US states will struggle to cover costs this year, says ClearBridge
In the US equity market, Scott Glasser of ClearBridge Advisors recommends increasing exposure to pharmaceuticals and cutting allocations to the energy sector, among other things.
Scott Glasser is New York-based senior portfolio manager of the Legg Mason ClearBridge US Appreciation Fund and screens stocks for quality. He has 18 years of investment industry experience. ClearBridge Advisors is Legg Mason's largest equity manager, with $53.7 billion in assets under management as of December 31.
In 1993, Glasser joined the research department of ClearBridge's predecessor firm Shearson Lehman Brothers as a consumer analyst and became a portfolio manager a year later…
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