I'm not too bullish on developing markets. Bubbles usually pop when there is most optimism. Hedge funds and economists are still bullish when already the Fed's tapering, there's emerging market currency crises, China shadow banking, inflated real estate prices all over the world, rampant currency inflation in most countries, weak employment data, etc. Add to that the fact that the US experiences a recesson/depression every 5-6 years on average (
http://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States). We are on the 6th year now from the 2008 financial crisis.
