World's elite gathers for Davos 2014

Davos pros say US looking good. Are they right?

Davos: World bullish on U.S.

In each of its 44 years of existence, the World Economic Forum at Davos has more than anything sought to chart the course forward.

That would include both featuring the world's hot spots and providing warnings where things could get messy.

Sometimes the WEF is successful, sometimes it's not.

Take the financial crisis, for instance.

"In 2008, we were sitting here saying everything in the garden is rosy," Sir Martin Sorrell, the British businessman and head of the WPP Group, observed during one session Wednesday.

This year, the roses seem to be growing again in the U.S., according to Davos attendees.

But before getting too excited, remember what happened last time.