ICON's Callahan: The market hasn't bottomed yet, protect your cash

Craig Callahan, founder and chief executive officer at the ICON Funds -- who correctly called the bottom of the pandemic-driven bear market in March 2020 -- says that there are signs that the stock market has been through the ringer, but it's not yet showing enough signs that it has reached a bottom. Callahan says the market is roughly at fair value, not nearly beaten up enough to create the kind of widespread bargains normally found at a market bottom. the way it typically would be in As a result, he is holding maximum cash, waiting for inflation to start to ease, which should key the market reaction that puts him back in a buying mood. Also on the show, Rich Compson, head of managed accounts at Fidelity Investments talks about "direct indexing" or personalized indexing, and how it is now available to average investors with much smaller account balances; and in the Market Call, Scott Davies, founder and chief investment officer at CDAM, talks about international value investing now.