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By Christine Benz | 10-18-2012 04:00 PM  Does Your Portfolio
Have a Home-Country Bias?   Christine Benz: Hi, I am Christine
Benz for Most investors throughout the world are biased toward
their home markets. I recently sat down with Chris Philips who
is a senior analyst in Vanguard's Investment Strategy Group to
discuss some recent research on home-market bias.  Chris, thank
you for being here.  Chris Philips: My pleasure.  Benz: You and
the team here recently conducted some great research into home-
market bias, the extent to which someone in, say, the U.S. has
perhaps a disproportionate share of his or her portfolio in U.S.
stocks. And you examined this issue, but let's start with home-
country bias and what you found when you examined four markets.
You looked at the extent to which investors in these four global
markets were perhaps disproportionately exposed to their home
country. You lo