What's the best way to acquire foreign stocks? That depends on your trading abilities. Beginners own the iShares Australia fund, a collection of 73 miners, retailers, banks and other firms. The exchange-traded fund costs 0.5% a year in expenses. Intermediate-level players buy American Depositary Receipts or U.S.-listed shares of foreign companies. Either way you avoid the cost of changing into and out of foreign currencies, and some of these investments are very liquid. A round-trip in Rio Tinto on the Big Board costs as little as $26 in bid/ask spreads and commissions.
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