As some readers of this blog know, ISI is a highly respected research and strategy group with many of its analyst top rated by independent outside sources. Tom's strategy team team has been rated #1 by Institutional Investor magazine for 7 straight years.
Tom notes investors should expect somewhat lower returns in their equity investments in the coming years. A part of this is a direct result of the government's action in this post bubble period. Tighter credit standards are being forced on financial institutions and consumers are attempting to reduce the leverage on their own balance sheets at the same time. He notes in the video that yield will become an even more important part of an investor's returns in the coming years versus just capital appreciation.
Lastly, Tom makes some interesting comments about the potential long term opportunities that exist in the emerging markets. He cautions there may still be some downside risk in those markets; however, long term value is present.