Hello, Subscribers!
Home-country bias, whereby investors tend to heavily favor their local markets, is a well-known phenomenon. It is particularly acute in the U.S. presently after nearly 15 years of extreme outperformance relative to the rest of the world.
Yet, there does appear to be a transition underway with a number of international indexes generating higher returns this year than the S&P 500 has. In that regard, note the following five-year chart of the MSCI Asian Pacific Index: