Meanwhile, Rob McCreery, founding partner and head of sales at Libra Investment Services, told CNBC Tuesday that equity investors were reluctant to miss out on the party despite the "game of risk" that stock markets posed as they continued higher.
"There was a time when you had to be buying the market, if you were a value investor you had no choice, you had no reason to be stepping outside. But now of course that's not the case, now it's a question of how long do I stay there? It's become a game of risk to a certain extent," he told CNBC Tuesday.
"At the moment, as far as we see things, while things aren't cheap, we're looking at the number of stocks in the EuroStoxx 600 index that traded at a discount to fair-value and they're diminishing by the day. You can't go out and find a bunch of things that look really cheap but by the same token you're not finding a lot of things that look very expensive either and if you're in the game of investing in equities, you've got to put your money somewhere at the moment," he said.
"If you're sitting outside and you thought this (rally) was never going to happen, if back in June and July you thought, 'This is never going to happen, I can't be invested in this,' well now what do you do? Now you're sitting there feeling forced to invest," he added.
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