Even though a trade may be crowded, it doesn't mean it is wrong. And that was certainly true of the so-called FANG stocks – Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL) – in 2015, said Jordan Waxman, managing partner of HSW Advisors at HighTower. 'There was very narrow breadth this year and if you weren’t in one of those top-performing, FANG stocks, you didn’t do so well,' said Waxman, adding that active management will probably be a better bet in 2016. That trend has also been an investor’s friend when it comes to the strong dollar. And Waxman expects that to continue into 2016 as well. That said, when it comes to oil, which is priced in dollars, he does predict price appreciation in the coming year as the supply/demand equation works itself out. 'I don’t think the world believes there is going to be this equilibrium,' said Waxman. 'But if you just look at the demand and supply forecasts, they should come back into equilibrium which means a higher oil price going forward.' Stock buybacks have helped boost earnings for S&P companies in the last few years. Waxman said he expects this to continue in 2016.