They have done a great job. They are raising a lot of money. It is still a limited partnership. When KKR converted to a company, you saw the stock price jump up on conversion because people then buy it because it is part of the index. (Analysts’ target: $41.08).

This is a turn-around play. They ran into a few problems including the threat from AMZN-Q. Their brands are iconic. They are divesting some of their brands and re-allocating capital. They are in 200 countries. (Analysts’ target: $27.09).

Technology this year has outperformed everything. He thinks that Technology is facing headwinds going forward in the way of more regulation as they are seen as monopolistic giants abusing their power. He thinks this ETF is going to do OK but there is more value in other sectors. The GICS classification is changing a little and telecommunications is moving to the communications sector, so this ETF will be affected. High liquid, low cost highly efficient way to get exposure to the sector.

He would look rather at emerging market bonds for income. The credit quality is higher as the US economy is late stage with higher probability of defaults.

He is bullish on emerging markets now. He thinks there are better ways to play it than a broad-based instrument. This is low cost, pure beta. He prefers concentration in Asia.

(A Top Pick Feb 26/18 - Down 9%) Still believe in it. He is seeing inflation perk up, some structural reform and the ROE is the higher than in many areas of the world.

(A Top Pick Feb 26/18 - Down 8%.) The thesis behind this is that the recovery outside of the US is very much underappreciated. The economic data that is coming out of Europe is surprising on the upside.