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Foreign Stocks: How Much, and Why You'll Hate It

International equities have trailed US stocks for fifteen years. That's exactly why an allocation now is defensible.

Valuations matter eventually. Developed and emerging markets trade at meaningful discounts to US large caps. The setup for the next decade is structurally different from the last.

Twenty to thirty percent of your equity sleeve in international index funds is a sensible default. Be prepared to hold through more underperformance before any reversion.