Investors got more excited about international investing late last year. Some of that was chasing
better returns, as developed international equities solidly beat the U.S. over the last three months of
2022. Some was the increased popularity of value investing as mega-cap U.S. technology stocks
became less in favor. The surprising resilience of core European economies and a weaker U.S.
dollar added to the market’s excitement. After such strong performance in international benchmarks
recently, is there enough good news still yet to come for these markets to continue to outpace the
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