Investment opportunities exist all around the globe, but the randomness of global stock returns makes it exceedingly difficult to figure out which markets are likely to be outperformers. How should investors deal with this kind of uncertainty?

S&P 500: 1825 - 2020

"Data gathered from 802 U.S. colleges and universities for the 2018 NACUBO-TIAA Study of Endowments® (NTSE) show that participating institutions’ endowments returned an average of 8.2 percent (net of fees) for the 2018 fiscal year (July 1, 2017 – June 30, 2018) compared with 12.2 percent for FY17."

36% of MSCI World Index is
comprised of tech stocks

44% of MSCI World Index is comprised of Japanese stocks