Lessons from a Decade of Strong US Equity Markets
回顾了美国股市过去十年表现优于全球其他地区的情况，并分析了非美国股票投资在分散化组合中是否仍有价值，认为更广泛的机会和相对估值优势仍是支持国际投资的理由。
The aggregate US equity market has outperformed the rest of the world over the past decade. Additionally, correlation across equity markets of different geographic regions has increased over time. With this in mind, many investors question whether non-US equity investment should still play a role in diversified investment portfolios. The authors review the widely used reasons investors consider to support non-US investments and argue that the broader opportunity set and attractive relative valuations remain valid reasons.