Foreigners are chasing U.S. stocks. Historically, that’s a bad sign. - MarketWatch

1. Foreign retail investors are buying U.S. stocks at record pace. 2. U.S. equities have high valuations compared to non-U.S. equities. 3. Historically, foreign buying precedes market downturns. 4. Davos attendees favor U.S. stocks over European markets. 5. Ed Yardeni reports foreigners purchased $76.5 billion in U.S. stocks.