When investors go looking for a reason not to follow the market crowd, they've always been able to rely on Vanguard Group founder Jack Bogle. The benefits of international investing is one of those contrarian-Bogle areas. Even though Bogle first made his U.S.-centric stock market views known more than two decades ago, there are no shortage of articles reiterating his belief in any given year. The press keeps asking Bogle about it, cribbing notes from his latest responses on the subject.
It's a good time to take a look at Bogle versus the go-international crowd. International investing has had a great year, and more investors have embraced the concept through exchange-traded funds: Five of the top 10 ETF inflows this year are developed markets (ex-U.S.) and emerging markets portfolios, taking in roughly $62 billion from fund investors.
Bogle took some questions from financial advisors and investors at the summer Morningstar Investment Conference, a private session to which Morningstar provided CNBC with an exclusive link for review purposes. During the session Bogle again provided an answer to the international investing question, when asked specifically whether the run-up in U.S. stocks led him to at all change his view. Bogle's response neatly summed up his view, but also showed that he is far from dogmatic, even open to the opposing, go-international camp.
Here are three things Bogle said about taking stock portfolios overseas and why they shouldn't represent a hard "no" for investors.