Russ Koesterich, the chief investment strategist at BlackRock, empathizes with investors who are skittish about the stock market. But, he said, they really have no choice but to buy equities.
"If someone asked me, how would I describe my position going into 2014, I'd say that I'm a nervous long," he told "Futures Now" on Thursday.
People have good reason to be on edge, Koesterich added.
"I think that people should be a little bit more nervous," Koesterich said. "It's good to have that fear, because the reality is that we've had big gains, and those gains were mostly predicated on multiple expansion."