The world equity portfolio is the most diversified equity portfolio available. Investing abroad in a geographically diversified way is easier than it used to be, and there are some great reasons to do it.
The ongoing shifts in US and global equity valuations are something worth watching until the world calms down, because global military tensions could easily get much worse than they currently are. If and when this occurs, global equities could become compellingly cheaper in short order, presenting a potential strategic opportunity, at least if you believe in the global instability premium.
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JPMorgan Asset Management has launched an exchange-traded fund that gives exposure to developed markets outside North America. The JPMorgan BetaBuilders International Equity ETF is linked to the Morningstar Developed Markets ex-North America Target Market Exposure Index. ETF (05 Dec.)
European officials are divided on the best way to proceed toward a banking union. EU Economy Commissioner Paolo Gentiloni calls Germany's proposal unacceptable, while Italian economy minister Roberto Gualtieri says Italy will make its own proposal. Financial Times (subscription required) (05 Dec.)
Dutch Finance Minister Wopke Hoekstra has called on the EU to form a common agency to combat money laundering. "Those who think that this problem is mostly a problem that is linked to some of the banks in some of the countries are up for a rude awakening," Hoekstra says. BNN Bloomberg (Canada) (05 Dec.)
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