Power Play: Is Europe a risky or wise bet?

A worker assembles a new Porsche 918 Spyder e-hybrid sports car at the Porsche factory in Stuttgart-Zuffenhausen, Germany.
Michaela Rehle | Reuters

The big debate is over the timing of an interest rate hike, but one thing is clear, rates are headed higher.

As the U.S. adopts tighter monetary policy, Europe is just starting quantitative easing. The Stoxx has been on fire since European Central Bank president Mario Draghi announced plans for a bond-buying program in January. But should you really be pouring your money into Europe right now?

"Since QE didn't work in the U.S. I can't understand why people expect it to work in the euro zone and especially when you consider that several EU members are tittering on the brink of bankruptcy," Robert Pavlik, chief market strategist at Boston Private Wealth, told CNBC's "Power Lunch" on Monday.

Read More Europe closes higher as QE buoys stocks; DAX hits record

Pavlik's advice for the average investor is to focus on what you know best and where you have experience. "Don't rush into a trade thinking it's an investment. This long dollar/short euro and long European stocks is working right now only because it's acting as a self-fulfilling prophecy and will work only until the light is shown on another failed QE attempt," Pavlik said.

But Alan Gayle, Senior Investment Strategist and Director of Asset Allocation at Ridgeworth Investments, is betting on Europe and believes it's a very good time to invest there. "I have been adding to my international exposure in recent months after being very underweight for some time, focusing mostly on the developed markets such as Europe," Gayle said.

The Stoxx higher during trading on Monday.