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The World Cup of Investing

It is a core tenet of our investing philosophy that it is very difficult to pick 'winners' when comparing between the future stock market performance of two different companies.  However it is obvious that one can at least make some reasonable predictions about which country's markets will do better or worse in the coming year.  Obvious but wrong.  Jim Parker, Vice President of Dimensional shares his views on why global geographic diversification is as important as diversification between similar but competing companies at the stock specific level, and uses some very interesting evidence from historical market performances to prove his point.

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by John Stirling