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| Author: | Sinquefield, R. |
| Title: | Where are the gains from international diversification? |
| Journal: | Financial Analysts' Journal
1995 : JAN-FEB, VOL. 52:1, p. 8-14 |
| Index terms: | USA INTERNATIONAL DIVERSIFICATION |
| Language: | eng |
| Abstract: | U.S. investors may want to rethink how they diversify internationally. Theory and evidence suggest that in a world of three equity risk classes - market, size , and value - foreign market portfolios do not reduce the variability of domestic portfolios nor do they raise expected returns. But foreign small stock and value portfolios provide both of these benefits. Investors not wishing to hold above-market proportions of value and size portfolios probably need not diversify internationally. |
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