Our industry’s most ubiquitous disclaimer, “Past performance is no guarantee of future results,” is good advice.  Despite this advice, many investors make decisions based on the emotional journey of past performance – money follows performance.  US investors are now pulling money out of international stocks following a decade of flat returns and 6 years of underperformance relative to US stocks; meanwhile, at RiverFront, we are adding to our international holdings.  

David Fuller's view

Rod Smyth is a very good contrarian thinker.  This is a fascinating issue – a collector’s item for students of stock markets. 

Here is The Weekly View.

Please note: I will be away on Friday.