Stock Prices to Fall Further—So ‘Sit and Wait’ Before Buying

Market opportunities seem plentiful—but resist temptation and wait for prices to fall further, says Beat Lenherr, chief global strategist at LGT Capital Management.

“I wouldn’t put any fresh money into the market at this time," Lenherr told CNBC.

"We’re going to see more opportunities later on...So in a nutshell, sit and wait and see would be the right thing to do.”

Lenherr said there’s a downtrend happening in the emerging markets—particularly China, which is “clearly” in a bear market.

“It’s not too late to take money off in the emerging markets," he said. “Whereas in the U.S., we see strong economic growth and strong earnings [ahead]."

Scorecard — What He Said:

• Lenherr's Previous Appearance on CNBC (May 21, 2010)

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Market Views — Bull & Bear:

• Beware the 'Death Cross,' Sell into Rallies

• 10 Reasons Why Markets Will Rebound: Pro

• Fears Overdone, Double-Dip Unlikely: Strategist

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CNBC Data Pages:

• Dow 30 Stocks—In Real Time
• Oil, Gold, Natural Gas Prices Now
• Where's the US Dollar Today?

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CNBC Slideshows:

• 20 Stocks To Potentially Pop

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CNBC's Companies in the News:

BP

• BP Monitors 'Top Kill' Attempt to Plug Spewing Oil

Citigroup

• Citi Pushes ECB on Sovereign Debt Insurance Plan

Bank of America

• BofA, Citi Incorrectly Hid Billions in Repo Debt: Report

Apple

Microsoft

• New King of Technology: Apple Overtakes Microsoft

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Disclosures:

No immediate information was available for Lenherr or his firm.

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