The Fed ramp coincides with polls suggesting a growing chance of a Democratic sweep of both the White House and Congress in the coming elections.
"There are sectors that we think will be vibrant for 2021 and 2022," Gabelli believes: autos, housing and infrastructure, as well as "green" stocks.
Magellan CIO Hamish Douglass says politicians might as well believe in the tooth fairy if they think high levels of government debt are sustainable.
Right now, Gundlach has just 25% of his portfolio in stocks. The rest is split between bonds, cash and gold. He thinks diversification is everything.