Everyone remembers the dotcom bubble bursting, bringing the NASDAQ crashing down in October 2002. But Garnry says the index looks very different today from what it did 13 years ago. No longer dominated by small emerging companies, it's now predominantly biotechs and large technology firms. These firms have 'phenomenal' underlying earnings growth and return on investor capital, says Garnry.

But he's well aware that the strong dollar could ruin the party in the short-term. He says it will take down foreign profits for many who rely on overseas sales. He also warns that the strong dollar is forcing investors to refocus on Europe.