Cresset's Ablin: Expect a lumpy recovery, mostly led by the U.S.

Money Life with Chuck Jaffe

Jack Ablin, chief investment officer at Cresset Capital Management, says investors should expect big economic growth numbers in the second and third quarters -- fueled by the release of pent-up demand plus inflation pressures -- but notes that nominal GDP growth of roughly 10 percent in those quarters will be in the United States and not around the world, leading to what he called a 'lumpy recovery,' mostly driven by the domestic action. In the Market Call, Manny Weintraub of Spears Abacus talks about 'growth at a reasonable price,' or as he prefers to call it 'super great stocks that are not going to kill you.' And Chuck answers an audience question about the 60-40 portfolio and about changing asset allocations.