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Take money out of the US now — time is ticking on bull market, says Russell Investments’ top forecaster – CNBC

July 25
14:20 2017

A major Wall Street firm is urging investors to take money out of the U.S. stock market and move it abroad.

Stephen Wood, the chief market strategist at Russell Investments, believes the bull run is on borrowed time. He says investors should pull some house chips off the table.

“Valuations are being decreasingly supported by the fundamentals in the U.S. market,” said Wood on Monday’s “Trading Nation.” “We would say after eight-plus years of a strong rally, trim some of those profits and rebalance.”

Wood has a 2,300 rolling 12-month target on the S&P 500 — a 7-percent drop from current levels. If he’s right, the impact could be more dramatic than you think.

“Home-country bias, for example, is a problem I’ve seen in just about every portfolio,” said Wood, who is advocating a more global, multi-asset approach to investing.

His firm has a significant footprint in the markets, managing $266 billion in assets worldwide.

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