Very interesting point of view. The difference is, of course, that the salary is not available in total, but is paid in regularly, similar to a savings plan. The size of the portfolio is absolute and therefore the US share is automatically higher. Furthermore, although many US companies have their sales abroad, they are still dependent on American politics (and of course also on foreign governments).
•
33
•
7Mon
@DividendenWaschbaer I find it difficult to include the salary. I would understand it - perhaps differently from you - as an illiquid capital stock (lifetime, residual employment income) that is successively liquidated. Provided one's own investments are liquid, one could understand the savings plan as a successive transfer of the illiquid life stock into the liquid capital stock. If one now invests this capital stock primarily in the U.S., this would be a transfer of country exposure from D to the U.S.. Whether I want to make my future dependent on a country on the brink of civil war is another question.
•
33
•