Stocks remain the best place to invest in 2017 and beyond, as compelling valuations show the market has further room to run, according to Morgan Stanley Private Wealth Management's Andy Chase, who oversees more than $20 billion in assets for investors.
"If you don't have the guts to be entirely in real estate, which I think is more in the eighth or ninth inning, I think stocks are still in the third or fourth inning, which nobody is talking about because I think multiples should be much, much higher," Chase told CNBC PRO.
"I look at stocks as the only asset class, frankly, that hasn't had price inflation. It's actually extremely cheap relative to bonds," Chase added.
He was selected by Barron's in 2016 as the top financial advisor in the United States, after a 30-year career in wealth management.
In this exclusive strategy session hosted by CNBC's Mike Santoli, Chase reveals his approach to investing and also discusses:
PRO subscribers can also read the entire transcript of the exclusive interview below.