Brings to mind the story of the Austrian magnate Karl Wittgenstein, father of Ludwig Wittgenstein, who before WWI invested heavily in the US and therefore after WWI found himself much richer than his Austrian compatriots.As for folk's that believe that in the USA exceptionalism, I wish them the best of luck. Based on the thousands of years of world history, all countries go through cycles of boom and bust.I expect the U.S. to hit the point where it can no longer pay debt in bonds back to investors. So I think owning international is a good diversifier.
KlangFool
From the wiki, "By the end of the nineteenth century, Karl Wittgenstein had become one of the wealthiest men in Europe and a leading figure in the iron and steel industry. In 1898, he retired from his posts and transferred much of his wealth to foreign equities, principally in the United States which protected the Wittgenstein family from the inflation in Vienna after the First World War." https://en.m.wikipedia.org/wiki/Karl_Wittgenstein
The lesson being not to invest in the US per se but in baskets beyond one's borders.
Statistics: Posted by epicureme — Sat Jul 06, 2024 2:29 am — Replies 6321 — Views 1616623