TY - JOUR T1 - Time to Stay Home? <em>Global Diversification during</em> <br/> <em>the Past 25 Years</em> JF - The Journal of Wealth Management SP - 37 LP - 45 DO - 10.3905/jwm.2017.20.1.037 VL - 20 IS - 1 AU - Stephen E. Christophe Y1 - 2017/04/30 UR - https://pm-research.com/content/20/1/37.abstract N2 - 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 ER -