Long-short manager Lamensdorf says the market is overdue for a correction

Brad Lamensdorf, manager of the Ranger Equity Bear ETF and Alpha Alts — a new long-short hedge fund set to open soon — says he thinks the market is due for a bear market, and the indicators are starting to show signs of stress, setting it up to get knocked down. He worries the trigger might be what's happening in the bond market, where higher rates are going to slow the economy, triggering a correction  or worse. Lamendorf says that over the next few years, "there will be a very large layer of stocks that don't do well ... struggling under this environment and valuation." While Lamensdorf focuses mostly on the equity markets' reaction to Treasury rates hitting their highest level this week in nearly 20 years, John Cole Scott, president of CEF Advisors weighs in on what it means for income-oriented investors, particularly in closed-end funds. He says the Treasury situation — including the U.S. Treasury announcing it would double its buy-back capacity — currently calls for portfolio tilts and mild changes, but notes he will be watching for bigger buying opportunities. Ryan Jacob, chief investment officer of the Jacob Funds, discusses technology stocks in the Market Call. Jacob, who was the manager of the first pure-play Internet fund during the late 1990s, also compares the artificial-intelligence revolution to the Internet situation, sizing up the similarities and whether the current bull market has to come to a similarly ugly end.