Clerks relay orders from traders on the trading floor behind them during a frenzy of activity in the Chicago Mercantile Exchange May 15, 2001.REUTERSUS stock valuations are high, but Lazard's Ron Temple is bullish on future returns.Temple cites US innovation and economic strength as key factors for a positive stock outlook.Temple also sees opportunities in emerging markets outside China and in Japanese stocks.Yes, US stock valuations are high.