I would buy European stocks

The US markets is completely out of range with other markets in the world, such as European markets, Emerging markets. So I think there will be a closing of this diverging performance with Europe outperforming the US or both going down or with the US going down more.

Investors should understand that markets can also go down and it would not surprise me to see the inflated asset markets especially the financial markets being down 20 to 40 percent at some point. The typical stock in America is already down 9 percent from a 52 week time and in the last three days wouldn’t you think that this is maybe a little bit funny? Every day there were more new lows on the New York Stock Exchange than new highs and this 1.6 percent below the all-time high in the market, that should tell you something.