Election a two-ring circus, but focus should be on jobs, Janus Capital CEO says

The presidential election so far has been a two-ring circus, with neither Hillary Clinton nor Donald Trump focusing enough on what's important to the country, Janus Capital CEO Dick Weil said Tuesday.

Instead, the election has been about emotion, not policies and facts, he said.

"If you want to be critical of both rings of this two-ring circus, you can say that they get caught up in a whole lot of other issues and discussions which I think are largely irrelevant to our future," Weil told CNBC's " Power Lunch ."

"Really we have two issues — security and jobs. The candidate who does a better job on both those things should get our vote."

While he is disappointed in the level of conversation about the economy so far, he hopes that as Election Day gets closer, the economy and jobs will become front and center.

Meanwhile, with the stock market sitting near record highs, it's obvious that Americans are interested in equities again, Weil said.

"With low rates, they don't have a lot of choice if going to meet their retirement goals and their investment targets," he said. "To a certain extent they are forced, which is driving a relatively high valuation in sort of an absolute sense."

However, relative to yields, he thinks the stock market is fairly valued.

On Tuesday, Janus Capital (NYSE: JNS) reported revenue and profit that missed estimates. However, its inflows were positive. Average assets under management in the second quarter were $189.3 billion compared with $180.2 billion in the previous quarter.

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