重壓美國 vs 分散世界 - 投資

https://www.morningstar.com/articles/885739/why-jack-bogle-doesnt-own-non-us-s
tocks

2018年約翰伯格訪談:

我整理了一下結論：
Jack Bogle （約翰伯格）不理解為什麼一定要持有非美股票（Jack Bogle：I don't qui
te understand
where this thing is that you must have a global portfolio）他本人持有0% non-US
sto
ck、並且認為美國公司賺取大量海外收入、美國企業高度分散各個領域、現在是全球化的
社會、世界經濟上是連動的。

並且認為新興市場是危險的、脆弱的貨幣、不穩定的政府政策、不完全開放的金融市場

他認為、如果你一定要買國際非美市場、持有國際股票超過20%是很冒險的、對於那種資
產配置裡面有25%，35%、45%的非美股票、對於他的認知來說：risky


《目前世界名人看法》
約翰伯格（被動投資之精神領袖）：all in VTI
巴菲特：all in S&P500
慢慢致富作者：all in VTI

Bogle:
-than in the U.S. despite the inferior performance. I don't quite understand
where this thing is that you must have a global portfolio. Maybe it's right. O
f course, maybe anything is right, but I think the argument favors the domesti
c U.S. portfolio, and they have to worry about whether the dollar is strong or
weak. One more risk.

Many of these foreign nations, particularly emerging markets nations--which ar
e, I think, around 20% of the non-U.S. index--are very risky, very interest-ra
te sensitive, governmentally not as strong or maybe capable of tipping over ra
ther easily. I do tell people, feel free to disagree with me because I'm not a
lways right, but I have 0% in non-U.S. I say you don't need to have non-U.S.,
but if you do, limit it to 20%. A lot of portfolios now have 25%, 35%, 45% in
non-U.S. securities, and I think that's just too much.


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