AMP Capital’s Nader Naeimi, who heads one of the firm’s dynamic investment funds, has about 30% of his holdings in cash, according to a Bloomberg article from earlier this month, and sees North Korea situation as “one of the factors that could eventually bring down the long bull run in equities.”

In addition to his cash holdings, Naeimi has “an allocation to gold and is short emerging-market currencies versus the dollar. His fund has beaten 77 percent of peers over the past year,” according to data compiled by Bloomberg.

According to the article, Naeimi said, “Markets need a correction,” adding, “There is a significant disconnect between uncertainty and market pricing of risk. North Korea and other events will provide the triggers for a correction.”