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The United States currently represents 60% of the global equity market.¹ This means investors with an extreme home bias are ignoring 40% of the equity universe. In truth, doing so over the last 14.5 years would have worked out for you, but markets are cyclical, so it’s unlikely this lasts forever. There’s also a long history of throne-swapping between U.S. and international stocks (see chart).

The Earth's atmosphere has been blasted by the second strongest ultrahigh-energy cosmic ray (UHECR) to ever be observed. While its exact origins remain unknown, astrophysicists are pointing the finger at the Local Void, a fundamentally empty area of the cosmos next to the Milky Way.

The floods, droughts, heatwaves, and fires that are devastating many parts of the world underscore two fundamental facts. First, damage to freshwater supplies is increasingly straining human societies, especially the poor, with far-reaching implications for economic, social, and political stability. Second, the combined impact of today’s extreme conditions are unprecedented in human history, and are overwhelming policymakers’ ability to respond.