Attention Economy


Monday, March 24, 2025

Investment Themes: US Exceptionalism versus International Diversification

How the Reversal of the ‘American Exceptionalism’ Trade Is Rippling Around the Globe
https://www.wsj.com/finance/investing/us-stocks-financial-market-global-impact-6ed646b9
Outsize U.S. bets delivered foreign investors years of windfall profits but leave them exposed to this year’s selloff.


The great European disentanglement from US stocks has only just started
https://www.ft.com/content/d7dd7b87-5abc-4ebf-b931-948c314a7e64


Corporate America’s Euphoria Over Trump’s ‘Golden Age’ Is Giving Way to Distress
https://www.wsj.com/economy/wall-street-trump-golden-age-distress-28a1dfcc
CEOs and investors are fretting over what they see as whipsaw policy changes and complacency about the risks of recession. 

The end of American exceptionalism goes way beyond Trump  
https://www.ft.com/content/dd751b97-7485-4457-aaae-c632062f0976


Investors who were all in on U.S. stocks are starting to look elsewhere
https://www.wsj.com/finance/stocks/investors-who-were-all-in-on-u-s-stocks-are-starting-to-look-elsewhere-ddacd1e8
American exceptionalism was this year’s big trade. Now some are hedging their bets.


The world’s markets have turned upside down but it’s still possible to make money
https://www.telegraph.co.uk/business/2025/03/20/how-to-make-money-with-worlds-markets-turned-upside-down/
Diversification will be even more important as tech stocks fall back to earth.

Europe still needs to earn the confidence of investors
https://www.ft.com/content/4594970a-443d-4810-a27b-7ae6083cacc9

Is this the start of a period of European exceptionalism in markets?
https://www.ft.com/content/012a0231-27ba-4b68-b0d4-38c6eacd7192

Western investors are looking beyond the US as the Maga playbook rattles stock markets.

Could Emerging-Markets Stocks Outperform US Stocks?


My take:
Cracks are Emerging in the Idea of America’s Economic Exceptionalism by Vivekanand Jayakumar, The Hill, March 11, 2025