TY - JOUR T1 - One World—The Case for Global Portfolios JF - The Journal of Investing SP - 5 LP - 13 DO - 10.3905/joi.2004.391037 VL - 13 IS - 1 AU - Lawrence S. Speidell AU - Hongyu Xing Y1 - 2004/02/29 UR - https://pm-research.com/content/13/1/5.abstract N2 - We are seeing increased globalization of economic sectors and a decline in the importance of countries and regions in financial returns. Advances in communications and global development are producing more integrated financial markets, while many institutional investors are moving toward global platforms and global perspectives. A new approach to manager style diversification that is based on global sector specialists may develop, allowing firms to focus on directing analysis to methods that are particularly applicable to each sector, such as asset valuation methodologies for materials, cash flow measures for telecoms, or earnings estimate revision perspectives for IT. In a global sector world, asset allocation by U.S versus non-U.S. or growth versus value could become less important than decisions about selecting managers for their sector skills. ER -