GenTrust's Besaw: A.I. isn't 'magic,' but the market is acting as if it is

Money Life with Chuck Jaffe

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9d ago 58:42

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Jim Besaw, chief investment officer at GenTrust, says that the market is pricing everything as if all artificial intelligence ideas are going to come through and deliver revolutionary change and profits, and that investors are ignoring the risks that come with the technology. That could be setting them up for a fall, although Besaw is neutral on the market rather than negative, and is also neutral on asset allocations, noting that he's not leaning into specific sectors or markets -- with the possible exception of favoring international markets slightly to domestic -- and is instead at baseline levels trying to remain calm and patient while headline risks play out and signal the next moves.

Steven McKee of the No-Load Mutual Fund Selections & Timing Newsletter discusses how his timing models are bullish right now, across all asset classes. While the headline risks have captured investors' attention, he says there is not much on the horizon right now that could turn the timing models bearish quickly.

John Cole Scott, president of CEF Advisors, looks at business-development companies, which have been in the news lately as industry watchers have questioned whether the high yields could be luring investors into a sticky situation when rates start falling and business conditions tighten. He draws on history and times when BDCs have been whipsawed by the market to look at whether a collapse is driven by the situation or by the system itself.

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