Sell US and buy Japan/ Europe

Recently, some contrarian analysts have written about the possibility that US equities bull run may be coming to an end. At the other end of the spectrum, recently battered stocks in Japan and Europe could find favour amongst investors. This is due to:

• US stocks expensive on valuations basis. Its Shiller PE is 24 times versus 16.4 historical.
• Tapering could dim shine of US equities. Normally, equities didn't perform for weeks or months after that.  
• Japanese stocks have earnings growth
• Valuations are cheaper than US
• Accomodative monetary policies driving Japanese equity prices
• European stocks (particularly Germany, Italy, France) trading at discount to US competitors

Some of the names bandied about are: BMW, Daimler AG, Volkswagen, Total SA Toyota, Suzuki, Fuji Heavy Industries, East Japan Railway the likes... Time to check these out