International Diversification Works (Eventually)

被引：31

作者：

Asness, Clifford S. ^{[1
]}

Israelov, Roni ^{[1
]}

Liew, John M. ^{[1
]}

机构：

[1] AQR Capital Management LLC, Greenwich, CT USA

来源：

FINANCIAL ANALYSTS JOURNAL | 2011年 / 67卷 / 03期

关键词：

HOME BIAS; ASSET ALLOCATION; EQUITY MARKETS; PORTFOLIOS; RETURNS; RISK;

D O I：

10.2469/faj.v67.n3.1

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Critics of international diversification observe that it does not protect investors against short-term market crashes because markets become more correlated during downturns. Although trite, this observation misses the big picture. Over longer horizons, underlying economic growth matters more than short-lived panics with respect to returns, and international diversification does an excellent job of protecting investors.

引用

页码：24 / 38

页数：15

共 30 条

[1] International asset allocation with regime shifts [J].