The Clark Howard Podcast 03.10.26 Ask An Advisor With Wes Moss
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Mar 10, 2026 They debate whether to shift from U.S. to international stocks and warn against recency bias. They explain how U.S. multinationals already give foreign exposure. They introduce the “Rich Ratio” — a quick way to compare what you have versus what you need for retirement. They discuss paying down a mortgage versus investing and practical moves for young savers.
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International Outperformance May Be Recency Bias
- International stocks have recently outperformed the S&P 500 but that performance may be recency bias rather than a regime change.
- Wes Moss notes international ETF +36% vs S&P ~+16% last year and reminds investors leadership often reverts to the mean.
Dollar Reserve Status Is Extremely Durable
- The U.S. dollar remains dominant in global transactions at roughly 60%, making an immediate end to dollar reserve status unlikely.
- Wes notes currency shares haven't shifted much in 15 years and central banks are reducing additions, not dumping dollars.
U.S. Stocks Offer Built‑In Global Exposure
- U.S. stocks already give international exposure because many S&P 500 companies earn significant revenue overseas.
- Wes lists McDonald's ~60%, Apple >50%, Intel ~70%, Nike >50% as examples of multinational exposure.