Gorman refutes the arguments that rising correlations and costs, increasing exchange rate volatility, and underperformance of non-U.S. markets make investing in international equity undesirable or, at best, irrelevant. He uses a detailed analysis of the data to show not only that historical evidence supports a strategic allocations to international equity, but that the typical U.S. pension plan is underexposed.
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Gorman refutes the arguments that rising correlations and costs, increasing exchange rate volatility, and underperformance of non-U.S. markets make investing in international equity undesirable or, at best, irrelevant. He uses a detailed analysis of the data to show not only that historical evidence supports a strategic allocations to international equity, but that the typical U.S. pension plan is underexposed.
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