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Using the S&P 5 0 0 portfolio as a proxy of the international market portfolio Using the S&P 5 0 0 portfolio as a proxy
Using the S&P portfolio as a proxy of the international market portfolio
Using the S&P portfolio as a proxy of the international market portfolio
is appropriate because US securities represent more than of world equities.
is appropriate because most US investors are primarily interested in US securities
is appropriate because most US and nonUS investors are primarily interested in US securities
is inappropriate because US securities make up less than of world equities.
is inappropriate because the average US investor has less than of his or her portfolio in nonUS equities.
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