After the Fed’s surprise decision on Wednesday not to taper its $85 billion a month in stimulus, global markets took off on Wednesday and Thursday, ending the week at five-year highs. Yet, continued gains based almost solely on the actions of the Federal Reserve have some analysts preaching caution. According to Uwe Zoellner, head of European equities for Franklin Templeton, “This should not be and must not be [the] base for stock price moment… The market at some point later in the year might get ahead of itself…” So where does that leave independent investors — waiting for the October Fed meeting, it appears.
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Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers:
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