“We see far more long-term opportunity in higher-growth overseas markets where stocks are currently ‘on sale.’ We say that not because we know anything about the future, but we know something about the past. Based on history, stocks at today’s valuations cannot be trusted to deliver decent rates of return. You want to buy low, and sell high. Not buy high and try to sell higher. That’s not how the game works (at least not over the long run).”
http://www.bonnerandpartners.com/our-visit-to-miss-brazil/
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