Fritz Folts pulled back on international equities in response to energy sector moves. When reentering the market, he’s looking for value. He looks at gold and U.S. dollar moves and highlights opportunities in Latin America he thinks investors are missing out on. Fritz thinks oil could rise and hit $120, or even higher, depending on whether Iran keeps attacking the Strait of Hormuz. “If you start a war, it’s hard to control the outcome,” he says, noting today’s inflation print was recorded before the war.