Global Investing: Float Your Bucks

The weak dollar is only part of what makes foreign stocks attractive today. Here's how to find bargains

I'm as willing as the next guy to debate whether it's smart to invest in foreign stocks--but not now. Time is wasting. A weakening dollar and an abundance of cheap foreign pickings have whipped up a tail wind that U.S. investors can't afford to ignore. Yes, you can argue that the diversification benefits of foreign investing aren't what they used to be now that the world's economies are so intertwined.

In the past three years, U.S. stocks have fallen an average 16% a year, and foreign stocks have fallen even harder. But there is no question that foreign markets can...

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