Leuthold's Ramsey: Valuations are on a par with the peak of the tech bubble

Doug Ramsey, chief investment officer at The Leuthold Group, says that stock market valuations are at levels last seen at the peak of the Internet bubble, but that the number of stocks trading at highs is broader than it was back then. With that in mind, he expects a "return towards sobriety' for the market ahead, with high-priced growth and technology stocks likely to get market down significantly in 2022, while financials, energy and traditional value stocks have much better prospects ahead. Also on the show, Zach Jonson of Stack Financial Management talks about the high-risk environment that he sees based on key technical indicators, Harin DeSilva of 361 Capital discusses the changing volatility picture and how it should make investors think about getting defensive, and potentially balancing their long positions with short ones, and fund attorney Thomas DeCapo of Skadden Arps covers the changing backdrop for activism in closed-end funds in The NAVigator.