Money Life With Chuck Jaffe Daily Podcast

Karl Mills, president of Jurika, Mills and Keifer, says that investors should be looking for current market imbalances, watching for the shift that lies ahead, which will move them from growth to value stocks, from domestic to international markets, from large-cap to small-cap issues and more to stay ahead of changing winds that will make it harder for the market's recent success stories to keep going strong. Also on the show, Sean Cox of Gainbridge discusses how the firm is not only changing the way consumers buy and think about annuity products, but changing Money Life as the show's newest sponsor, Ted Rossman of CreditCards.com discusses the current state of retail store credit cards (think high interest rates and bad enticements), and John Cole Scott, chief investment officer at Closed-End Fund Advisors discusses business-development companies, their prospects into 2022 and building a portfolio with them, including four BDCs he thinks are good buying opportunities despite varying distribution rates, disco

Freddy Garcia, vice president of Investments for Left Brain Wealth Management, says that investors who hire advisers to help manage their money need to get appropriate help picking and selecting stocks, bonds and mutual funds, rather than simply following cookie-cutter programs. Garcia says that many advisers provide 'planning,' without doing high-conviction investment selections, ultimately leading to a time when clients are unhappy because their broad financial plan isn't meeting their return expectations. Also on the show, Tom Lydon of ETFTrends.com highlights an equal-weighted index fund as his ETF of the Week, Ed Slott of IRAhelp.com helps Chuck answer a listener's question, and we revisit a recent chat with Herb Greenberg, senior editor of Empire Financial Research.

After two days lost to power outage at Chuck's studio, the show returns with John Petrides, portfolio manager at Tocqueville Asset Management, reminding investors to keep their eyes on the prize for their ultimate goals and not let volatility and downturns shake them out of the market, turning paper losses into real pain. Petrides says his team has been in a buy-the-dip mentality since the start of the pandemic and that hasn't changed as the recovery has played out, particularly because the alternatives to stock investments are unattractive right now. Also on the show, Sri Reddy of Principal Financial Group discusses the habits that successful savers have exhibited during the pandemic, Ed Slott of IRAhelp.com helps Chuck answer a listener's tax question, and we revisit a recent chat with Michael Kelly of Pinebridge Investments.

Two very different interviews come to the same kind of conclusion on today's show, with Brian Levitt, global market strategist at Invesco, noting that inflation and other concerns aren't hurting corporate profits, and those strong profits are helping to improve valuations, setting up the market's next solid move upward, and Avi Gilburt of the Elliott Wave Trader saying he expects the Standard and Poor's 500 to move to nearly 5,000 before a pullback that sets up a big move that should get the index to the 6,000 range by the beginning of 2023. Also on the show, Greg McBride of BanRate.com talks about some good news -- mixed in with the usual bad -- in the site's annual survey on banking fees, ATM expenses, overdraft charges and more, and Gabriela Herculano, chief executive officer at iClima Earth, discusses emissions-free ESG investing in the Market Call. 

Bill Schultheis, author of the landmark financial book 'The CoffeeHouse Investor,' discusses how the simple rules of his popular effort -- involving diversification, minimizing costs and saving hard -- remain the key to success in a world caught up in meme stocks, cryptocurrencies and other shiny, sparkly financial products. Schultheis talks about how investors can stay simple yet successful now. In other interviews today: David Trainer of New Constructs puts the Rivian IPO in the Danger Zone, noting that the electric vehicle's expected market valuation is more than six times higher than a level he considers realistic-but-optimistic,  Alison Carnie talks about an Edward Jones, survey showing that people know the importance of end-of-life planning but that doesn't mean they're doing it, and author Jonathan Hillman discusses 'The Digital Silk Road: China's Quest to Wire the World and Win the Future.'

Frank Holmes, chief executive at U.S. Global Investors, says that the big trade he's making now involves gold, which he says are cheap relative to technology stocks, which are raising dividends and which are poised for a big mean-reversion snap-back. Holmes -- who also is chairman at Hive Blockchain -- also discusses crypto currencies, the new bitcoin-related ETF, the broad market and more. Also on the show: Larry Holzenthaler of Nuveen discusses why investors should diversify income-producing holdings to include floating-rate loans, which he says offer equal returns to high-yield bonds but with less risk. Buck Klintworth of Chase Investment Counsel gives his technical outlook, which he overlays on the reasonable fundamental picture he sees right now, and John Barr, portfolio manager of the Needham Growth and Aggressive Growth funds talks stocks in the Market Call.

Tom Lydon, chief executive officer at ETFTrends.com, says that the ProShares Bitcoin Strategy ETF launched this week will be one of the biggest new ETF launches of all time and is worth the hype, even though the fund is built around bitcoin futures rather than tied directly to the cryptocurrency. Lydon explains how the new fund works and the prospects for new and different crypto funds coming out of the registration pipeline soon. Also on the show, author Becky Hall discusses 'The Art of Enough' and building a balanced life, LendingTree's chief credit analyst, Matt Schulz, discusses their latest take on retail credit cards and why consumers will sign up for less of them this year and what they will do instead, and Darren Chervitz, manager, of the Jacob Discovery Fund, talks bottoms-up, growth-oriented stock-picking in the Market Call.

Marshall Stocker, co-director of the emerging market team for Eaton Vance Management, says that in the face of global inflation and a waning pandemic, emerging markets countries are addressing issues in a more conventional or orthodox manner than developed countries, which he sees as bullish as it should help those countries to sidestep the fallout from a decade of zero-rate policies from the last decade. It has emerging markets, Stocker says, looking much more like a traditional asset class and less like a volatile new frontier than ever before. In another Big Interview, Gregg Fisher, portfolio manager, Quent Capital discusses global small-cap investing and the growing opportunities he sees in nascent companies. There are also two different surveys discussed on today's show, first with Eric Wagatha, head of consumer life for GfK discussing how Americans are putting off major life decisions post-pandemic, and then with Michelle Delgado of Clever Real Estate on how the housing market is so hot that even haunte

Willie Delwiche, investment strategist for All Star Charts, says that the messy, sloppy range-bound market that we've seen since February is going to continue sideways for a while but ultimately will resolve itself to the upside, confirming a consolidation that is healthy for the long term. Delwiche believes the next rally will be led by different types of stocks -- financials instead of tech stocks, mid- and small-caps instead of large-caps -- plus commodities and more. Also on the show, Amy Arnott of Morningstar discusses the firm's annual 'Mind the Gap' research showing how badly investors perform relative to the mutual funds they are buying, John Cole Scott of Closed-End Fund Advisors helps Chuck answer some questions that dig into the inside baseball of closed-end investing, and Ed Slott of IRAhelp.com gives his tax tips on moves investors might want to make before the year ends.

Jared Bibler, author of 'Iceland's Secret: The Untold Story of the World's Biggest Con' discusses the collapse of the frontier market's economy and market in 2008, a chapter in financial history largely unnoticed in the US because America was going through its own financial crisis, caused by the collapse of Lehman Brothers. Bibler notes that the three Icelandic banks that imploded at that time were -- to the small country's economy -- ' the size of 300 Lehman Brothers' representing about 90 percent of Iceland's stock market as a result of stock buy-backs that are similar-yet-different to the ones Americans see happening domestically every day. Also on the show, Ted Pulsifer discusses a Piplsay.com study on how buy-now/pay-later programs are becoming increasingly popular, which may also be making them financially hazardous, investment analyst Kyle Guske of New Constructs puts a mutual fund in 'the Danger Zone," and Chuck discusses the latest twist in his annual 'Cash or candy' Halloween experiment.

Market strategist Larry McDonald, creator of The Bear Traps Report, says that with inflation holding at a higher trajectory than the last 10 years, investors need to move away from growth stocks and head towards commodities and hard-asset companies plus value stocks moving forward. In another Big Interview segment, real estate expert Brian Icenhower of Icenhower Coaching and Consulting says the nation isn't facing a housing bubble -- which will burst and dissipate -- so much as a housing crisis, that will dramatically impact home prices for the foreseeable future. Also on the show, investment strategist Matt Harris of Aperture Research Partners talks technical analysis and the current range-bound market, and Sam Brothwell of Energy Income Partners discusses energy infrastructure investing and why renewable energy doesn't make legacy energy stocks a bad investment.

Veteran journalist and market observer Herb Greenberg -- now senior editor at Empire Financial Research -- says that investors have a distorted view about returns, fueled by the market's post-pandemic rise, that has resulted in a loss of selling discipline. 'Everybody thinks they are entitled to these gazillion percent returns,' he says, and they have lost sight of what it means to have a 'good investment.' As a result, he fears that 'A lot of people will learn a very hard lesson who probably can't afford to learn that lesson.' Also on the show, Tom Lydon, of ETFTrends.com names an entire suite of funds that are built to give investors more control his 'ETF of the Week,' and Gary Black of The Future Fund Active ETF talks Tesla and other game-changing stocks in the Market Call.

Giles Coghlan, chief currency analyst at HYCM, says that bond rates have been moving higher because investors expect central banks to raise interest rates as a response to inflation. He worries, however, that the central banks are ill-equipped to combat inflation caused by supply-chain problems rather than inflation as an offshoot of a normal economic cycle. That could create stagflation, a situation when inflation is high while growth is low, which would be bad for the global economy. Also on the show, Noland Langford, chief executive officer at Left Brain Investment Research talks about energy as an income play and identifies a stock, bond, preferred stock and ETF worthy of consideration, Chance Finucane of Oxbow Advisors discusses stocks in the Market Call, and Chuck pays tribute to his friend -- and our guest at the end of every quarter -- Michael Falk.

Warren Pierson, deputy chief investment officer for the Baird Funds, says that while the Federal Reserve initially suggested that 'transitory' inflation would be here for a matter of months, it's now a much longer definition as the pace of recovery is slower than expected. Still, Pierson says that inflation will abate and eventually give the Fed what it has been hoping for, a level slightly north of 2 percent. Pierson also gives his outlook for fixed income -- covering virtually every bond type from mortgage-backed securities to junk bonds -- in a wide-ranging chat. In the Book Interview, author Eswar Prasad discusses 'The Future of Money,' and his expectation that the world will become a cashless society sooner than later, but not necessarily in ways that cryptocurrency experts expect. Also on the show, Jill Gonzalez of WalletHub.com talks about a survey showing that more than 40 percent of consumers would pay more for flights and/or hotels that only allowed customers vaccinated against Covid-19, and John Co

Michael Kelly, global head of multi-asset at PineBridge Investments, says that the global economic recovery has changed its shape -- going from the V-recovery that many people hoped for -- to something more gradual but longer-lasting, largely following the path of vaccination around the world. Kelly also discusses how he is responding to the challenges of a low-yield/rising-inflation fixed-income market. Also on the show, David Trainer of New Constructs identifies five companies that he expects to have big misses in the upcoming earnings season, Doug Milnes, head of data analysis at MoneyGeek.com, discusses some of the dichotomies between consumer optimism and behavior, and top-down investor/trader Leon Wilfan talks stocks in the Market Call.

Everett Millman, precious metals specialist at Gainesville Coins, says that while investors traditionally turn to gold to act as a hedge against inflation, precious metals haven't been as good of a hedge as stocks and other assets. Millman says the market seems to be buying the narrative that inflation is transitory, noting that money has been flowing out of precious metals at a time when most people would expect demand to be high; it has also limited gold's effectiveness in these inflationary, rising-rate times. In The NAVigator segment, Eric Chadwick, president at Flaherty & Crumrine, says that preferred securities are the 'sweet spot' in this market, offering relatively attractive yields without adding significant risk to a portfolio. Also on the show, Catherine Golladay discusses how workers are more stressed about their finances now, but also more optimistic that they are moving in the right directions, and the Market Call is a rebroadcast of a recent chat with Nancy Tengler, chief investment strateg

Historian Kyle Harper, author of 'Plagues Upon the Earth; Disease and the Course of Human History,' says in the Book Interview today that the coronavirus is just the latest worldwide disease phenomenon and that those past events have spurred positives like developments and negatives like inequality. He discusses the outcomes from history and how current events will impact society and the markets for years. Also on the show, Tom Lydon of ETFTrends.com makes a brand new fund with an eye on frontier markets his ETF of the Week, Bruce Monrad of Northeast Investors Trust talks the bond market and the hunt for yield in a rising rate/inflation market, and Chuck answers a listener's question about dividend investing.

Joseph Brusuelas, chief economist at RSM, says that the economy has turned the corner from recovery to expansion, and says that concerns over slowing growth miss the point that growth rates will continue to be well above historic rates. Brusuelas says that the Delta variant and its ability to disrupt global supply chains remains the biggest worry for the global economy moving forward, but he notes that he expects talk of inflation and supply chain issues to subside by early 2022; meanwhile, he expects the economy to be growing at a 5 percent clip in the second half of the year, more than double historic norms, meaning that any slowdown is mostly about changing the shape and duration of the rebound, not ending it. Also on the show, Ryan Kelley, chief investment officer at the Hennessy Funds, talks about investing in the utilities and energy sector at a time when prices have been popping as demand rebounds, and Chuck talks about determining who you can trust for your financial advice.

Chris Vermeulen, chief market strategist for The Technical Traders, says the market's frothy September has pushed it to where he's headed for cash, at least for the short term, avoiding what he thinks will be a short downturn leading into a sideways market and ultimately a buying opportunity, as he expects the market to rebound into a strong bull run that could last six to eight months. At that point, however, Vermeulen says the market's years-long rally could be running out of steam and on its last legs. Also on the show, David Meyer, president of the Public Investors Advocate Bar Association talks about why consumers are never paid in 30 percent of the arbitration victories against rogue brokers, Washington Post columnist Allan Sloan discusses the debt-ceiling debate's negative impact on the bond market and borrowing -- even if it ultimately gets passed -- and Chuck answers listener questions about gold and bitcoin, and selling stocks.

Syed Ejaz, financial policy analyst for Consumer Reports, joins Chuck to talk about the magazine's report released last week which showed that popular apps providing access to credit scores may not offer all of the benefits users expect and come burdened with hidden costs. Ejaz says that, aside from some measure of convenience, consumers would mostly be better off keeping tabs on their credit reports and credit scores on their own. Also on the show, author Dorie Clark, talks about 'The Long Game: How to Be a Long-Term Thinker in a Short-Term World,' David Trainer of New Constructs says a very hot stock is headed for trouble and belongs in the Danger Zone, and Justin Carbonneau, vice president and partner at Validea.com and Validea Capital Management, talks stocks in the Money Life Market Call.