Glenview's Stone: Long-term investors should be looking for buys

With the market melting down Monday and suffering its worst loss in over two years, Bill Stone, chief investment officer at Glenview Trust, says that wary investors are justifiably nervous, but they shouldn't be distracted from their long-term goals, which means staying diversified and invested and looking for opportunities. Stone does warn that the well-publicized opportunities in artificial intelligence may be a bit overblown now; while he believes AI technology will reshape industry and deliver on its enormous potential, he thinks the market has gotten ahead of itself in terms of valuing AI plays. That sentiment is shared by hedge-fund manager Lukasz Tomicki, managing partner at LRT Capital Management, who says in the Market Call segment that he is avoiding most artificial intelligence plays now, noting that the AI "frenzy" has created unreasonable valuations and expectations. Plus, economist Paul Collier discusses his new book, “Left Behind: A New Economics for Neglected Places,” which was released today and which questions traditional assumptions on how to improve economically struggling areas.