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| Tekijä: | Statman, M. |
| Otsikko: | Foreign stocks in behavioral portfolios |
| Lehti: | Financial Analysts' Journal
1999 : MAR/APR, VOL. 55:2, p. 12-17 |
| Asiasana: | FINANCE USA INVESTORS |
| Kieli: | eng |
| Tiivistelmä: | By the rules of mean-variance and the example of the global equity market, foreign stocks should be attractive to US investors, so why are investors so apprehensive about foreign stocks? The foreign stocks in US investors' portfolios have not done well lately. To some, such as Lowenstein (1997), the lesson for US investors is that global investing is bunk. "You can lead a happy investment life without leaving home", he wrote. But the real lesson from the recent performance of foreign stocks is about the construction of behavioral portfolios and the role that investors assign to foreign stocks within behavioral portfolios. |
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