Randy Lert, chief portfolio strategist for Russell Investment Group, told CNBC’s “Morning Call” that he believes valuations are now attractive for large-cap stocks.
“If you believe, as I do, that the economy is going to slow a bit, then growth rates will come down,” Lert said. “Historically, that’s large-cap territory in the market.”
He likes Goldman Sachs, Hewlett-Packard and Apple.
“What we’re seeing is dominant companies with franchises that matter and which have been able to increase their market share at the expense of competitors,” Lert said. “While they’ve done well, their stocks have not had the same level of valuation recognition that we’ve seen in small- and mid-cap names.”