For more than a decade after the global financial crisis, betting on US stocks required little explanation. Strong dollar cycles, tech-led earnings growth, fiscal credibility, and institutional depth justified a structural US overweight. Returns were strong, leadership was clear, and diversification often felt unnecessary. But what if this is the beginning of a new market cycle? Indeed, global stocks are outperforming the US again, and the underlying drivers look more durable than many investors expected. E ...