Just four weeks ago, Jason Zweig of The Wall Street Journal warned investors to lower their long-term expectations of stock returns going forward. He gave one bit of advice for improving your odds of success—diversify internationally. If you’re a client of Hill Investment Group you can put a check mark next to this guidance. Unlike most investors, you’ve had significant international exposure since becoming a client. Here’s an excerpt:

After more than six years of a bull market, investors should stare a cold, hard truth straight in the face: Future returns on stocks are likely to be far slimmer than the fat gains of the past few years.

Leading investment analysts think you will be lucky to squeeze out an average return of 2% annually, after inflation and fees, from a typical portfolio of stocks and bonds over the coming decade or so.

Investment expenses will loom much larger in a world of smaller expected returns. So will avoiding big mistakes.

The New York Times published a report on the failure of active management in an article titled, “How Many Mutual Funds Routinely Rout the Market? Zero.” We’re not at all shocked to see their results.

Nobel laureate, Daniel Kahneman, voiced his sentiment on the same topic recently at a speech in New York, saying that he didn’t want any active management in his own investment portfolio. Interestingly, his audience at this particular conference was made up of active managers.