Home country bias is where an investor favours stocks from their own country. This might be because they're more familiar with the companies of their own country, think they'll outperform other countries, or for financial reasons such as currency risk mitigation or tax efficiency. It has lessened down the years, but plenty of funds and portfolios still have a home country bias. I personally don't have a home country bias in [[my portfolio]]. And I'm surprised by the number of UK pension funds I see that are 25%+ domestic stocks, when as a country the UK makes up around 3.6% of the global stock market. ## Links - 📺 [Ben Felix: Home Country Bias](https://www.youtube.com/watch?v=qYedjI03Q0g) - 📺 [Ben Felix: Is Home Country Bias a Mistake?](https://www.youtube.com/watch?v=jN8mIHve1Ds) ## The Short Answer Because this book’s only source of revenue is readers like you. If you don’t pay, the book dies. ## The Long Answer This book is partly an ongoing experiment in taking the web seriously as a book-publishing medium. I have a role to play in making the experiment work. And so do you. For my part, I wanted to deliver a level of writing and design quality that you’d find in a printed book. Not that print will always be the gold standard. But today it is. Because so far, web-based books—nice ones, anyhow—have been slow to emerge. Yet these books can’t emerge until writers put in the effort to make them. So I did. I wrote the text. I designed the fonts. I made the illustrations. I created a book-publishing system called Pollen. I paid for the web servers. It was, in short, expensive. But I don’t want you to pay for this book because it was a lot of work. So what? All books are. Rather, I want you to judge it on the criteria you’d apply to any other book. *** *Created: [[2024-08-05]]*