I think there is a systemic risk related to a potential American stocks that is not priced in.
I think its possible non US governments and people boycott America. e.g. no more Tesla, the World Cup, social media (https://cybernews.com/tech/europe-social-media-w/), etc.
It's super difficult for me because there seems to be nice opportunities (e.g. Netflix, Adobe, Paypal,etc.) but I must stay discplined to my convictions.
DD