Lofty valuations in global asset markets have caused a "wall of worry" for professional investors, but a lack of alternatives will mean equities will continue to climb in 2015, one strategist warned.
"Any correction will be met with a wall of buying, it's one of those moments," Peter Toogood, investment director at London-based independent fund manager City Financial Investment, told CNBC Monday.
"Take the U.S., there's nowhere to hide...the market in the U.S. is broadly insane."
He urged investors to "be nervous," but added that this nervousness and weak fundamentals weren't enough to stop the global rally in stocks and global fixed income. He predicted that the former would rally throughout the rest of the year.
"If you're about speculation, party on down," he said.