1. If a U.S. investor in the U.S. stock market experiences a negative rate of return, is it possible for a French investor with the same investment to experience a positive rate of return?
2. Why is it useful to look at the risk contribution of foreign stock markets with respect to the U.S. stock market index, rather than to the world market?
3. Should we consider the rate of return of the British stock market in terms of British pounds or in terms of U.S. dollars?