Want to create an interactive transcript for this episode?
Podcast: Money Life with Chuck Jaffe
Episode: NDR's Clissold: This market needs to price in 'an uncertainty discount'
Description: Ed Clissold, chief U.S. strategist at Ned Davis Research says that he expects the stock market to back off of its current "pretty elevated" levels as it prices in a discount for uncertainty. "Whether or not you think in the long run that changes by the Administration are good or bad, while we go through them means that probably valuations need to be lower," Clissold says, noting that the discount will be accompanied by choppier market action, heightened volatility and more pullbacks and corrections. Further, Clissold notes that the situation could last until the economy digests a workforce...