Barry Ritholtz on current financial narratives and how the market will debunk them

Barry Ritholtz, chairman and chief investment officer at Ritholtz Wealth Management, says that investors love a good story, but they tend to put too much stock in them and right now they are looking at a lot of things that either "can't" happen or "must" happen after two big-gain years for the market and they're making misguided decisions. He notes that the economy is likely to continue to avoid recession, especially as the 2020s will be looked back on as a period that pushed technology forward and created productivity  and other gains that helped a mature economy keep growing. Chris Vermeulen, chief market strategist for The Technical Traders, discusses why short-term concerns have him on the sidelines right now -- even with the market potentially set to gain another 5 to 8 percent before he expects a downturn -- and what he will need to see to feel comfortable moving back into the market. In The NAVigator segment, Miguel Laranjeiro, investment director for municipal debt at Abrdn, says the appetite for muni-bond assets has been growing at a point when "tax-exempt yields look really attractive."