PT - JOURNAL ARTICLE AU - Stephen E. Christophe TI - Time to Stay Home? <em>Global Diversification during</em> <br/> <em>the Past 25 Years</em> AID - 10.3905/jwm.2017.20.1.037 DP - 2017 Apr 30 TA - The Journal of Wealth Management PG - 37--45 VI - 20 IP - 1 4099 - https://pm-research.com/content/20/1/37.short 4100 - https://pm-research.com/content/20/1/37.full AB - 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