Could you spell out what you mean? or point to someone who claims to believe this in more detail?
What much of the world was industrializing after the war? What percentage of publicly traded firms exploit foreign investment opportunities?
The German stock market did a lot better than the US market in the 50s.
later: it would make more sense to talk about reconstructing Europe and Japan than about industrializing new places, but my other comments continue to stand: why would US equities be a good way to invest in Germany, and why would does the US return beat the European returns, when Europe captured most of the value of its reconstruction?
Could you spell out what you mean? or point to someone who claims to believe this in more detail?
What much of the world was industrializing after the war? What percentage of publicly traded firms exploit foreign investment opportunities?
The German stock market did a lot better than the US market in the 50s.
later: it would make more sense to talk about reconstructing Europe and Japan than about industrializing new places, but my other comments continue to stand: why would US equities be a good way to invest in Germany, and why would does the US return beat the European returns, when Europe captured most of the value of its reconstruction?