The stock market is suffering from excessive optimism and overconfidence, but there are still opportunities if investors know where to look, expert Larry Glazer told CNBC on Friday.
"They're going to get a whole lot more selective since the election," the portfolio manager for Mayflower Advisors said in an interview with "Closing Bell."
"Perhaps we should take the Trump trade and turn it on its head and look at the anti-Trump trade."
Since President Donald Trump's victory in November, the market has rallied as investors looked to the potential of tax cuts, deregulation and infrastructure spending. Specifically, financials and infrastructure stocks have soared.
Instead, Glazer would look at ETFs that cover Mexico, the U.K. and emerging markets, which he said are areas that have been left behind.
"There are opportunities but not where people are positioned right now," he said.
Andy Kapyrin, director of research at RegentAtlantic, agrees.
While there hasn't been any meaningful profit gains by U.S. corporations, emerging markets saw a 4 percent in earnings growth in just one quarter, he said.
"Ultimately you are buying earnings and you're buying earnings growth," he said. "You're getting it abroad and not in the U.S."