I'm putting my money where my mouth and I invested in it last week after noticing the disparity in value and dividend return between this ETF and the S&P. I'm talking about the Vanguard all world except the US ETF. It's symbol is VEU and it's throwing off a fat 3.37% dividend.
This ETF invests in big companies abroad from Europe to Asia all for a tiny 0.15% expense ratio. I sunk a big chunk of my retirement assets into this last week instead of the S&P 500 because I just think it's too expensive. There are no American companies in this ETF, so it's a great way to also diversify if you only own American stocks.
Caution: you should never invest in stocks if you can't mentally stand the thought of losing at least 50% of your investment and if you need the money in 5 years or less. This is an investment for the long-run. Invest at your own risk. I was not paid in any manner by Vanguard for this.