(Reuters) - Many prominent managers at the Reuters 2014 Global Investment Outlook Summit believe the record-setting run-up in U.S. stocks is due for a reckoning but acknowledge that ample liquidity could push equities higher regardless of fears.
The S&P 500 has jumped around 26 percent this year, with major indexes notching record high after record high. Investors pointed to potential drags on the market next year, be it a pullback in stimulus by the Federal Reserve to weak earnings, that have made this market look expensive from a valuation basis.
"I'm very cautious on equities today," said billionaire Carl Icahn, among the world's most influential investors.
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