The West is only half the way through a 20-year secular downturn that will not end until the children of the US baby boomers begin to flex their financial muscle in about 10 years time, according to Robin Griffiths, a technical strategist at Cazenove Capital.
"The market in the West is in a 20-year downturn and you only hold stocks in the developed world when stocks are rallying during this 20-year down trend," he told CNBC.
"In the East you can own equities in countries like India and Brazil and without watching them too closely, will be sitting on returns of over a 100 percent over the long-term," Griffiths added.
But there are stocks from the developed world investors can own to play the growth story in the East, according to Griffiths.
"I like Standard Chartered, not because it is a bank, but because it is doing business in the correct geography, the East," he said.
The summer rally is about to come to an end as real live orders - orders made by human fund managers rather than computers - see money pouring out of stocks and into bonds, Griffiths predicted.
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