AICA's John Cole Scott: Expect the weak to get stronger in 2023

John Cole Scott, chief investment officer at Closed-End Fund Advisors -- the chairman of the Active Investment Company Alliance -- says that investors looking for the top sector bets in the new year will want to look at some of 2022's weakest areas, most notably real estate investment trusts 'REITs' and real assets. He also expects international bonds and more to be in the sweet spot. Scott gave his look-ahead for the closed-end fund industry for 2023, and it's a year when he suggests investors take more duration risk, tilt their equity portfolios toward value, dividend and international funds and expect to see discounts narrow and yields to fall, though the latter will be driven by some capital appreciation later in the year as the economy and market continue to digest inflation and more.