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QE-fueled rally in Europe is dangerous: Fund CEO
Martin Gilbert, co-founder and CEO of Aberdeen Asset Management, said Monday the Federal Reserve 's quantitative easing bond purchases succeeded in reviving the U.S. economy.
But a similar QE program recently launched by the European Central Bank is unlikely to yield similar results, he said in a CNBC " Squawk Box " interview. "It's not as flexible an economy as the U.S. It doesn't have that ability to cut labor."
Aberdeen has $500 billion in assets under management.
Gilbert said the rally in European stocks is being fueled by ECB easy money. He considers this type of liquidity-driven run as dangerous. "I would be wary of how much further they can go and ... everyone is concerned about Greece."
While a Greek government official told CNBC the country will make a major debt payment Tuesday, there are doubts Greece will be able to honor future obligations.
Read More Greece hopes for helping hand as IMF bill looms
It's difficult to find value in Europe, said Gilbert, who advised investors to look to Asia and emerging market stocks and bonds.
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