Money Life With Chuck Jaffe Daily Podcast

Louie Navellier, president of Navellier & Associates, says that while it is early to make any definitive statement on outcomes of military actions in the Middle East, he believes the energy industry narrowly and the domestic stock markets broadly are winning as a result of these actions. He makes the case that the dollar historically strengthens in times of conflicts, and that domestic markets enter these times much stronger than foreign markets; he's expecting the stock market to produce "a great year," though he is emphasizing gold stocks to get through and past the current headline events. Author Kim Lankford, author of "Medicare 101: A Crash Course in Federal Health Insurance," discusses the relationship consumers should have with the Medicare system, its future when it comes to financing and how to navigate the morass of rules and regulations to avoid a lifetime of higher premiums and health-care costs. Chuck and his wife Gail are nearing the age when they must make Medicare decisions and enroll in t

Matt Hougan, chief investment officer at Bitwise Asset Management, says that the last six months of falling prices for Bitcoin and Ethereum represent a "normal crypto winter," the kind of downturn you see every few years, which typically lasts no longer than 11 months. He thinks the market is nearing the bottom of the cycle now, though he warns there could be more damage before any turnaround, especially with a market facing a lot of idiosyncratic events; still, he believes both crypto and global equity markets are poised for better days ahead. Hougan notes that cryptocurrency started as a "100% speculation" is evolving to where it truly becomes "as normal as gold," making it so solid that it's not really speculation at all; he says Bitcoin is roughly half way into that transition now. Long-term technical trader Mick Heyman, founder of Heyman Investment Counseling and author of "Mellow Your Money," sees the potential for the market to suffer a "shock event" — a one- or two-day decline of 10 to 15% — and a lot

Economist Howard Yaruss, the author of "Understandable Economics" and a professor at New York University, says that the market and the economy are strong on average, but that "chaos" — including the international tensions that escalated in Iran over the weekend, but also tariff and trade policies and more — should have investors leaning into gold. Yaruss notes that the market has seen so much speculative activity — including trillions for dollars invested into artificial intelligence infrastructure — so that when people see smaller-than-expected payback, the market and economy could go through the kind of demoralizing event that, historically, creates a recession.    Yaruss isn't the only one focused on chaos, as Vijay Marolia, chief investment officer at Regal Point Capital, talks in "The Week That Is' about "disruption" being the keyword for the week and beyond. He says that tensions in the Middle East have the potential to disrupt the oil market, noting how artificial intelligence has disrupted software st

Today's show is all about digging into value, which often can be found in the scariest portions of the stock market. Of late, nothing has been scarier than the wash-out in software stocks, but in the Market Call, Adam Peck, co-founder of Riverwater Partners, says that the "massacre in the software space" has made it that the software sector is now a value priced sector for the first time in two decades. With a lot of software stocks with double-digit free cash flow yields, Peck says, making software "one of the most interesting areas of the market." The software companies troubles have spilled over into the realm of business-development companies, many of which have made loans to software companies that, in theory, could be troubled if artificial intelligence replaces the need for software as a service. Behind the theory that software companies will struggle to pay debts as artificial intelligence renders their products less useful and attractive, there are been some scary, well-publicized issues with a few B

Ed O'Gorman, chief executive and chief investment officer at River Wealth Advisors, says that despite headline risks, investors need to "participate, without being overexposed" to market forces, balancing risks and approaches. He notes that recent action indicates that the market is broadening out, highlighting that an equal-weighted approach recently has delivered better results and lower returns, a sign that it's a good time to diversify and rebalance portfolios into the face of the news cycle. Bob Powell, retirement columnist at TheStreet.com and the co-founder of FinStream TV, dives into new research showing that household spending tends to decline modestly over the course of retirement, typically by small annual amounts that turn into big money over the decades of retirement. He has created a "Retirement Reality Check" that lets investors see for themselves how spending reductions -- the standard pattern, even if not conventional wisdom -- change the trajectories of retirement savings and spending. With

John Kosar, chief market strategist at Asbury Research, says money managers are moving from the market's racehorses to its sure-footed burros, saying it's a sign of "the very late stages of an up move or the beginning stages of the market starting to roll over." Kosar says the market has some room to correct and stay in bull market territory, but he thinks investors want to be cautious here until the rotation is complete. "I'm not saying doom and gloom and we';re done for the year," Kosar says, "but if you want to put on more risk ... this is a lousy place to do it." He's expecting a 5 to 7 percent move down, at which point the market will be much more attractive. In the Market Call, deep-value investor Michael Campagna, co-founder and senior investment analyst at Moerus Capital Management, discusses how the high levels of domestic stocks have him more interested in international investments, but he is finding plenty of opportunities around the globe,including, surprisingly, some that are derivative plays fro

Economist Steven Durlauf, a professor at the University of Chicago Harris School of Public Policy, weighs in on the fallout from Friday's Supreme Court decision that the Trump Administration had exceeded its authority in declaring tariffs as being necessary under emergency conditions. While the move put an end to the previously announced tariffs, Durlauf discusses the uncertain benefits of the changes, noting that there are some monies that could flow back to consumers or prices that could decrease, but that most of the impacts will be more on the policy and economy fronts than to the pocketbooks of consumers and the coffers of businesses.  David Trainer, founder and president at New Constructs, says that technology investors could be headed for trouble as he expects the sector to roll over "and take several steps back," bogged down with more balance sheets showing an overload of debt.  He notes that tech stocks have benefitted from momentum investing and buy-the-dips thinking, but if earnings slow down — as

Jose Torres, senior economist at Interactive Brokers, says the economy is strong and "not looking at a recession here," but  that hot economy benefits cyclical stocks rather than the Magnificent Seven stocks, and that limits just how much the market can gain ground. With technology "set for a down year," the other areas of the market can't generate enough gains — even in a robust economy — to make 2026 positive. He also notes the market has been running in a "three year on, one year off" cycle, and he thinks that will impact tech companies this year." Torres still expects rate cuts and thinks any downturn will be relatively short lived and not too deep, but enough for where investors should adjust their expectations. John Cole Scott, president of CEF Advisors, sizes up the prospects for the first new IPO the closed-end fund industry has seen in several years, and from a surprising source. Robinhood markets, the investment platform, will launch next week Robinhood Ventures Fund I, a concentrated portfolio of p

Greg Daco, chief economist at EY, says the economy has been dealing with historic and conflicting economic shocks, but if it can continue the current capital investment cycle and see the productivity gains promised by artificial intelligence, it should be able to remain resilient in pushing past wobbles and weakness. Daco, who currently serves as the president of the National Association for Business Economics, discusses his concerns that growing polarization between different consumers and businesses are increasing the fragility of what he calls "the A pillars of economic growth" — affluent consumers, A.I. investment and asset-price appreciation economic growth — and how that creates "pockets of risk" that could change the cycle.  Todd Rosenbluth, head of research at VettaFi, leans into signs that the stock market has been broadening to make an equal-weight fund his ETF of the Week, noting that the balanced construction creates a very different take on the market than the traditional index fund covering the

Ryan Detrick, chief market strategist for the Carson Group, says that February and March could be "banana peel months" for the stock market to slip on, but he's not expecting a significant downturn and he says the underpinnings for the stock market will keep the bull market running through at least the end of the year. Detrick noted that the market has sent some mixed messages — with about 20% of stocks making 52-week highs while 6% made 52-week lows just last week — but he says that a strong economy with a dovish Federal Reserve can overcome geopolitical concerns, creating an environment where investors should be "overweight equities, but diversified around the globe." Dan Doonan, executive director for the National Institute on Retirement Savings, discusses their latest report, "Retirement in America: An Analysis of Retirement Preparedness Among Working-Age Americans," which has made headlines for suggesting that the average working American has less than $1,000 saved for retirement. Doonan is quick to back

David Trainer, founder and president at New Constructs, says the intensity of competition in the artificial-intelligence business is setting up a path for big winners and losers, and he says that it's nearly time "to see a lot of the companies in the AI race fall out." Trainer cits cash flows turning negative, and says that accounting tricks have hidden much of the problem by allowing companies to keep some debts off of balance sheets. When focusing on what he calls the real debt level of the companies, Trainer says "the cash flow for these companies is highly negative and it cannot be sustained." Further, Trainer notes that with so much money committed to the development of A.I., there is no guarantee that the companies that get in trouble will find a market waiting to take them over once the financial troubles hit. In "The Week That Is," Vijay Marolia, chief investment officer at Regal Point Capital, discusses how last week's software sell-off isn't changing his take on how "Software will eat the world," bu

Ted Oakley, founder and managing partner at Oxbow Advisors, says that he expects the market to be setting new highs but to challenge some serious lows, hurt by high valuations, current economic conditions and the election cycle. "This will not be a real strong year for the market, and if you make money, you will have to know where to invest and when to invest," Oakley says. He notes that he is more invested internationally in the last 18 months than he has been in years, due largely to lower valuations abroad, and he is also keeping some powder dry expecting better opportunities when the market gets shaken through patches of volatility. Chris Oberbeck, chairman and chief executive officer at Saratoga Investment Corp., says that  increases in default rates are more of a return to normal than a sign of trouble for business-development companies or the economy. Between a bankruptcy and fraud case like First Brands and softness in the software business, Oberbeck thinks that recent activity is more a hangover comi

Jonathan Treussard, founder of Treussard Capital Management, says that many investors have staked their financial lives on the stock market continuing the kind of gains it has posted since the Great Financial Crisis nearly 20 years ago. He worries that that investors haven't saved for retirement or college tuition in a world where the market doesn't deliver something close to expectations; with that in mind — and in a world where valuations are stretched and concerns are abundant — he says investors need to prepare for uncertainty, and to decide how they would feel if the market tanks and what they could do to get more comfortable with the market's potential to peak and take a protracted turn for the worse. Todd Rosenbluth, head of research at VettaFi, revisits a fund with an options overlay strategy — one he picked as ETF of the Week in 2024 when it was new — and discusses the success investors have found with it. Plus, Andrew Graham, founder and portfolio manager at Jackson Square Capital, returns to the Ma

Amanda Agati, chief investment officer at PNC Asset Management Group, says that earnings growth will be the "defining driver" of market performance in 2026, and would be the factor to watch if you could only see one. PNC is forecasting earnings growth of nearly 15% this year, "which is darned good enough to keep the market rally engaged, even with valuations being a headwind." Agati notes that while there is a "purple haze of policy uncertainty" surrounding the market, she does not expect those concerns to derail the market, noting that accelerating earnings and economic growth should power through the headlines. In the Market Call, Raymond Bridges, portfolio manager at the Bridges Capital Tactical ETF, brings his "aggressively cautious" approach to stocks, talking about where to be opportunistic now. Emily Fanous discusses the IPX1031 annual Travel Outlook survey, which showed that 94% of Americans plan to travel this year — with more than 40% planning to travel more than they did a year ago — but a large ch

Jack Ablin, founding partner and chief investment strategist at Cresset Capital, is expecting double-digit earnings for stocks generally — but only single-digit growth for the Mag 7 — and he says the broader market with moderate growth and strong economic stimulus should roll on. Ablin entered the year expecting " double-barrel stimulus" from tax refunds created by tax cuts and interest rate cuts, but now that the next Federal Reserve chairman has been selected and that he is more hawkish than expected, he sees fewer rate cuts and a market that is steady but not spectacular. One are that has been spectacular, gold, has Ablin on edge, as he says the precious metal "is telling us that, by the end of 2027, inflation will be 10 percent." He thinks that's too high, which is why he expects gold to correct. Also expecting a correction is Michael Kahn, senior market analyst at Lowry Research Corp., who says the firm's proprietary Lowry Market Health Score is in "moderately strong territory" leaving "more to go in thi

Terri Spath, founder and chief investment officer, at Zuma Wealth says it is understandable that investors are nervous with a lot of geopolitical worries and headlines on top of a market winning streak that can't go on forever, but she says that a strong earnings outlook, a healthy economy and the market's hot start to 2026 have her constructive and positive on the year ahead, expecting more good news without the negatives of recession or a bear market. She is urging clients to go back to basics to calm their nerves, noting that the market is going through a sharp rotation away from a few leaders to a broader outlook where investors will benefit from diversification and patience. With Valentine's Day ahead this week, David Trainer, president at New Constructs, eschews the usual worrisome pick for The Danger Zone, and instead goes for something much sweeter, a home-building company that he says is particularly attractive now. With jobs and inflation data on tap for this week — and the stock market coming off a

Steven Dover, chief investment officer at Franklin Templeton, says that while the economy generally looks positive, he sees it in a "rough spot, especially with those Mag 7 or A.I.-related stocks," which he said have gotten "way ahead of themselves." Dover, who also serves as head of the Franklin Templeton Investment Institute, says he doesn't see an old-fashioned recession happening, but thinks there may be rolling recessions impacting specific industries and sectors. That could lead to a situation "where the average looks great but for a whole lot of people it isn't good," the K-shaped downturn that impacts people who are lacking assets the most. Kyle Brown, chief executive officer at Trinity Capital, gives his outlook for the private credit and lending space, and notes that there could be some challenges for business development companies and private lenders late in the current economic cycle because returns from private credit generally have been declining. That has meant single-digit leveraged returns, B

Barry Ritholtz, chairman and chief investment officer at Ritholtz Wealth Management, says that while the stock market has blown past multiple red flags and warning signs, investors should not be acting as if indicators like an inverted yield curve, events like war or tariffs, or a simple market winning streak are leading to some sort of fast market shift. Rather than getting caught up in the next news story, Ritholtz says to focus on diversification and common-sense long-term investing strategies, and he notes that for all of the reasons investors are nervous, he would focus on earnings, noting that if he had only one variable to look at to forecast the market's potential, it would be earnings. So long as that trend continues — and he expects it to — the market should keep gaining ground. Todd Rosenbluth, head of research at VettaFi, looks to emerging markets with his ETF of the Week, picking a classic, low-cost, long-term fund that he says can be a core holding for investors looking to increase foreign expos

Jeff Weniger, head of equity strategy at WisdomTree Asset Management, worries that there may be "an upside CPI surprise" coming in the second half of the year, but he also says there is "the risk of upside economic surprises" now, evidenced in the market action, where he sees basic materials, energy and "things that come out of the ground" like commodities and oil leading the way. Those are assets that normally lead late in the economic cycle, and he expects them to stay strong through 2026. Weniger also discusses why President Trump's recent nomination of Kevin Warsh as the next Federal Reserve chairman has Wall Street scrambling with changing expectations and outlooks. Chuck goes off the news with Bob Powell, retirement columnist at TheStreet.com, to discuss his recent piece on why "focusing on the break-even point" leads many Americans to make the wrong Social Security decision. Powell notes that break-even analysis is mostly used to formulate a bet on longevity, rather than focusing on the income and infl

Emily Roland, co-chief investment officer at Manulife John Hancock Investments, says that she may be forced to believe her eyes and is whispering to investors "This time is different," which are famously described as the most dangerous words in investing. With leading economic indicators negative for 38 months, the long time when the yield curve was inverted, three months of negative job growth and more; all of those are supposed indicators of trouble and recession, but the difference has been that the market has overcome those concerns. Roland is encouraging investors to resist the urge to trade on political headlines, or to get caught up in "fear of missing out" and jumping into parts of the market that are moving more on sentiment than fundamentals. She says it is a back-to-basics market, where investors might want to look more toward bonds as a backstop to high valuations and headline-induced nervousness. Brad Lamensdorf, portfolio manager of the Ranger Equity Bear ETF, says investors should be more nervo