Global Equity Primer

The U.S. economy benefits from distinct structural advantages compared with foreign economies. These include strong property rights and rule of law, a dynamic labor market, a robust consumption oriented economy, geopolitical stability and deep and liquid capital markets. Such characteristics have allowed the U.S. to attract talent and capital from around the world, incentivize research and development, and flourish as the epicenter of innovation. This has created fertile ground for equity investments as U.S. businesses have achieved impressive profitability and consistently pushed the frontier of technology, including the internet, cloud computing, health care, semiconductors, rocket science and artificial intelligence. Our preference for U.S. equities in recent years has been a rewarding decision for our clients. Over the last decade, U.S. stocks have compounded at more tha