Going Global Slowly

While we’ve long favored US stocks over global ones, recent developments in Germany and China have made us more sanguine on investing in economies abroad. We’re maintaining our “Stay Home” investment approach but lightening up on the degree with which we would underweight the MSCI All Country World ex US index relative to the MSCI US index. Eric explains the changes in the macroeconomic and political backdrops of the EU and China that have decreased our bearishness on equity markets outside the US.