The day after Dimson was re-elected (or something), I was so pissed I called Fidelity and had them move my TSA from Money Market to anything outside the country. I asked if they had anything from Canada. They did. Since then, my TSA has grown by 44%... I didn't know that FICDX is heavily into Canadian oil and gas.
Is Wall Street doing the same... investing in foreign stocks?
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Your U.S. Fund May Be Scurrying Abroad
By ANDREW BLACKMAN
Staff Reporter of THE WALL STREET JOURNAL
February 5, 2006
Thinking of boosting your exposure to foreign stocks? Not so fast. The managers of your U.S.-stock mutual funds may already have done it for you.
Some of the largest funds emphasizing U.S. stocks have recently been investing significant chunks of their portfolios outside the U.S. The $51 billion Fidelity Magellan Fund, for example, recently disclosed that 25% of its portfolio was in foreign securities at year end, up from just 4.2% three months earlier.
Another plus for foreign stocks: Many investors expect the dollar to come under pressure over the coming years as the U.S. grapples with massive trade deficits. A falling dollar would boost returns on foreign investments when translated back into dollars.
http://online.wsj.com/public/article/SB113909243013165298.html?mod=sunday_journal_primary_hs