Virtus' Terranova: Be patient, a U-shaped recovery is coming

Joe Terranova, chief market strategist at Virtus Investment Partners, says 'the enemy right now for investors in the market is time,' and understanding how to be patient, because the market's current troubles are masking economic strength and the likelihood of a U-shaped recovery. He expects that a record year for corporate buybacks and an investing public that is flush with cash should buffer the market against any prolonged downturn, creating a recovery for patient investors who ride it out. In the Talking technicals segment, Matt Fox of Ithaca Wealth Management says we are currently experiencing a cyclical bear market within a secular bull market, but notes that that charts are 'screaming caution,' and that investors who have been conditioned to buy every dip should be waiting for 'a wash-out in sentiment before the charts give an all-clear.' Also on the show, Mike Taggart of Taggart Fund Intelligence and the Active Investment Company Alliance returns to The NAVigator to answer listener questions about the persistence of discounts, and Joe Rinaldi of Quantum Financial Advisors talks both stocks and exchange-traded funds in the Market Call.