It's time to look at global stocks on a top-down basis, said James Moffett, Scout Investment Advisors chairman on "Street Signs."
Moffett likes Brazilian beer company AmBev , for instance.
“We like Brazil and we like the consumer staples so they come together with a beer company,” he told CNBC's Erin Burnett. “It’s reasonably valued; the earnings are growing.”
Moffett is also bullish on Novo Nordisk AS, a healthcare company that provides insulin for diabetes patients.
“Diabetes is a worldwide epidemic and so far, they haven’t found a replacement or substitute for insulin," he said. "Novo Nordisk, it’s not a cheap stock, but it has come down relative to its growth rate and its stability."