Welcome to Money for the rest of us. This is a personal finance show on money, how it works,

how to invest it, and how to live without worrying about it. I'm your host, David Stein.

Today is episode 503. It's titled, U.S. stocks have never been this overhyped.

Yesterday, I pulled up our Asset Camp app. This is our stock and bond market index research

tool. And I wanted to see the updated data and see what was the top performing stock indexes

in November for the 46 stock markets around the world we track. The top seven were U.S. stock indexes, including mid-cap growth,

which was a leading performer. It gained over 12 percent last month. If we compare U.S. stock returns

overall, this would be representative by the S&P 500 index, the topic of episode 500 of money for the rest of us. USA stocks returned

6.2% in November. The rest of the world, excluding U.S., so the MSCI All-Country World

XUS, fell 0.9% in U.S. dollar terms last month. The level of outperformance of the U.S. is astounding.

Year to date, 28% return compared to only 7.6% for all country world X.S. that includes

emerging markets. One year, U.S. stocks have outperformed non-U.S. by 20 percentage points, by almost

eight percentage points over three years, by 10 percentage points over five years, eight percentage

points over 10 years, and five percentage points over 20 years. Why in the world would we ever not

put all of our stock investments in the U.S.

stock market? Well, turns out there are some reasons why, but doing so led to massive underperformance

over the past decade. If we go back to the end of the bear market in March 2009, an investment in an S&P 500 index fund or

ETF would have returned 1,000%. You would have made 10 times your money investing in the S&P,

whereas had you invested outside of the U.S., you would have only returned

two and a half times your money. So a 270% return compared to a thousand percent return

for the S&P 500. Investors in the U.S. are credibly bullish, especially after the U.S. presidential election with perhaps

lower taxes, reduced regulations, tariffs that could benefit U.S. companies compared to the rest of

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