Japanese and European stocks are substantially less expensive than U.S. shares and will benefit from weakening currencies, said Jeremy Schwartz, Director of Research at WisdomTree. Schwartz added that dividend growth has been robust in the U.S. in the past 3 years, yet he expects normal, high single digit returns from ‘fairly valued’ U.S. stocks. He said European companies, especially exporters, are benefiting from the declining Euro, and he expects further action from the ECB to spur growth. Finally, Schwartz said Japanese stocks will benefit from pension fund buying as well as the declining yen.
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