James Demmert joined CNBC's Closing Bell: Overtime to discuss how investors can prepare their portfolio for a stock market correction, and how to avoid complacency when investing.
“I think investors in general have just been overly optimistic as we enter this seasonally weak period,” said James Demmert, chief investment officer of Main Street Research. “The print on the CPI, I think, is a reminder: The Fed’s done a lot of this work that needs to be done, but it’s still a bit sticky. So that means rates [are] higher for longer,” he said Thursday on CNBC’s “Closing Bell: Overtime.” Demmert added that there are indications the market may be due for more of a pullback from current levels, noting the market’s retreat from its “big open.”“That’s kind of what corrections look like as you roll through. And I think we’re just a third through this one, so far,” he said.