Diverging monetary policy and economic recovery leave American companies with less upside than those based overseas, one widely followed market watcher said Friday.
The United States has enjoyed a stronger economic rebound than the rest of the globe, becoming "about the only place in the world that is facing full employment," contended Jim Paulsen, chief investment strategist at Wells Capital Management. With the Federal Reserve expected to tighten while other countries ease, investors may want to move their money elsewhere, he said.
"We're going to have policy officials now starting to move in the other direction, moving support away from the financial markets. I think that puts us in a unique position," he told CNBC's "Power Lunch."