Asked where investors should be putting their money, Lydon said many should look overseas.
“Unfortunately the average American has a home country bias,” he said. “It feels real good here in the U.S., but overseas, developed markets have done much better last year than the U.S. did. When you look to emerging markets, not only has the performance been there, but from a valuation standpoint, the fees are half of what they are in the U.S.”
Lydon added that when people think about emerging markets being risky, “it’s not like it was 10 years ago.”
“They’ve done a great job from a technology standpoint, from an accounting standpoint, and if they want more investment dollars, they are stepping up and having to play the game,” he said. “With that, they are attracting more money.”
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