“Home bias” is one of the great money management foibles, but don’t tell that to U.S. investors. They have been favoring their domestic stock market and loving it. The S&P 500 closed up almost 29% in 2019—its best annual performance since 2013. The Stoxx Europe 600, meanwhile, gained 23%. The difference over the past three decades is huge: Since 1988, as far back as data are available, the MSCI All Country World Index excluding U.S. stocks has delivered an 860% return, whereas the MSCI USA has returned more than 2,700%....

Source: Wall Street Journal January 03, 2020 10:36 UTC