Live from New York City, Main Street Research Chief Investment Officer, James Demmert, said, "We're probably due for a normal pullback or correction," adding that it's "usually the magnitude of eight to 10%. Nobody likes the small-cap space, and we would suggest this is the time that investors should start to sort of wade into (it)." He also said recent changes in Japan have made stocks there more attractive.

Watch both clips: Part 1 and Part 2.

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