Chautauqua's Beitner: Optimism is excessive relative to long-term impacts from pandemic

Brian Beitner of Chautauqua Capital Management says that investors are risk-on right now -- despite a market and global economy that could have trouble shaking off the impacts of coronavirus -- at a time when they likely should be risk-off, meaning more conservative and fearful of a downturn. Also on the show, John Cole Scott of Closed-End Fund Advisors and the Active Investment Company Alliance answers audience questions and discusses how big discounts don't actually make closed-end funds 'cheap' on a relative basis, Lawrence McMillan of McMillan Analysis discusses why the market's technicals have him optimistic right now, and Ken Laudan of the Buffalo Discovery fund talks health-care and pharmaceutical stocks in the Market Call.