Critic needed on the following strategy

tl;dr Divest from US equities and reallocate capital into low-cost, diversified index funds in non-US markets. Currently 70% in US markets and 20% in International, 10% Bonds. Flip that to 60% International, 20% US, 10% Bonds.

Also, this is not investment advice, please be careful!

Rationale:

US stocks currently represent about 50% of global equity market capitalization. However, when you factor in corporate debt, the full picture changes significantly. A company’s enterprise value is calculated by adding its market capitalization to its debt. For example, a company with a $200 million market cap and $70 million in debt has an enterprise value of $270 million. This adjustment implies that American companies effectively account for roughly 70% of global equity value, leaving about 30% for the rest of the world.

Given the current economic climate in the United States, major indexes like the S&P 500 and NASDAQ may not offer sufficient diversification. US stocks are trading at elevated valuations and are likely to experience stagnant returns over the next five to ten years. In contrast, international markets—particularly European stocks—are currently more attractively priced, presenting a compelling investment opportunity.