Hennessy's Ellison: Financial stocks now have a 'valuation advantage'

David Ellison, manager of two Hennessy Funds focused on financial-services stocks, says that the market has technology companies trading at 15 times revenues while banks are trading at 10 times their profits, creating a valuation edge that 'makes it hard to see how [financials] will not do well over the next couple of years,' and that's before factoring in rising interest rates and other factors that could change and help the financial landscape going forward. Also on the show, Mike Taggart of Taggart Fund Intelligence discusses how investors need to look past discounts when analyzing closed-end funds, technical analyst D.R. Barton Jr. discusses how current market volatility looks mostly like a buying opportunity, and Jamie Cuellar, manager of the Buffalo Small Cap Fund, says in the Market Call that investors need to be picky with small stocks as market volatility grows over the remainder of the year.