[ManBeardPc]

Only if you invested everything in the Nikkei on the height of the market though. Many US companies are pretty global and have a lot of sales outside the USA. In that sense the risk is a lot less concentrated outside of extreme political events.

[floundy]

Many international companies are global, and have a lot of sales to the US. But I never see anybody using that as a justification for not investing in the US.

As to the Nikkei retort this seems to be hindsight bias and ignorance of historical context, the general consensus at the time (both inside and outside of Japan) was that the Japanese economy was going to take over the world.