Money Life With Chuck Jaffe Daily Podcast

Tim Clift, chief investment strategist at Envestnet, says that even the current downturn -- as big as it has been and could grow to -- ultimately will become a blip on an investor's radar, which is why it's important to hold fast to financial plans and not make nervous moves that alter asset allocation, typically at just the wrong time. Empirically, Clift says he has not seen individual investors getting panicky, though he notes that a prolonged slowdown and a market drop could change behaviors for the worse. Also on the show, Tom Lydon of ETFTrends.com makes a new ETF with an unusual strategy his 'ETF of the Week,' Ande Frazier of myWorth talks financial priorities when money gets tight, and Art Amador of the AI Powered Equity ETF talks investments selected using artificial intelligence in the Market Call 

Howard Silverblatt of SP Dow Jones Indexes says that after a record first quarter for dividend payouts -- in which $127 billion in distributions were made -- income-producing stocks have seen a dramatically changed landscape as the COVID-19 pandemic took hold. As precautions ramped up, 13 companies cut or suspended dividend payments that would have totaled roughly $14 billion in March. That trend of dividend reductions and shutdowns is just beginning, Silverblatt says, noting that investors should expect reduced payouts and that stock buybacks will be rare for the foreseeable future. Also on the show, author Gerald Posner talks about the pharmaceuticals industry and its changing future when the viral economy subsides, former SEC director Norm Champ talks about how individuals can better ride out the chaos of the crumbling economy, and Chuck answers an audience member's question about a popular fund whose manager was recently on the show as a guest.

Warren Pierson, deputy chief investment officer at the Baird Funds, said that while the worst dislocation of the viral economy is now starting to wind down, the uncertainty ahead will shape and potentially surprise the bond market, as credit downgrades, low interest rates and more play out for at least the rest of the year as a recovery struggles to to gain a foothold. Also on the show, Preston Caldwell from Morningstar Inc. discusses the firm's best, worst and current forecasts for the economic outcomes from the COVID-19 pandemic, Chuck answers an audience question about deciding which securities to sell in order to raise cash now, and Don Rich from the Esoterica NextG Economy ETF talks stocks in the Market Call.

Rusty Vanneman, chiefinvestment officer at Orion Advisor Technology, says that if your asset allocation and investment plan were appropriate prior to the global pandemic, they remain appropriate and proper today, meaning that most investors should not be changing their holdings much in the middle of current troubles, even as they look for opportunities going forward. Vanneman believes that there will be superior economic growth when the viral economy ends, which should lead to value stocks and small-cap stocks -- two areas that were lagging the market pre-crisis -- becoming leaders. Also on the show, Ken Simonson discusses results from the latest National Association of Business Economics survey, where wide-ranging results show how hard the current situation is to analyze, Phil Haslett of EquityZen discusses the initial-public offering and pre-IPO markets, and David Trainer of New Constructs says that certain research efforts are undermined by the economic shut-down, creating problem areas for investors who r

Angus Deaton of Princeton University -- winner of the 2015 Nobel Prize for Economics -- discusses rising trends in 'deaths of despair' -- from suicide, overdose and addiction -- and how capitalism must change to stem the tide, but also how the health care system must change coming out of the viral economy to face new and different challenges ahead. Also on the show, Andrew Foster of Seafarer Capital discusses emerging markets and whether coming out of the virus cycle early will create any advantages for them, Jerremy Newsom of Real Life Trading discusses the market's technical indicators, and John Cole Scott of Closed-End Fund Advisors and the Active Investment Company Alliance chats about discounts and offers several attractive options for bargain hunters to consider now. 

Darrell Cronk, chief investment officer at Wells Fargo Wealth and Investment Management, said that while the stock market is struggling and not yet showing compelling values, he is confident that a rebound is coming globally and that the United states -- and specifically domestic large-cap growth stocks -- will lead the way for investors looking to climb out of the hole put in their portfolio by the market's recent draw down. Also on the show, Jason Brady, chief executive officer at Thornburg Investment Management , suggests that income and dividend investors will need to be cautious during the recovery because income investments will be changed by and reflect current market conditions for the foreseeable future. Also on the show, Tom Lydon of ETFTrends.com makes an intermediate muni-bond fundtime his ETF of the Week, and Mike Brown of LendEDU.com is back to give an update on his site's survey of consumers' financial reaction to the COVID-19.

Nick Niziolek, co-chief investment officer at Calamos Investments, has been watching how China, Korea and emerging markets are recovering from the coronavirus pandemic, and while he is not expecting a snap-back globally, he calls the progress and the speed of the recovery 'encouraging,' and says  he expects to see similar progress domestically as the US moves through the viral cycle. Niziolek notes that the impacts of the virus and the changes it creates int he economy could affect and change the market and specific industries for decades. Also on the show, Francesca Ortegren of Clever Real Estate talks about how the mortgage market changes -- and where consumers stand in their mortgages -- now as compared to the recession of 2008, Chuck answers an audience question about a big dividend-paying stock, and Kathy Boyle of Chapin Hill Advisors talks exchange-traded funds in the Market Call.

Jeff Schulze, investment strategist at ClearBridge Investments, says his company's 'Recession Risk Dashboard' shows that the economy is now fully in recession territory and that it could be the worst recession ever, but he notes that thanks to policy response, it will not become a depression. While he expects recovery to take a little longer than many expect -- just because the market will want to be sure the black swan event of coronavirus has ended before committing to a return to buying -- Schulze says a strong recovery is part of the outlook. Also on the show, Dan Zanger of ChartPattern.com says he's not ready to buy into this market with much conviction, Matt Zajechowski of Digital Third Coast talks taxes and procrastination, and absolute value manager Brian Frank of the resurgent Frank Value Fund talks stocks in the Market Call.

Lindsey Bell, chief investment strategist at Ally Invest, says in the Big Interview that with experts warning about how bad the next few weeks could be from the standpoint of spreading the coronavirus, it leaves investors waiting to see just how deep and how long a resulting recession will be, and what the recovery side of this picture will look like. Despite that cautious talk, Bell notes that when the market drops 30 percent or more, it is presenting a compelling chance to put money to work. Also on the show, Susan Tillery of the American Institute of Certified Public Accountants talks about the emotional impacts of elder fraud, David Trainer of New Constructs warns about exchange-traded funds paying exceptionally high dividends, and Kevin Miller of the E-Valuator Funds talks funds and ETFs in the Market Call.

Jim Welsh, portfolio manager at SmartPortfolios, says that in the standard bear market, there is a 'reflex rally,' which is what he feels the market has been going through for roughly the last week, but that the stock market typically can't hold that rally for long before testing new depths. That's why he believes another significant drop lies ahead --  on that could shave nearly 400 points off the Standard and Poor's 500 -- before the real rally begins. Long-term investors with a five-year or longer horizon should ride the market out, Welsh notes, but short-term monies need to be protected. Also on the show, Robert Michaud from New Frontier Advisors discusses the need to be fully diversified coming through troubling market times, Cheryl Pate of Angel Oak Capital discusses community banking investments in closed-end funds, and Martin Leclerc of Barrack Yard Advisors discusses his disciplined approach to stocks in the Market Call.

Chris Zaccarelli, chief investment officer at the Independent Advisor Alliance, says that the economy and the stock market are poised to improve from current levels -- although he is not yet ready to call the decline a market bottom and won't try to time one -- but he warned that 'better' could be only part way back to 'normal.' He did say the market ultimately will be higher, though he said it's impossible to know if that will happen in a year, two years or further down the road. Also on teh show, Tom Lydon of ETFTrends.com has a choice that could help rebalance risk as his ETF of the Week, Sarah Berger of MagnifyMoney.com discusses the disconnect between retirement savers' hopes and their actions, and Ken Mahoney of Mahoney Asset Management makes his debut in the Market Call.

Ed Shill chief investment officer at QCI Asset Management, says in the Market Call that as the market has moved from overbought in January to dramatically oversold in March, investors should have started looking for opportunities to buy and take small steps to take money off the sidelines and start taking advantage of the bargains. Also on the show, Paula Fleming of the Better Business Bureaus talks about increasingly popular -- and dangerous -- cryptocurrency scams, Bruce Bond of Innovator ETFs discusses defined-outcome investing and how it has held up in the down market, and Mike Brown of LendEDU.com covers Americans' financial condition as they entered the shelter-at-home economy.

Steve Friedman, senior macroeconomist at MacKay Shields, says the global fixed-income picture is such that investors are going to see rates near zero and potentially going negative in the U.S., an unprecedented move that is necessary because 'the economy is coming to a sudden stop,' forcing central bankers to maintain liquidity and income investors to diversify broadly. Before that Big Interview, however, Mark Newton of Newton Advisors says the market's technicals indicate that the market's recent upswing tick is a 'short-term rally within an existing downtrend' meaning another leg down is in the offing, particularly if the market can't rally to and hold 2,792, a key support level on the Standard and Poor's 500. Also on the show, Ted Rossman of CreditCards.com talks about the existing level of credit-card debt faced by Americans entering the coronavirus economy and how that will hold challenges and change behaviors as financial pressures mount, and, in the Market Call, Eric Boughton of Matisse Capital says th

Dan Keady, chief financial planner at TIAA, says that while investors are looking at their retirement savings and thinking they have been devastated, the market ultimately will help them catch up and recover, provided they don't try to get off the market rollercoaster mid-ride hoping to escape market risk right now. Also on the show, Mark Hamrick of Bankrate.com discusses survey results on how many Americans have skipped or done without medical care due to its cost, David Trainer of New Constructs puts high-risk dividend stocks in the Danger Zone, and Brian Bollinger of Simply Safe Dividends tries to help listeners find lower-risk payouts from stocks in the Market Call.

John Blank, chief economist at Zacks Investment Research, says that the market's reaction to the coronavirus public health crisis was foreseeable but overblown, and that strong earnings projections on tap for companies once conditions normalize make a strong rebound look inevitable. He makes the case that the current event-driven recession is not look like the structural recession of 2008, which is why it will be a much shorter event. Also on the show, Thomas Winmill of the Midas Fund discusses how gold has held up, and gives his take on a recent Goldman Sachs' comment urging people to buy gold as the 'currency of last resort,' Buck Klintworth of Chase Investment Counsel talks technicals, Rob Shaker of Shaker Financial covers big discounts in closed-end funds in The NAVigator, and Chuck explains why a fun thing he started with his daughter has the show picking today's theme music from 'The Love Boat.'

Ron Sanchez, chief investment officer at Fiduciary Trust Co. International, says there will be three phases to the virus economy, and that we are still in the first, which is marked as a time with extreme uncertainty and anxiety. In phase 2, which he expects to start in two to four weeks, Schwartz expects to lose the extreme-ness of it all, but for the volatility to remain. Abate says he is waiting for more investment opportunities but that right now it's too late to sell and too early to buy. Also on the show, Tom Lydon of ETFTrends.com announces his ETF of the Week, Paula Fleming of the Better Business Bureaus of New England talks about coronavirus scams, and James Abate of the Centre Funds talks stocks in the Market Call.

Robert Frick, corporate economist at Navy Federal Credit Union, says that while the virus economy is a clear and present danger to the financial well-being of average investors -- and while the media has been stoking the fears of how bad the market and economy could be moving forward -- that the biggest threat most investors face right now is their own temperament and the ability to control their emotions and stay calm. He explains how investors need to use behavioral economics to filter out the noise. Also on the show, Jimmy Hausberg from HighTower Advisors talks about how investors should respond to building internal selling pressures, Gerri Detweiler of NAV.com discusses the new FICO credit-scoring system, and Dan Brady of Trendrating.com talks stocks -- and how few of them are worth buying right now -- in the Market Call.

Mona Mahajan, US investment strategist for Allianz Global Investors, says that the stock market won't stabilize until there is a visible path for a 'global return to normalcy,' but adds that she doesn't think the 'long-term fundamental health of the US economy is derailed' by the worldwide reaction to the coronavirus. As such, she will be looking for values and better risk-reward opportunities for when the worst of the troubles are past. Also on the show, Danielle Shay of SimplerTrading.com talks about the market's technicals, the hard time finding support and the growing number of investors who want to trade, Kathy Kristof of SideHusl.com discusses opportunities till out there for individuals who are looking for work while remaining physically distant, and Nancy Tengler of Laffer Tengler Wealth Management makes her debut in the Market Call talking dividend-oriented stocks.

Meb Faber, head of the Cambria Funds and a noted observer of the investment world, says that while the depth and scope of the current downturn is breathtaking, the best way to deal with it remains being steadfast about your investment plans and changing nothing. Also on the show, Kyle Guske of New Constructs puts two popular brand-name stocks in the Danger Zone, and Dan Wiener, co-editor at The Independent Adviser for Vanguard Investors and chairman at Adviser Investments returns to the Market Call to talk mutual funds and ETFs.

Craig Callahan, president of the ICON Funds, says that the stock market's recent downturn has created the best bargains he has ever seen, better than the darkest days from the 2008 financial crisis or any other downturn he has lived through. He noted that all of the supporting conditions for a true buying opportunity are aligning right now; despite that, Callahan says it's not yet time to buy, though he thinks that time is 'close.' Also on the show, Bryce Rowe of National Securities discusses the double-digit dividends and growing discounts on business-development companies in The NAVigator segment, technical analyst John Kosar from Asbury Research says coronavirus has accelerated a downturn the market was setting up for, making the market oversold, although he was not ready to call for a bottom and will be watching if the market can turn roughly 2,350 on the Standard and Poor's 500 into a real support level; also Erin Kelly, author of 'Overload: How Good Jobs Went Bad and What We Can Do About It.'