The US market is not quite as strong as the indices would suggest because CNBC said the other day, 90 percent of the S&P gain since December 2014 came from Facebook, Google, Amazon, Netflix. There has been a lot of selling in the emerging economies stocks since 2011. This year most emerging economies have outperformed the US.
I think that in 2017 my recommendation would be to overweight emerging economies, and I would also overweight Europe, partly because I think that the sentiment about the U.S. dollar is far too optimistic. I think the dollar is terribly overbought and overvalued, so I wouldn't get into the U.S. dollar at this time.
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