Yeah, Buffett historically hasn't seen much sense in trying to "strut-his-stuff" in the international markets when he can find plenty of understandable value here. Well, times, they are a chang'n and Buffett is often seeking international assets: PetroChina, IMC, huge(at one time) foreign currency position, more foreign government bonds than US Treasuries, large utility in the UK, buying the securities of US companies in foreign currencies among numerous other smaller foreign commitments.When I bought my Toyota Tundra in 2002, Toyota Motors stock was around $45/share. About 5 years later, it's $120. There were two reasons I didn't buy at $45. 1) It's an automaker 2) It's a foreign company.Both categories are not known to be Buffett style. Therefore I missed something that I actually understood quite well: Toyota products are best-in-class and will continue to gain market share.While not seeking foreign companies for my portfolio, I will actively seek domestic multi-nationals with strong brands and extensive foreign exposure. Future "eye-popping" economic growth will largely occur beyond our borders.brentvoss
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