[video] Quick Take: Wells Fargo: Markets Will Have a Happy 2014
NEW YORK (TheStreet) -- After a historic bull run in 2013, many investors are already looking at 2014's prospects. TheStreet's Ruben Ramirez talked to Scott Wren, senior equity strategist at Wells Fargo Advisors, who is optimistic heading into next year.
Wren says equities should finish higher by the end of 2014. Stocks seem likely to appreciate by roughly 5% to 7% in the ensuing year. But that doesn't mean the ride will be as smooth as 2013.
Wren said he expects some elevated volatility in the next several months or possibly first several quarters.
For all of 2013, the market has only had shallow pullbacks, the types of pullbacks that didn't allow for investors to buy the dip. Because of this, many investors have too much cash and too little exposure to equities, he added.
For that reason, Wren said he is excitedly awaiting for an increase in volatility and a deep pullback so his clients can put some cash to work.-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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