“The market is extremely optimistic” despite what Phil Rosen terms a “black swan” event in Venezuela. “I think we’ll see some choppy trading” with the oil giants in the coming weeks, he says, but argues that the world might be happy to see a capitalist government in the country. He’s watching Latin American stocks, especially the iShares Latin American ETF (ILF), though he notes it doesn’t include Venezuela. He anticipates multiple rate cuts this year from the Fed.