The Trump administration's new policies will dramatically change the investment landscape for the better, Richard Saperstein, chief investment officer for HighTower Treasury Partners, said Thursday on CNBC.
Saperstein, who's ranked seventh on Barron's Top 100 Advisors for 2016, told CNBC's "Fast Money Halftime Report" he's become bullish since the election and is advising his clients to follow his lead and increase their exposure to stocks right away.
"For clients who have a one-to-four-year investment horizon, it's time to own stocks and move to full equity positions," he said. "If you're a short-term investor, you have a one-to-six-month horizon, there will be air pockets. Wait for one of them if it happens, but for long-term investors, this is a different landscape to invest in."
He noted that the market is pre-loaded and has gotten ahead of itself in the short run, and as a result, he said, he's now underweight banks because they've moved "way too far." He expects to see a lot of rotation in the market, with health care — which he says has been "way oversold" — and technology making a comeback.