Market Pricey But Opportunities Abound Says BBH Strategist

Although the market is close to an all-time high, plenty of companies are trading well below their peaks providing buying opportunities for investors, says Scott Clemons, chief investment strategist at Brown Brothers Harriman. In Clemons' view, equity market valuations are high and earnings growth is weak, despite the recent slew of companies beating Wall Street profit estimates. This does not necessarily spell the end of a bull market, according to Clemons, but it does imply that markets are more likely to overreact to external developments. Investors should be prepared for more price volatility in his view.