Buy Europe! But hedge a little

  @FortuneMagazine January 16, 2014: 7:13 AM ET
WEA03 european stocks
(Fortune)

After enduring a brutal sovereign debt crisis and the longest recession in the postwar era, Europe finally looks like an attractive destination for stock investors again. Recent returns have lagged: The benchmark Stoxx Europe 600 index has risen by just 16% over the past 12 months, well below the returns in red-hot U.S. market indexes over the same period. But many market pros are now predicting that those tables will be turned in 2014, providing U.S. investors with an opportunity to profit from the eurozone's ongoing resurgence. The trick is to make sure that any potential gains aren't wiped out by currency swings.

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