Market To Outperform in Next Five Years?

I would envisage that in the next five years, the U.S. equity market could actually outperform the EM [emerging markets] equity market quite significantly. U.S. profits can grow in a period of not fantastic, but OK, GDP growth. Margins will go to levels we haven't seen in 50 to 60 years.
---Bijal Shah of ISI Group ($) (in Barrons)