Still, the clear implication here is that this is an area in which financial education can play an important role and effect a meaningful improvement in outcomes for investors at theoretically very low cost.
International diversification is easy, cheap and works. Investors should do it and advisors should push it.
(At the time of publication James Saft did not own any direct investments in any securities mentioned in this article. He may be an owner indirectly as an investor in a fund. You can email him at [email protected] and find more columns at http://blogs.reuters.com/james-saft)