The firm said in a recent note that the elevated valuations of U.S. equities put a lid on the potential gains.
Goldman Sachs strategist Peter Oppenheimer and his team reportedly expect U.S. stocks to lag behind their peers in Asia and Europe over the next decade.
According to a Bloomberg report, Oppenheimer and his team recommended diversifying beyond the U.S. The firm said in a recent note that the elevated valuations of U.S. equities have put a lid on potential gains.
“Diversify beyond the US, with a tilt toward emerging markets. We expect higher nominal GDP growth and structural reforms to favor EM, while AI’s long-term benefits should be broad-based rather than confined to US technology,” the strategists said in the note.
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