Merrill Lynch's Quinlan: 'Any pullback is a buying opportunity'

Joe Quinlan of Merrill Lynch and Bank of America Private expects a truce, rather than any 'grand deal' on China, but despite those concerns he believes the market is headed higher so he suggests that investors view downturns as buying opportunities -- 'especially in large-cap, dividend-paying stocks' -- for the foreseeable future. Also on the show, Gene Peroni of Peroni Portfolio Advisors expects the Dow Jones Industrial Average to hit 33,000 before the current market cycle ends, which he says could be 18 to 24 months away. Anne Marie Levin of Key Private Bank discusses her firm's recent study of philanthropy disagreements in wealth families, and we revisit a recent chat with Eddy Vataru of the Osterweis funds.