He believes that the Dubai frenzy will prove to be a "one-day wonder," and suggested that no one should pass judgement on the markets until certain key economic reports are issued next week.
"My advice is, just sit tight and don't get crazy this weekend."
He said investors "might want to get defensive" just to be safe, but declared optimistically, "We still think markets are going to rally until the end of the year."
Kreps echoed Valdes' message of calm:
"We tend to view trades in terms of more than just a day or two. We have a global theme that's very much still intact," Kreps declared.
"The global economy is still continuing to grow outside the U.S." — and there are U.S.-based multinational stocks that harness such growth, Kreps said.
Kimberley-Clark — the personal/household products maker is also a "play on sonsumers in the developing world," Kreps said.
CNBC Data Pages:
Disclosure information was not available for Valdes, Kreps or their respective companies.