Ben Carlson, Columnist

U.S. Investors Need to Shed Their Home-Country Bias

American financial assets are expensive, but foreign markets offer higher yields.

January 23, 2018 at 5:54 PM UTC

Ben Carlson is director of institutional asset management at Ritholtz Wealth Management. He is the author of "Organizational Alpha: How to Add Value in Institutional Asset Management."

Not the center of the universe.
Photographer: Mario Tama/Getty Images

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Investors have been told for a few years that all financial assets are expensive. This conclusion has led market participants from retirees to pension plans to worry about future returns given that government bond yields are at sub-3-percent levels and stock market valuations are close to the highest levels in history.

But these investors may be looking in the wrong place.