Subject: Re: Investing in the USA
This result does not seem 100% certain to be because of a revealed preference for US equities. Other things to consider are the rise in prices (which obviously increases the allocation to equities, measured at market value in US dollars) and any selling of US bills and bonds to fund investments elsewhere.

e.g., at flat equity prices with no trading and no change in bond prices, that 30% would have been 27-28%.

And of course from a global point of view, one's allocation to US equities is down 6% even at flat USD prices because of the YTD fall in the US dollar.

Jim