Wells Fargo's Cronk: 'Toughest first half of a year' won't get easier overnight

Money Life with Chuck Jaffe

Darrell Cronk, chief investment officer for Wells Fargo Wealth and Investment Management, says that investors have endured the toughest start to a year for stocks and bonds in decades, but the mounting troubles should culminate in a recession in the second half of the year, with the downturn going deeper before a real recovery occurs. Cronk says that he thinks if the Standard & Poor's 500 were to hit 3,300, valuations will be so compelling that he will be "pounding the table" to get clients to buy. Also on the show, Tom Lydon of VettaFi.com makes a managed-futures fund that has posted strong performance amid the market's troubles his ETF of the Week, John Boroff, vice president of youth investing at Fidelity Investments discusses the 2022 results from its "Teens and Money Study," and Chuck answers a listener's question about required minimum distributions for this year.