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Barry Ritholtz on the Bull, the Bear and Candy Bars

You may have read his blog -- The Big Picture -- and you've probably seen him on TV, but chances are you've never heard Barry Ritholtz referred to as Jeff Macke does.

Ritholtz, of FusionIQ, dropped by Breakout and engaged in a spirited conversation with Macke and me about Hershey, a certain downtrodden name in the PC area, and other stocks and themes he's watching.

The outspoken investor and author, who is currently 70% cash, thinks we're about halfway through a secular bear market but that the next great bull market is less than a decade away. Your job as an investor in this kind of market: Don't lose money, so you can "get to the next 1982 with your capital intact."

But for the short term, he says there are still trades -- and there is still money -- to be made. His approach: "Everything that we own we have a prenup with. When it misbehaves, we're done."