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)
Market Views — Bull & Bear:
- Fears Overdone, Double-Dip Unlikely: Strategist
CNBC Data Pages:
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No immediate information was available for Lenherr or his firm.