US stocks look expensive, according to Jim Rothenberg, chairman of Capital Group Companies.
In an interview with FinanceAsia, he said that US companies are trading at 17-19 times earnings.
"If you hypothesise higher interest rates, those valuations can't be supported," he said.
Nobel Prize-winning economist Robert Shiller also thinks US stocks are expensive.
He recently told CNBC that his cyclically adjusted price-to-earnings ratio "is higher than it's been, except 1929, 2000 and 2007", all of which were years that were followed by large market losses.
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