We must challenge common assumptions about the US and emerging markets to ensure we are focusing on the best routes to the right destination.

Emerging Markets were a focal point in 2013, repricing as US stimulus, commodity prices and China's boom subsided. In future, EM performance will depend on individual merit.

The US is the critical market of the global economy - and there are sign-posts that clearly suggest it is ready to surprise on the upside, with significant implications for portfolios.

A rise in US Treasury yields is likely to have a profound impact on benchmarks. Bonds should remain a critical component of portfolios, but a more active approach is necessary.

Think about bonds as an insurance policy for portfolios. With higher yields available, very cheap insurance is even better able to pay for hurdles facing portfolios.

To achieve the Great Escape, central banks must first complete the Great Unwind – the removal of ultra-easy monetary policies. So what is the roadmap for the Great Unwind?

Ultra-low interest rates and QE have offset the deflationary forces of debt deleveraging. The challenge policy makers face is when to withdraw the stimulus to avert inflation.

Breaking Unconventional Monetary Policy (B.U.M.P.) and it's impact on global financial stability is the key risk for the foreseeable future.

In a Great Escape world, ignoring the index and actively seeking growth investments regardless of size or weightings is more important than ever.

The ability to pick inflection points in markets as well as deploying TAA across credit will be the key ingredient going forward.

Short-term rates are likely to remain low for a prolonged period of time. Investors will still need to source yield, they'll simply have to be more creative to find it.

After a half decade of weakness, robust growth in the US and UK is setting the stage for unconventional monetary policies to be unwound.

There is no doubt that some countries are better placed than others in The Great Escape. In fact, Australia and NZ have the chance to be rock star economies of the 21st century.

If the US and China prove to be prescient and 'ahead of the curve', financial markets will flourish; if they dawdle, we'll see yet another boom and bust cycle that ends in tears.

Most of the world will see an improvement in economic growth this year. Equities are by far the most attractive asset class - but they will be much more volatile.

Today's long period of very easy money and very low yields has distorted the financial system. This will cause unintended consequences in the near future as QE ends.

The thought-provoking (and entertaining) introduction to Markets Summit 2014 - The Great Escape - What will markets be like in the QE runout?

My bottom line for 2014 is that investors should be overweight global equities, underweight bonds. My biggest call? China's stockmarket could be the best performing.

A year ago, the world was salivating at the prospect of current account deficits in the developing world. Now, it's terrified. It's a terrific investment opportunity.

What's a very good long-term return from equity markets? What's fair? Take for example, Sigma Pharmaceuticals.