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Podcast: Money Life with Chuck Jaffe
Episode: Schwab's Sonders: Near-term risk is in re-setting earnings expectations
Description: Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., says that the next step the stock market must take to begin a recovery involves adjusting earnings expectations, noting that several years of record earnings "set the bar too high," and now investors must adjust to lower, more realistic gains. Yes, she notes, valuations have dropped due to the bear market, pricing "a heck of a lot of negativity into the market," but it's now time for 'the E to come under pressure.' Sonders notes that while she thinks the economy is in a recession, the label matters m...