@article {Christophe37, author = {Stephen E. Christophe}, title = {Time to Stay Home? Global Diversification during the Past 25 Years }, volume = {20}, number = {1}, pages = {37--45}, year = {2017}, doi = {10.3905/jwm.2017.20.1.037}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Over the past 25 years, as financial markets have become increasingly integrated, the role of foreign equities in a well-diversified portfolio has become increasingly uncertain. We present evidence that a globally diversified portfolio underperforms, on average, a U.S.-only allocation. Investors should not be overly optimistic about the potential benefits of international portfolio diversification.TOPICS: Portfolio theory, portfolio construction, global, performance measurement}, issn = {1534-7524}, URL = {https://jwm.pm-research.com/content/20/1/37}, eprint = {https://jwm.pm-research.com/content/20/1/37.full.pdf}, journal = {The Journal of Wealth Management} }