Much of the U.S. stock market’s meteoric rise over the past six years has been predicated on an acronym that Wall Street refers to as TINA—There Is No Alternative.
The subtext is that with the U.S. moving faster than much of its counterparts around the globe, and with its central bank in extreme, unprecedented easing mode, there simply was no place else to grow money except on American shores. No more.
2015 has seen the light start to dim on the U.S. bull market and shine more brightly in some unlikely corners of the world, like Russia, Israel and Japan. European stocks have staked their claim as new world leaders, and China and Japan equities have ripped higher as well.
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