managing director and partner, HighTower Advisors, Sparks, Md.

Economy Watch

Links: http://hightoweradvisors.com/who-we-are/hightower-advisors/kelly-wealth-management/

chief investment officer, Compass EMP Funds

Big Interview

Links: http://www.compassemp.com/

economist, University of Michigan

Survey Says

Links: http://www.ns.umich.edu/new/releases/20705-why-retire-later-u-m-experts-show-how-to-encourage-longer-careers; www.mrrc.isr.umich.edu

chief investment strategist, Pension Partners

Technical Difficulties

On Twitter: @pensionpartners

Links: http://www.pensionpartners.com/

chief investment officer, Schroder Investment Management

Big Interview

Links: www.schroders.com

senior portfolio manager, Sanibel Captiva Investment Advisers

MoneyLife Market Call

Links: www.Scia-Capital.com

president, InvesTech Research

Big Interview

Links: www.investech.com; www.StackFinancialManagement.com

Managing Director and Partner at HighTower Advisors, Palm Desert, Calif.

Personal Finance Tip of the Week

Links: www.hightowerpalmdesert.com

portfolio manager, Thompson IM Funds

MoneyLife Market Call

Links: www.thompsonim.com

co-manager, The GoodHaven Fund (GOODX)

MoneyLife Market Call

Links: www.goodhavenllc.com

ShortHeadline: Trauner: Run toward the fires to find the bargains

DetailInformation: Keith Trauner, co-manager of the GoodHaven fund (GOODX), said that investors who understand the difference between volatility and risk can find bargains in stocks that others view as troubled. In the MoneyLife Market Call interview, Trauner noted that investors are “much more likely to find a bargain on the new-low list than on the new-high list. … We spend a lot of time running toward fires. We may not want to go into the building that’s on fire, but we always want to take a look.” Suggesting that volatility “is just the bouncing around of stock prices,” Trauner said, while risk is the chance “that we permanently lose money … and that is what we are really trying to avoid at all costs.” By confusing volatility and risk, Trauner said investors miss out on opportunities because they are scared. Among the stocks that have had some measure of trouble that became, as a result, the kind of stock Trauner would buy are Spectrum Brands (SPB), Microsoft (MSFT) and Hewlett-Packard (HPQ). During “Hold It or Fold It,” when guests give their appraisal of stock requests made by the MoneyLife audience, Trauner said he would hold Google (GOOG), Chubb (CB, Ethan Allen Interiors (ETH), saying in each case that he’d be looking to buy more if the stock price fell to a more-attractive level. He also put a hold on DirecTV (DTV), and said he would sell eBay (EBAY) based on its valuation; a day earlier, in another MoneyLife Market Call interview, Huntington Funds president Randy Bateman had said he would be a buyer of eBay.