While a chorus of market experts is telling investors to look outside of the U.S. for big returns, at least one loud voice is singing a very different tune -- Vanguard Group founder Jack Bogle.
“I believe the U.S. is the best place to invest,” Bogle said in a telephone interview. “We probably have the most technology oriented economy in the world. I would bet that the U.S. will do better than the rest of the world.
This advice flies in the face of the market’s recent conventional wisdom. Numerous equities analysts and strategists at firms like BlackRock Inc., Morgan Stanley and Deutsche Bank AG have encouraged investors to overweight European stocks because of robust growth expectations and relatively high valuations in U.S. equities.
“Every single person I think I have ever talked to tells me I am wrong in this,” Bogle said. “If you believe in the majority, you can just throw my opinion in the waste basket. But on the other hand, I was brought up in this business and I am saying ‘the crowd is always wrong.’”
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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