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On Friday, Mad Money host Jim Cramer told watchers of his show that it was important for U.S. investors to allocate into a large, foreign international company. He even commented that "[T]he United States is in the caboose of the global economic love-train," echoing comments Peter Schiff has often made about the domestic market and the potential for future global decoupling. This article serves to provide some examples of potential first foreign investments for American investors who wish to diversify outside of the domestic equities.

Cramer also noted that Canada has one of the healthiest economies, and individuals may want to consider Canadian equities if they do not want to invest somewhere too exotic. Some Canadian high yielding oil & gas equities may be a good fit for a portfolio. Many pay monthly dividends in Canadian dollars, and their businesses are levered to the price and demand for petroleum. Additionally, Canadian railroads have a history of growing their dividends, with much of their business coming from the transportation of Canada's bountiful natural resources to the United States and Asia.

Canada also has some successful global apparel retailers. Gildan Activewear (NYSE:GIL) is a Canadian apparel maker that primarily sells t-shirts, underwear, socks and active wear to wholesale screen printers, embroiderers and retailers. The products are often used for uniforms or clothing that is further branded by its merchant customers.

Also, Lululemon Athletica (NASDAQ:LULU) is a Canadian apparel maker that makes fitness pants, shorts, tops and jackets for healthy lifestyle activities, such as yoga, running and general fitness. The company operates stores that sell its apparel and accessories for yoga, pilates and related new-age fitness practices. The brand grew considerably over the last few years, developing a loyal and high-income customer base that appreciates the brand’s quality and dedication to a healthier lifestyle. LULU has been one of the best performing mid-caps over the last 12 months, increasing over 200%, so it may be due for a cooling period.

Another option for foreign international exposure is into Japanese large-caps below book value. Japanese equities have been in a long-term bear market and many have predicted a coming change. Japan offers many large brands, such as Toyota (NYSE:TM), Sony (NYSE:SNE) and Panasonic (PC) and several other large, well-known companies that are trading below book value. Several also provide a dividend, and have already shown the ability to survive serious catastrophes.

Europe also offers some considerable options for the international investor, including some of the biggest and most respected pharmaceutical companies. AstraZeneca (NYSE:AZN) and GlaxoSmithKline (NYSE:GSK), out of the United Kingdom, and Sanofi-Aventis (NYSE:SNY), based in France, offer strong product lines that are marketable everywhere and the traditionally above-average pharmaceutical yields. These pharma companies appear reasonably prudent investments for a broad range of U.S. investors.

Whether or not decoupling occurs, foreign exposure can help a portfolio survive particularly domestic risks, such as political, tax and local disasters, as well as hedge a U.S. Investor from potential dollar depreciation.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Disclaimer: This article should not be construed as personalized investment advice as it does not take into account your specific situation or objectives.

Source: 8 Foreign Equities That Meet Cramer's Allocation Advice