Glenview's Stone: Look out far enough, and today is a buying opportunity

Bill Stone, chief investment officer at Glenview Trust, says that buying smart in the stock market requires making investments when they feel bad, which despite this week's rally is still the case today. He foresees some recessionary troubles for 2023, but thinks the recovery from a bear market will be "normal" and likely accomplished within two years. Thus, even while he warns that earnings and conditions will look worse in the short run, the long run will benefit people who keep investing now. Likewise, Buck Klintworth, senior vice president at Chase Investment Counsel, thinks that the overwhelming evidence in the market is that this week's rally is not the start of a new bull market, but rather is a reprieve in a downturn that has longer to run. He too believes that there are good opportunities among some sectors that don't look great in current conditions, but which might lead the way next year. Also on the show, Mitchel Penn of Oppenheimer & Co. discusses the ups and downs of business development companies in the rising-rate, high inflation market, and David Miller of the Catalyst Mutual Funds talks about insider buying and selling and its influence on certain stocks in the Market Call.