3Edge's Folts: The market's not at attractive levels yet, but soon will be

Fritz Folts, chief investment strategist at 3Edge Asset Management, says that while the current market environment is extreme and represents a 'very deep hit to the economy,' he sees the potential for a quick and sharp recovery. That said, Folts was defensive before the market turned and remains that way despite the massive drop-off over the last two weeks; he expects beaten down asset classes to start to become attractive soon, and says he will be looking at adding to Asia, emerging markets and possibly gold as he starts to become aggressive closer to the bottom of the cycle. Also on the show, Gene Peroni of Peroni Portfolio Advisors says that the sectors that led the way as the market was peaking last month will likely be the first to recover, though he says he will not be surprised if we get a 'sawtooth recovery' with a lot of ups and downs on the way to bouncing back from current downturns. Nelson Schwartz of the New York times discusses his new book, 'The Velvet Rope Economy' and talks about how the current pandemic is exacerbating the differences between the haves and have-nots, and Greg McBride of Bankrate.com is in to discuss how low mortgage rates have not been enough to keep people from feeling the pinch of paying for their homes.