We are only three weeks into 2015 and already the stock market has taken on a very different tone from a month ago. Fears of deflation in Europe combined with steadily declining oil prices have changed the mood from cautious optimism to guarded pessimism. This is completely in line with our expectation for a two-tier stock market going forward, which will consist of an equal number of winners and losers.

One former winner currently in the news is Sony Corp., which Leo Boeckl evaluates in this month’s In Focus article. In his view Sony could now be the poster child for innogration failure, as not that long ago the company occupied a dominant spot in the music content space only to see it slip away to more ambitious rivals. Whatever lift the company ends up getting from the controversial movie “The Interview” should be short lived, so don’t go chasing this stock.

In our Sector Spotlight article, Rob DeFrancesco rates Yelp as an investment. As a frequent Yelp user and sometime contributor I have found it to be a reliable source of accurate reviews and helpful tips, ad revenue from which drove its stock price above $100 last March. With the stock now trading at half its peak price there may be a temptation to jump in now, so Rob explains what to be looking out for in the months to come.

Rob also examines Qlik Technologies in our Next Wave Portfolio Update article. He isn’t adding it to his recommended portfolio just yet, but he thinks there may be an opportunity to buy it later this year at a lower price once the market digests its most recent earnings guidance. And that neatly summarizes what type of year we think is in store for us in 2015; don’t rush into stocks, take the time to understand what you are buying, and be willing to wait a while so you can buy them at the best possible price.