, the index is on pace for another positive year and commands a historically rich earnings multiple — even though its profits have fallen.. While Fine isn't a trader, he said in a recent interview with Insider that investors should diversify away from large US growth stocks — especially if this is, in fact, an extended bear-market rally.
The fund manager continued:"When the TMT bubble burst from March of 2000 over 30 months, the Nasdaq ended up being down about 80% but had several rallies in it, 30% or stronger. So this happens all the time — that's just the fact of the matter. So on that level, it's not surprising at all."In the past decade, shares of large-cap companies haveLarge stocks have risen relative to their smaller peers in the last 10 years.
"We're seeing far more opportunities outside of the United States that we believe to be materially undervalued than we are seeing in the United States," Fine said.
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