Money Life With Chuck Jaffe Daily Podcast

David Goerz, chief investment officer at Strategic Frontier Management says that while the current momentum is with large-cap growth stocks, he expects small-cap stocks and the value style of investing to be the right call for longer-term investors, noting that he would be gravitating his asset allocation towards sectors filled with value-oriented issues --  like financials, industrials and real estate -- while avoiding areas like consumer staples and health care. Jay Kaplan, manager of the Royce Small Cap Value and Royce Total Return funds echoed many of those sentiments in the Market Call; both money managers disliked the energy sector. Also on the show, Jeffrey Bierman, chief market technician at TheoTrade.com, says that while the market has been rising, thin volume suggests that the current rally is not well supported and could turn on a dime, while Meredith Stoddard, vice president of life event planning at Fidelity Investments discusses the firm's 'Moving Forward' survey released today, looking at how i

Greg Valliere, chief U.S. policy strategist for AGF Investments, says he believes the 2021 economy will be okay and show signs of life, but that political unrest between the election and any further coronavirus stimulus is likely to make the remainder of 2020 volatile and lackluster. Also on the show, David Goodsell of the Natixis Investment Managers' Center for Investor Insight talks about the mixed market outlook expressed by the professional strategists consulted in a recent survey, David Trainer of New Constructs highlights an accounting-rules change that is making it harder for investors to uncover bad news and a true picture of certain stocks, and Rob Reilly of PRW Wealth Advisors taks mutual funds and ETFs in the Market Call.

Sam Hendel, president of Levin Easterly Capital, says in the Market Call that the market being near record highs hasn't made it significantly harder to find value stocks poised for strong performance, especially if you are willing to be somewhat contrarian. Also on the show, Terry Gallagher from UMB Fund Services talks about developments in closed-end funds, most notably the evolution of tender-offer funds, Matt Zajechowski of Digital Third Coast discusses a recent survey on the impact of Covid-19 on prices consumers are paying at the supermarket and elsewhere, and author Jame DiBiasio, chats about his book 'Cowries to Crypto: A History of Money, Currency and Wealth.'

Two Big Interview guests today raise questions about the long-term recovery of the economy from the coronavirus pandemic. Lale Topcuoglu of J.O. Hambro Capital Management says that the market assumes that the economy will recover quickly, butworries that a slower rebound and lower growth rates than expected could lead to deterioration in the fixed-income and credit markets, while Nigam Arora of The Aurora Report discusses how the market and economy will respond to additional stimulus and how the expansion of the national debt will eventually turn into a problem. Also on the show, Tom Lydon of ETFTrends.com makes a fund that seeks out cash cows his 'ETF of the Week,' and Rebecca Gramuglia of TopCashback.com discusses how consumers can get more out of their holiday shopping budget if they start planning now.

Michael Falk of Focus Consulting Group returns to Money Life for an update not only on his struggles with Lou Gehrig's Disease, but also on how changes to the market and economy should have all investors asking one key question that should determine what they do next. The show adds a new regular to the lineup with the debut of Left Brain Thinking; Noland Langford of Left Brain Investment research discusses 'election-proof stocks.' Also on the show, Sarah Ketterer of Causeway Capital Management talks international value investing and more, and Vivian Tsai of the College Savings Foundation covers how Covid is changing the way parents and students are thinking about college.

Scott Colyer, chief executive/chief investment officer at Advisors Asset Management, says that the Federal Reserve has primed the pump for the market, but noted that investors need to display some caution. Colyer points out that many people took their stimulus check to the broker and started investing, and all of that enthusiasm tends to be a danger sign for what lies ahead. While Colyer is cautious, he remains fully invested, though he believes investors need to diversify away from the hot stocks and think more broadly. Also on the show, Michele Schneider of MarketGauge.com sees the market's technicals as largely favorable, but with worry signs, John Divine of US News and World Report discusses the hot IPO market and what to expect from new issues for the remainder of the year, and Gary Bradshaw of the Hodges Funds discusses blue-chip stocks in the Market Call.

Niladri Mukherjee of Merrill Lynch Bank of America Private Bank says that investors are more bearish now -- with the Standard and Poor's 500 Index at 3,300 -- than they were when the benchmark stood 1,000 points lower at the bottom of the market's February-March blood-letting. That sentiment is helping to create a pent-up demand that turns most declines into buying opportunities, and is why the market, according to Mukherjee, is entering a new bull cycle, rekindling the secular bull market that started about seven years ago. Brian Kraus of the Hartford Funds talks about a recent survey in which investors discussed how the outcome of the presidential election will impact their investment decisions, Andrew Hsu of the DoubleLine Funds discusses the impact that the election will have on infrastructure spending and project bonds, and David Trainer of New Constructs puts Dropbox stock in the 'Danger Zone'  saying it is significantly overpriced now.

John Kosar, chief market strategist, says the data is telling him that the stock market is due for a short-term pullback, noting that the Standard and Poor's 500 has been hovering in a range signalling a downturn in the offing, looking like it could test current support at the 3,233 level. If the market breaks support from there, Kosar says to expect the 200-day moving average level of roughly 3,100 to be the next test, and that the market could get to it and beyond fast before a rebound comes into view. John Cole Scott of Closed-End Fund Advisors and the Active Investment Company Alliance opens the show by looking back at the first year of The NAVigator segment and the tough and changing year it has covered in the closed-end space, while also looking ahead with some picks for the year ahead.  Also on the show, Robert Hockett, author of "Money From Nothing ... Or, Why We Should Stop Worrying About Debt and Learn to Love the Federal Reserve" discusses the economic fallout from current events, and Daniel Dolan

Mike Calwell, manager of the Driehaus Life Sciences Fund, says that while investors are focused on the coronavirus pandemic and the companies poised to cash in on developing a vaccine, the next decade for life-sciences stocks should include wide-ranging personal health developments combatting things like heart disease and cancer that will still be among the nation's biggest killers long after the virus has passed. Caldwell suggests investors focus on the long-term and the more permanent opportunities, noting that some of the public funding to combat Covid-19 will contribute to advances in many other areas. Also on the show, author Steve Vernon talks about his latest book on the steps investors can take to avoid going broke in retirement, Matt Schulz of CompareCards.com discusses consumer savings amid the pandemic, and Tom Lydon of ETFTrends.com makes an IPO stock his 'ETF of the Week,' suggesting that investors may want to keep a permanent allocation to new and nascent stocks.

John Blank, chief market strategist and economist at Zacks Investment research, says that for all of the stock market's volatility and its headline-induced nervousness, results have been mostly average and investors who look at the long run can easily recognize that the market has been sticking with historic norms despite feeling like it has been put to historic extremes. Also on the show, Chuck answers audience questions about the 'bucket system' of saving for retirement and on the spreads an investor might pay to be a long-term social investor, author and entrepreneur Ken Rusk discusses his book 'Blue Collar Cash,' and Sarah Berger of MagnifyMoney.com discusses the site's latest survey, which shows that just 17 percent of investors 'completely trust the stock market.'

Jeff Klingelhofer, co-head of investments at Thornburg Investment Management, says that investors should be nervous and defensive because of the disconnect between the economy and the stock and bond markets, noting that he worries that the Federal Reserve is ill-equipped for fighting unemployment in addition to its traditional role of combating inflation. Despite the worries, Klingelhofer still believes that the domestic market is the best place to invest. Also on the show, Jeff Krumpelman of Mariner Wealth Advisors says he believes the market is headed for a correction, though he believes there is a solid foundation to enable a reasonably quick recovery from any decline. Also on the show, Ken Tumin of DepositAccounts.com discusses how consumers are changing their banking habits in the pandemic, and Mike Liss of American Century Value Fund talks relative-value investing in the Market Call.

Ben Hunt of Epsilon Theory says that 'every effective CEO today is a CEO who can tell a story and create a narrative that may or may not have anything to do with real-world performance,' and he says that investors have to cut through those stories to figure out what is real and what is overblown, disconnected from fundamentals and economics. He notes that investors must make up their own minds, rather than falling easily for the stories. Also on the show, James DiChiaro of the BNY Mellon Core Plus Fund talks about generating income in a low-rate environment, David Trainer of New Constructs puts Peloton stock in the 'Danger Zone,' saying it's sky-high valuations are taking investors for a ride, and Catherine Collinson of the Transamerica Center for Retirement Studies discusses recent research showing how retirees are already feeling long-term impacts to their money and mindset due to the coronavirus pandemic.

Jeff Weniger, director of asset allocation at WisdomTree Asset Management, says that investors need to put potential election outcomes into their plans ahead of time, and he notes that the reaction should include how each candidate is likely to respond to the coronavirus pandemic from here. Weniger says, for example, that investors should overweight financial is they expect a Trump victory -- which he does -- and reduce exposure to banks and investment firms if they expect a Biden win. Also on the show, Joe Keefe, president of the Pax World Funds, discusses how social investors should be thinking about their influence in the wake of the wildfires sweeping the West Coast, as well as his expectations for the market through the election, Mark Hamrick of Bankrate.com covers the site's latest survey on Americans' current level of personal financial satisfaction under President Trump, and Daniel Wildermuth of Wildermuth Wealth talks about the benefits of investing like an endowment within a fund structure that forc

Abhay Deshpande, chief investment officer at Centerstone Investors, says that the market's February-March swoon created the best situation that value investors had seen since the financial crisis of 2008, and that the recent rebound back to record-high ranges hasn't diminished the value prospects for a lot of businesses. Deshpande says that 2020 by the numbers -- rather than the events that have caused them and hijacked the headlines -- is reasonably close to what he might have expected at the start of the year. Also on the show, Tom Lydon of ETFTrends.com picks a brand new fund with ties to the Nasdaq Compiste Index as his 'ETF of the Week,' Matt Schulz of CompareCards.com discusses the impact that a $500 debt repayment will have on the average credit score, and Eric Heyman of the Olstein Strategic Opportunities fund makes his debut talking stocks in the Market Call.

Simeon Hyman, global investment strategist for ProShares, says that while investors have focused on technology and health-care stocks during the pandemic, the pet-care industry has been thriving, buoyed not only by increased demand but by the consistent way in which pet owners spend on their pets. The ProShares Pet Care ETF is up nearly 30 percent this year and Hyman said that steady gains and growth will be the real, long-term story of the fund. Also on the show, author Dawn Starks talks about 'Simplify Your Financial Life,' her book that has over 100 tips to help people take better control of their money and time, and Francisco Bido of Integrated Alpha and the F/m  Large-Cap Focused Fund talks the art and science of his mostly quantitative approach in the Market Call.

Technical analyst Katie Stockton, founder of Fairlead Strategies, says that the stock market's winter swoon may have set it up for the current recovery and helped it avoid a bubble, but she warns that her outlook for the market in the short run is negative. The decline she sees coming, however, should prove to be a buying opportunity, because her long-term market expectation is positive and bullish, meaning that investors should be rewarded for buying into the trouble ahead. Also on the show, Rance Masheck of iVest Plus talks about the new wave of traders and whether conditions are right to lure newbies into the market only to give them a beating, Ted Rossman of Bankrate.com discusses home improvements and how people who need them mid-pandemic are paying for them during times when money is tight, and Leah Bennett of Westwood Wealth Management talks bottoms-up stock-picking and large-cap companies in the Market Call.

Martin Leclerc, chief investment officer at Barrack Yard Advisors, says in the Money Life Market Call that the stock market is currently poised to disappoint investors 'for at least a decade if not longer,' yet despite risk levels that he compares to past market meltdowns like 2008 and 1929 there are still some values worth buying for the long haul. Also on the show, Marc Zeitoun of Columbia Threadneedle on the ways exchange-traded funds are changing and how it affects the way investors use them, David Trainer puts Snap Inc. in the 'Danger Zone,' and Jacob Golstein -- best known for his work on the Planet Money podcast -- discusses his book, 'Money: The True Story of a Made-Up Thing.'

Jason Wilson, manager of the ETFMG Alternative Harvest fund (ticker MJ) says that investors who believe that the investment opportunity in legalized marijuana is from pot shops and people smoking dope are missing the much broader uses of cannabis and its potential in pharmaceuticals and biotech business and more. While the small names have attracted attention of risk takers, he says sticking with established companies -- and looking at supportive businesses -- is a way to reduce the Wild West elements of the industry. Also on the show, Dave Lamb, head of closed-end funds for Nuveen talks about how municipal bonds have rebounded sharply but haven't recovered pre-pandemic highs -- unlike investment-grade corporates -- making them attractive now, Davis Martin of The SPY Trade of the Day discusses how the market's movements are being dictated by moving averages, and David Norris, head of US credit at TwentyFour Asset Management covers the credit business and how it has responded to the lower-for-longer interest-r

Richard Peterson of MarketPsych Data says that most of the economy is not doing well as a result of the global pandemic, which has fostered two different markets, the one made up of companies profiting from the conditions and benefitting from consumer habits that are likely to be permanently changed, and then the market of companies hoping for a comeback or return to normal that may not be enough, ever, to bring them back. Peterson worries about where investors are with their thinking, noting that there is a fatigue driven by bad news and the election that also has the potential to slow the recovery. Also on the show, Tom Lydon of ETFTrends.com discusses a fund that's not yet in buying territory but that appears to be headed there as the country it focuses on starts to climb out of its deep coronavirus troubles, Ross Hambrick of William Blair and Co. provides his pre-election primer on how and why Americans' November choice will move the market, and Ryan Jacob of the Jacob Funds talks tech stocks in the Marke

Harry Dent Jr. of Dent Research, editor of the "Economy and Markets' newsletter, says he believes the worst crash of our lifetime started in February and that it will last to the end of 2022, driven by the Federal Reserve Bank 'losing control' early in 2021. He notes that the only markets that have returned to record highs are measured by the biggest domestic indexes, with every other measure below record highs and not ready to re-touch them soon. 'We really peaked in February, we had this first crash and [the Fed] stimulated their way out of that," Dent says, 'but each stimulus has to be stronger and I think they lose control ... in the first or second quarter of next year, just when most economists, most politicians, most business people and everyone I know thinks we will finally beat the virus and come out of it.' Also on the show, author Juliet Schor discusses her latest book, 'After the Gig: How the Sharing Economy Got Hijacked and How to Win It Back,' and Eric Shoenstein, lead portfolio manager for the