Cautious optimism is a term investors are likely to hear a lot in the next few weeks, as stock market specialists roll out their forecasts for 2017.

Nigel Green, founder and CEO of deVere Group, is no different - he sees positive strides for the stock market going forward, but advises that investors take heed.

"It's likely that 2017 will bring good news for investors - but they mustn't be complacent," Green says. "They must remain alert. We're now in a very different landscape to where we have been for the last six or seven years, and this shift could impact investor returns."

The biggest threat to investors are the changing expectations for growth, inflation and interest rates in the U.S, which remains the world's largest economy, Green adds. "Even before he takes office, the data suggests that the U.S. economy has been given an initial boost from the forthcoming Trump presidency," he says. "Considering the likelihood of a stimulus package when he takes office, and given the already near full employment rate, inflation could go higher than the Federal Reserve's goal of 2%."

"Should this happen, the Fed could perceive the inflationary pressures as leading to an overheating of the economy and raise interest rates quicker than markets anticipate to cool it down," Green states. "Another risk is that the decline of oil prices from the highs of a few years ago will continue to have a significant impact on the finances of oil exporters."

Other stock market observers say inflation, Trump and oil prices aren't the only big risks challenging investors in 2017.

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