While a weak dollar may have squashed some overseas travel plans this summer, investors can still enjoy a European vacation by sticking with foreign stocks.
It should come as no surprise to market watchers that foreign stocks, boosted by a sinking greenback, have been shredding their American counterparts. The average foreign large-cap growth fund has returned almost 20% annually over the past five years, according to fund tracker Morningstar, compared with a yearly return of 14% for the S&P 500.
What may astonish investors, however, is the notion that international stocks are still relatively cheap, despite the huge run-up in share prices.
"Even after all this time, European stocks remain significantly undervalued," says Wendell Perkins, portfolio manager for the $115 million
JohnsonFamily International Value