With stocks at record highs, there are still buying opportunities, but investors should be selective. That's the assessment of David Bahnsen, chief investment officer of HighTower. Bahnsen likes shares of Blackstone (BX) , GlaxoSmithKline (GSK) and Omega Healthcare (OHI) . As for Blackstone, Bahnsen said he's not sure if the Trump administration will remove the carried interest tax perk that many financial firms benefit from. If that perk is removed, Bahnsen believes those downside risks are already priced into Blackstone's stock. TheStreet's Scott Gamm reports from Wall Street.

More from Video

Lee Munson: Tesla Is a 'Money Monster'

Lee Munson: Tesla Is a 'Money Monster'

Lee Munson on the Market, Trade and the Possibility of a Recession

Lee Munson on the Market, Trade and the Possibility of a Recession

What's My Data Doing in the Cloud? -- 60 Seconds

What's My Data Doing in the Cloud? -- 60 Seconds

Tilray CEO: Surging Cannabis Industry Is a Threat to Food and Drug Players

Tilray CEO: Surging Cannabis Industry Is a Threat to Food and Drug Players

GE and Microsoft's Earnings Beats and 4 Other Stories to Watch Friday Morning

GE and Microsoft's Earnings Beats and 4 Other Stories to Watch Friday Morning