Short-term swings in the stock market don't alter fundamental factors, UBS Chief Investment Strategist Mike Ryan said Thursday.
On CNBC's "Fast Money," he urged patience for investors, who should "not get too caught up in volatility" following wild swings in the Japanese yen and fluctuations in the stock market.
"Now, in our view, we don't think this fundamentally alters either the trajectory of the Fed, nor do we think this changes the underlying growth dynamics for the U.S., so we're still constructive, and we're still overweight," he added.
Ryan, who has a 1,730 year-end target for the S&P 500, added that market conditions required a shift in strategy.
"This notion of purely risk-on, risk-off has to give way to something where we're going to focus on the economic fundamentals and which sectors of the market that's going to drive, not the market overall," he said.
Ryan rejected the idea that the market was addicted to quantitative easing like a drug.