Many investors at the Reuters 2014 Global Investment Outlook Summit said they are wary of the US stock surge. However, they also acknowledge that the present liquidity could lift equities higher inspite of the fears.

The S&P has climbed about 26% this year, with major indexes hitting record high. Investors cited potential drags on the market the following year. said the report.

Billionaire Carl Icahn said: "I'm very cautious on equities today," said billionaire Carl Icahn, among the world's most influential investors. This market could easily have a big drop."

The stock surge of 2013 will be hard to duplicate in 2014. The Federal Reserve anticipates a slowdown in its USD85 million bond buying program. However, while fund managers believe the market may not achieve the same gain as this year, they are optimistic of their returns, the report said.

The Fed's bond buying program has helped up its balance sheet to almost USD4 trillion. Icahn said most of these earnings come from low interest rates and not from corporate strength. Still, this continuous influx of cash could raise stocks higher, Reuters reported.