Can the good cheer last for investors?

The feel-good factor felt by stock-market investors in 2013 has left markets open to disappointment.

The year 2013 made the average investor "feel like a genius", says Jeff Sommer on Reuters.com. You could just put your money in a stock index fund and watch it soar. America's S&P 500 index gained 30%, its best year since 1997. Japanese, European and British stocks rose by a respective 57%, 15% and 14%.

The latest surge came when US Federal Reserve chairman Ben Bernanke announced that the US central bank would taper its quantitative-easing programme. It is trimming the monthly value of assets bought with printed money from $85bn to $75bn.

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