Welcome podcast friends we have a fantastic episode for you today.

Last year we brought listeners the entire volume of the

best investment writing volume three in audio format right here on the

podcast. Listeners loved it so we're running it back again this year,

for the best investment writing volume four.

You'll hear from some of the most respected money managers

and investment researchers from all over the planet.

Hi, this is Anil Rao.

Thank you for taking the time to listen today.

I am in the Equity Research Group at MSCI, which is a provider of research-based

indexes and analytics.

To learn more about us, you can find us at MSCI.com.

Today, I'm going to read a piece from February 2019 titled Game of Homes, Revisiting the Home Bias.

While it's a year old, I think you'll find the message still relevant.

The accompanying plots for this reading can be found by searching for Game of Homes on the MSCI.com site.

With that, let's begin.

Game of Homes is winter coming for the domestic equity bias.

U.S. wealth advisors, allocation models have a considerable overweight to U.S. equities

when compared to a capitalization weighted benchmark.

Although historical signals of a U.S slowdown show signs of abating, including last month's

inversion of the U.S. yield curve, asset allocators with the U.S. equity

overweight could still be exposed to an additional source of equity risk, home bias risk.

...