The idea of global diversification seems to be relatively new (mainstream in the last ~20 years), and I'm wondering if there's any data out there comparing specifically NA (Canada & US) markets to global markets.
I don't love the idea of owning European and Emerging market stocks. I don't understand their economies, their politics, or their companies. As a Canadian, I'm much more comfortable investing in Canada and the US, mainly because I understand them, and also because the companies in NA are already global, so it's more than enough diversification in my mind.
So, how risky is it to not own a global portfolio? Would owning 70% US and 30% CAD equities be too risky compared to a total world approach?
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