"This is one of the planks the European money managers were looking to when they bought into U.S. equities."

"Typically, they're loaded up on large U.S. equities, and most think the market can go nowhere but up."

Next year "will be a good year but not necessarily a great year for U.S. equities," she said.

"U.S. equities now are the most overvalued in the world," he said, adding, "Everything else is expensive too."

It manages client's portfolios, investing mostly in U.S. equity and bond market.

In 2006 the company received an "injection of U.S. private equity" from an undisclosed source.

"That goes a long way toward explaining why U.S. equities have had such exemplary performance."

"If you're in U.S. equities, continue to enjoy the rally," he wrote recently.

High liquidity and foreign interest in U.S. equities is helping to keep the stock market buoyant.

Knight's largest business is market making in U.S. equities.