Research Affiliates' Nguyen: Recession looms but investors have less to fear

Que Nguyen, chief investment officer of equity strategies at Research Affiliates, says that the high probability of an upcoming recession is being priced into the market, and the more a downturn gets priced into stocks, the less investors have to fear because the damage is being done in advance. As a result, she says investors need to be looking for the inflection point where they want to buy in to get ahead of a recovery, even if that means digging in and holding for as much as three years to see the rebound play out. Also on the show, Roxanna Islam of VettaFi discusses how exchange-traded funds that invest in closed-end funds give investors diversified portfolios -- and all the benefits of investing deeply in the closed-end space -- in a one-stop shopping wrapper. In the Market Call, Jeff Muhlenkamp of the Muhlenkamp Fund talks about how the fund is dealing with high inflation -- since inflation is a component of its stock-picking methodology -- holding more cash and waiting for the right opportunity to put more cash to work.