This monograph refutes arguments that rising correlations and costs, increasing exchange rate volatility, and underperformance of the non-U.S. markets make investing in international equity undesirable or, at best, irrelevant.
This monograph refutes arguments that rising correlations and costs, increasing exchange rate volatility, and underperformance of the non-U.S. markets make investing in international equity undesirable or, at best, irrelevant. The author uses a detailed analysis of the data to show not only that historical evidence supports a strategic allocation to international equity but that the typical U.S. pension plans is underexposed.