Phillip Wool, head of research at Rayliant Global Advisors, makes a strong case for investing in emerging markets — as well as for sticking with investments in China despite geopolitical risk there — noting that valuations are particularly compelling compared to a domestic stock market that is flirting with record highs. While Wool does not expect the U.S. economy to go through a hard landing, he notes that the domestic market is "pricing in a lot of good news right now," and in times when the Federal Reserve is easing into a soft landing, it typically leads to overperformance from emerging markets and international investments, which means investors are entering a time when diversification geographically should pay off.  Also on the show, Todd Rosenbluth, head of research at VettaFi, looks to a new small-cap fund that uses a covered-call strategy to protect against volatility and downside risk as his "ETF of the Week," Anthony Pompliano discusses "How to Live an Extraordinary Life," his book of 65 letters he has written to his young children, that put money, success and more into perspective amid the busy lives and hectic times all of us face today. Thad Davis, president and chief executive officer at Aureus Asset Management, talks high-quality compounders in the Money Life Market Call.