Applying Proper Valuation Techniques Every Investor Must Be a Global Investor

Long-Term Investors Need To Focus on Equities in Foreign Countries

In general, we believe it’s prudent for long-term investors to have a significant and growing portion of their portfolios allocated to equities in foreign countries that are growing faster than the U.S. and whose currencies will likely appreciate against ours. We’ve primarily been investing in closed-end funds offering a double discount – trading at a discount to their net asset values and in what we believe are growth economies undervalued by the capital markets.