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How to Build a Europe-Free Portfolio

Mounting concerns about Europe’s debt problems, including new doubts about the health of France’s largest banks, have many investors rethinking their exposure to the troubled continent.

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Over the years, American investors have increased their allocations to foreign stocks. Investors currently have roughly $1.3 trillion in international equity mutual funds, about 3.5 times the amount from a decade ago, according to Morningstar. And euro zone countries typically account for the largest percentage of those holdings, followed by Japan.

According to conventional wisdom, such international diversification is important. With the United States’ share of the global markets continuing to shrink, investing pros say many of the best growth opportunities are abroad. In 2010, foreign markets represented about 60% of all investing opportunities, says Paul Mangus, managing director of equity research and strategy at Wells Fargo Private Bank. That’s up from about 30% in 1970. Plus, trading some of your greenbacks for assets denominated in other currencies can also help you protect against any further slide in the dollar. “Investors need to think globally,” says Mangus.

But Europe’s not the best place to find that diversification these days.  Fortunately, there are ways to get some of those benefits of international investing without exposing your entire nest egg to the whims of the German government. Here are three strategies:

Go Far Afield: While there may be some opportunities for contrarian investors in Europe today, investing pros recommend spreading your foreign exposure beyond developed markets into emerging economies like India and China, which have lighter debt loads and faster-growing economies, says Jonathan Xiong, managing director in the global asset allocation group of Bank of New York Mellon. Investors may want to consider stocks from South Africa, where metals and raw materials industries are expanding, or from Australia, where the mining business is booming, he adds. But investors should beware: These countries won’t be totally immune from the worsening crisis in Europe.

Look to the East: One of the perks of investing globally is to get exposure to currencies that are gaining when the dollar falls. But the euro, which has been falling against the dollar as the European debt crisis has escalated, isn’t a safe diversifier right now, advisers say. Instead, investors should turn to a safe-haven currency like the Japanese yen, which tends to gain when equity markets in the U.S. and Europe are volatile, says Xiong.  Investors also rush to the Swiss franc when global markets are choppy, but the Swiss National Bank has recently said it would fight back against these gains by buying euros whenever the franc surges beyond a certain point. If the intervention is effective, any gains would be short-lived.

Buy Safer Sovereign Debt: A financial crisis sparked by a default in Greek bonds would likely spread beyond the European equity markets to the U.S. and other countries, but the ripple effect through the global bond market might be more limited, says Xiong. Investors should shift some of their bond exposure to sovereign debt from stable countries to minimize losses. Canada, Sweden, Switzerland, Australian and United Kingdom are all rated triple-A by Standard & Poor’s and have been paying higher yields than the U.S. Even some emerging-market countries like China are better bets right now. “Is China going to default on its sovereign bonds? No,” says Xiong. Those who believe the European crisis will spark a recession in the U.S. may also want to add some Treasurys, which could see gains as more investors’ seek safety.

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      XnView • View topic – New File Icons designed by me
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      New File Icons designed by me
      XnView Multi Platform – XnView for multiple operating systems including Linux, MacOSX, Windows.
      Moderators: Olivier_G, Dreamer, XnTriq, helmut, xnview
      Post a reply
      16 posts
      • Page 1 of 2 • 1, 2
      New File Icons designed by me
      by budz45 » Tue Jan 04, 2011 4:58 pm
      Hi,In continuing from a previous topic elsewhere on this forum, I originally believed XnView should have some new file icons and was delighted to then hear that a new logo was being designed. had to wait till new logo was ready until I could finish the file icons. I used Adobe’s Illustrator and Photoshop to do these… I’m hoping the icons (on Windows) can be included in a separate .dll file (like in KMPlayer) as to not to effect the xnview.exe filesizePierre thought it would be best if I ask on the forum first…В©Copyright – budz45(click image to enlarge)
      5239525_dddd.png (148.05 KiB) Viewed 4904 times
      budz45 wrote:…one could keep to the same Windows’ ‘file-type badge’ design that your existing Xnview win icons have but I’m sorry but the ‘badge’ design is not compatible with Apple’s design expectations (Apple’s HIG)…developer.apple.com/library/mac/ … Icons.html(click images to enlarge)More and more Windows file icons designs are moving away from this ‘badge’ method especially cross-platform software icons like Lot’s of other software have used the tweak logo-color method to suit multiple file-types icons;KM Player- recipester.org/images/6/6e/H … s_-_07.jpgItunes/Quiktime (in the past)- i55.tinypic.com/sp81ms.jpgMy design keeps it minimal and the same across Mac and Windows and also complies with Apple’s design expectations (no using of Windows style ‘badging’ on icons).
      All My Topics || my ‘MP’ TopicsMy own Bookmarked topics—>for me only
      budz45
      Posts: 1329Joined: Sun Jun 03, 2007 6:05 pmLocation: UK
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      Re: New File Icons designed by me
      by JohnFredC » Tue Jan 11, 2011 2:34 pm
      Hi budz45Those file icons look fine to me, completely in the spirit of thibaud’s original design.
      John
      JohnFredC
      Posts: 1857Joined: Wed Mar 17, 2004 8:33 pmLocation: Sarasota Florida
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      Re: New File Icons designed by me
      by oops66 » Tue Jan 11, 2011 5:33 pm
      Hi,Right, I have the same feeling "…in the spirit of thibaud’s design", plus your own "colored and funny touch", so I like too
      MP 0.51 Linux X64
      oops66
      Posts: 1405Joined: Tue Jul 17, 2007 1:17 amLocation: France
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      Re: New File Icons designed by me
      by Dreamer » Tue Jan 11, 2011 6:57 pm
      You know my opinion, I don’t like these icons, they look like a chicken. I’m not against a new design, but it should be similar to old icon OR/AND look like an eye.Program icon is too important so I could ignore it. Such a good program as XnView (MP) deserves better icons.I really wonder anyone else can’t see it – try to show these icons to someone who don’t know XnView and the old icon, he must see it – it looks as a chicken!!I can’t create a new icon, but perhaps the orange and blue colors should be used and it should look as an eye a bit, but definitely not like a chicken.I am sorry, but this is my opinion.
      Dreamer
      Dreamer
      Moderator
      Posts: 4485Joined: Sun Jul 25, 2004 9:08 pmLocation: Slovakia
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      Re: New File Icons designed by me
      by budz45 » Thu Jan 13, 2011 7:05 am
      Another preview of some from the ‘Windows’ version;
      All My Topics || my ‘MP’ TopicsMy own Bookmarked topics—>for me only
      budz45
      Posts: 1329Joined: Sun Jun 03, 2007 6:05 pmLocation: UK
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      Re: New File Icons designed by me
      by Vapavite » Thu Jan 13, 2011 9:56 pm
      Hello,Bonjour,Dreamer, je cite :Vous connaissez mon opinion, je n’aime pas ces icГґnes, ils ressemblent Г  un poulet.I think so too. Especially in large sizes! However, the pupil of the eye is great and the basic color (orange color) is very good. It should, however, the dark to the smaller size to facilitate its sharpness YoursJe le pense aussi. Surtout dans les grands formats ! Cependant, la pupille de l’oeil est gГ©nial et la teinte de base (ton orange) est trГЁs bien. Il faudrait cependant la foncГ© pour les dimensions plus petites pour favoriser sa nettetГ© !Nothing great, it’s fair to compare!Rien de gГ©nial, c’est juste pour comparer !
      IconePoint.jpg (12.24 KiB) Viewed 4208 times
      Bien Г  vous
      Vapavite @+
      Vapavite
      Posts: 210Joined: Tue Jun 26, 2007 1:57 pm
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      Re: New File Icons designed by me
      by budz45 » Sat Jan 22, 2011 12:07 pm
      SPlayer’s (splayer.org/index.en.html) icons would look nice on Windows if the style was recreated for XnView icons… But they wouldn’t be Mac suitable in suiting Mac’s design guidelines
      All My Topics || my ‘MP’ TopicsMy own Bookmarked topics—>for me only
      budz45
      Posts: 1329Joined: Sun Jun 03, 2007 6:05 pmLocation: UK
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      Re: New File Icons designed by me
      by budz45 » Mon Feb 14, 2011 5:41 pm
      Ok on the Mac icons the 48×48 and 32×32 sizes need fine tuning.. Will look to improve that if necessary.
      All My Topics || my ‘MP’ TopicsMy own Bookmarked topics—>for me only
      budz45
      Posts: 1329Joined: Sun Jun 03, 2007 6:05 pmLocation: UK
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      Re: New File Icons designed by me
      by Dipish » Tue Feb 15, 2011 8:52 am
      How about Gnome/KDE-style icons?
      Dipish
      Posts: 15Joined: Mon Dec 13, 2010 10:01 am
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      Re: New File Icons designed by me
      by budz45 » Tue Feb 15, 2011 4:55 pm
      Dipish wrote:How about Gnome/KDE-style icons? I don’t think that would be suitable for cross-platform File icons and since XnView MP runs on Mac with Mac being the de-facto OS when it comes to visual and GUI design then I thought to better orintate the design around the Mac standard. Which I think is fine.for Linux, either the Mac or Windows style I created can be easily just use the .png source as that’s what Linux OS builds use as the basic icon format.
      All My Topics || my ‘MP’ TopicsMy own Bookmarked topics—>for me only
      budz45
      Posts: 1329Joined: Sun Jun 03, 2007 6:05 pmLocation: UK
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      Re: New File Icons designed by me
      by lian » Wed Feb 16, 2011 8:53 am
      These are great icons ! Thanks for sharing.
      SF, illustrations et mes BD sur mon blog: li-an.fr/blogWindows Seven Premium family 32 bits
      lian
      Posts: 138Joined: Wed Nov 24, 2004 8:53 pm
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      Re: New File Icons designed by me
      by Vapavite » Sat Feb 19, 2011 5:37 am
      Hello,The orange / orange tint darker for small sizes. Readability! (Better with blue, green)Yours
      Last edited by Vapavite on Sat Mar 12, 2011 12:30 pm, edited 2 times in total.
      Vapavite @+
      Vapavite
      Posts: 210Joined: Tue Jun 26, 2007 1:57 pm
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      Re: New File Icons designed by me
      by harumscarum » Thu Mar 10, 2011 12:55 pm
      great! but how to install it? i have blank icons since XnViewMp installed (
      harumscarum
      Posts: 46Joined: Tue Nov 30, 2010 6:04 pm
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      Re: New File Icons designed by me
      by budz45 » Wed Jul 20, 2011 6:25 pm
      So does anyone support my Mac/Win icons to go into a future MP beta?
      All My Topics || my ‘MP’ TopicsMy own Bookmarked topics—>for me only
      budz45
      Posts: 1329Joined: Sun Jun 03, 2007 6:05 pmLocation: UK
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      Re: New File Icons designed by me
      by MarkTJ » Thu Sep 15, 2011 7:08 am
      harumscarum wrote:great! but how to install it? i have blank icons since XnViewMp installed (i have something similar. I have noticed that some shortcut icons that I place in the Taskbar disappear from time-to-time..
      MarkTJ
      Posts: 2Joined: Thu Sep 15, 2011 7:06 am
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