$VWO
Vanguard Emerging Markets Stock Index FundCurrency risk in international investing — how I think about it
US market is 65% of global market cap. Holding only US stocks is an active bet that this concentration persists. I hold 30% international (VXUS) because I don't know which market wins over 30 years.
Geopolitical risk premium in EM — is it priced in?
Currency risk is real but bidirectional. A weaker dollar helps your international returns. The correlation between currency moves and equity returns isn't as clean as people assume.
European stocks: cheap for a reason or screaming buy?
European valuations: P/E of 14x vs S&P at 22x. Yes Europe has structural issues. But an 8x multiple gap is a lot of buffer for things to go wrong.
European stocks: cheap for a reason or screaming buy?
US market is 65% of global market cap. Holding only US stocks is an active bet that this concentration persists. I hold 30% international (VXUS) because I don't know which market wins over 30 years.
Japan equities: is the cheap valuation finally working?
Currency risk is real but bidirectional. A weaker dollar helps your international returns. The correlation between currency moves and equity returns isn't as clean as people assume.
The case for international diversification in 2026
Currency risk is real but bidirectional. A weaker dollar helps your international returns. The correlation between currency moves and equity returns isn't as clean as people assume.
Currency risk in international investing — how I think about it
India thesis: 1.4B population, median age 28, rising middle class, English-speaking workforce, democratic rule of law. GDP growth 6-7%. Market is expensive but for a reason.
MSCI World ex-US: case for owning it despite recent underperformance
European valuations: P/E of 14x vs S&P at 22x. Yes Europe has structural issues. But an 8x multiple gap is a lot of buffer for things to go wrong.
Withholding taxes on international dividends — what I've learned
China: discount exists for regulatory risk, geopolitical risk, and opacity. I reduced China from 15% to 5% of my international allocation. Still there, but sizing reflects the risks.
MSCI World ex-US: case for owning it despite recent underperformance
China: discount exists for regulatory risk, geopolitical risk, and opacity. I reduced China from 15% to 5% of my international allocation. Still there, but sizing reflects the risks.
International small cap: the most overlooked asset class
India thesis: 1.4B population, median age 28, rising middle class, English-speaking workforce, democratic rule of law. GDP growth 6-7%. Market is expensive but for a reason.
Canadian stocks: cross-border opportunity?
European valuations: P/E of 14x vs S&P at 22x. Yes Europe has structural issues. But an 8x multiple gap is a lot of buffer for things to go wrong.