Money Life With Chuck Jaffe Daily Podcast

Behavioral finance expert Meir Statman, a professor at Santa Clara University, said that investors have become smarter about investing -- and have settled for capturing market returns rather than trying to beat the market -- and that staying smart requires shrugging off whatever the market dishes up and letting 'doing nothing' be a solid strategy for not being poor and hopefully for reaching a goal of being rich. Also on the show, Morgen Henderson of Choice Mutual discusses how finances are affecting people's final-resting choices, we revisit a recent discussion about risk with Adam Thurgood of HighTower Advisors, and Yuri Lobynstev of Cindicator Capital talks stocks, earnings and trading in the Market Call.

John Thompson, chief investment officer at Vilas Capital Management, said in the Market Call that he is expecting a huge reversion to the mean coming for value stocks, which is a big change because value 'has lagged the market almost every year since 2005.' Thompson said investors who have been patient with value stocks as they have lagged are likely to get paid off for their patience in the year ahead. Also on the show, Joe Keefe, head of the Pax World Funds talks about social investing in current markets, David Trainer of New Constructs reviews his best 'Danger Zone' selections from 2019, and Amanda Dixon from BankRate.com discusses her site's latest survey. 

Long-time Wall Street observer Marc Chaikin of Chaikin Analytics says the stock market is entering what he calls 'blue-sky territory,' a point near the end of a bull market with no signs of recession on the horizon and no resistance to stop a run and make investors unhappy. While it won't last forever, Chaikin says investors can profit by shifting away from defensive stocks, noting that technology, health care and financials are the places to be this year. Also on the show, Jim Welsh of Smart Portfolios says the market's technicals mostly continue to support the ongoing uptrend, John Cole Scott of Closed-End Fund Advisors answers audience questions in The NAVigator, and Thomas Kirchner of the Camelot Event-Driven Fund talks about companies going through mergers in the Market Call. 

Abhay Deshpande, chief investment officer at Centerstone Investors, says that the market and economy are set up for Europe to provide better returns than America, but he notes that the conditions for a major decline in the U.S. don't exist. Moreover, economic advancements make it less likely that investors will see a shocking, massive downturn in the future. Also on the show, Tom Lydon of ETFTrends.com makes a unique energy fund his 'ETF of the Week,' Chris Gatz of CreditWise talks about the decade resolutions consumers made at the end of 2019, and Chuck discusses the resolution of his recent complaint with Firestone Auto Centers and its financing arm.

Scott Colyer of Advisors Asset Management says that he would continue to avoid fighting with the Fed -- and with foreign central bankers -- which means he believes there will be plenty of opportunities for staying invested and growing a portfolio in 2020, although investors will want to take advantages of sector rotation that will see improved returns from value stocks, a bounce-back among energy companies and a 'generational opportunity' in commodities. Also on the show, Cory Bittner from HighTower Advisors talks about forecasts and how they impact advisory relationships, Terry Jones discusses the latest Investor's Business Daily poll on investor confidence levels, and Jane Edmonson of EQM Indexes discusses brand-name investments in the Market Call.

The best-selling personal-finance author of all time, Robert Kiyosaki of 'Rich Dad, Poor Dad' fame, visits Money Life to discuss his new book out today, 'Who Stole My Pension.' Kiyosaki discusses why he wouldn't invest in stocks, mutual funds or ETFs right now, though he never discloses what he would buy other than 'private investments.' Also on the show, two chats about technical analysis, first with Avi Gilburt of Elliott Wave Trader, who notes that the market is getting into a 'topping region' where he expects a modest pullback. If the market can hold at support levels, he sees green lights for at least half a year, noting he'd be articularly bullish on small-cap stocks. Meanwhile, Dan Zanger of ChartPattern.com is also bullish and says he expects to ride the current trends for at least the first half of the new year. Finally, Ted Rossman of CreditCards,cmo discusses the results of his site's most recent consumer poll.

Barry Ritholtz, chairman of Ritholtz Wealth Management and author of The Big Picture blog makes his first visit to Money Life and talks about the things he likes and dislikes the most about personal finance and investing today, discusses the evolution of index funds and how that invites improper use of them, and his outlook on forecasting and which predictions are worth listening to. Also on the show, David Trainer of New Constructs revisits his Danger Zone picks frmo 2019 and talks about three that didn't work out so well, and Stephen McKee of the No-Load Mutual Fund Selections and Timing newsletter talks momentum-driven mutual fund investing in the Market Cal

It's a day of looking at expectations and then deconstructing them as Chuck chats with Deb Clarke, global head of investment research at Mercer, about the firm's 2020 outlook -- which includes slower growth globally, better opportunities worldwide than in America and more -- and discusses technical analysis with Martin Pring of Pring Research who sees signs suggesting that any troubles ahead in the near term will be buying and trading opportunities because real market troubles appear unlikely in the year ahead. Christian Pittard of Aberdeen Asset Management talks about changes in structure and more that are helping make the closed-end fund market more attractive, before Seth Masters -- best known for a correct market forecast he made with Bernstein Private Wealth Management in 2012 -- looks at the factors and thinking that renders most forecasts weak and meaningless.

Alan Levenson, chief U.S. economist at T. Rowe Price, says that headline events like the impeachment and the conflict in Iran are not going to have much economic impact, but he noted that slowing growth, tighter employment conditions and more will contribute to slower growth during the first half of the year and that they ultimately will lead to a shallow recession down the line, somewhere after 2020. Also on the show, Tom Lydon of ETFTrends.com discusses investing in China amid the current trade concerns, Jill Gonzalez of WalletHub talks about how many Americans overspent their budgets during the holiday season, and Chuck answers a question from an audience member.

Joseph Brusuelas, chief economist at RCM, notes that tensions in the Middle East and how they affect the oil industry and the economy are worth watching, but says that the economy is different from the oil tensions of the 1970s, and is better prepared to deal with the turmoil than in the past. He expects moderate economic growth in 2020, although he notes that Boeing is the most important manufacturing company to the economy and that its recent problems will shave significant growth off the economy in the short term. Also on the show, Russel Kinnel of Morningstar discusses the latest 'Mind the Gap' study showing that investors are doing better relative to the performance of their funds than in the past, Howard Silverblatt discusses dividend results for the Standard and Poor's 500 in 2019, and we revisit a recent chat with David Bahnsen of HighTower Advisors on the intersection of politics and personal finance.

Bob Doll, chief equity strategist at Nuveen, releases his annual list of 10 forecasts for the coming year, noting that he expects economic growth to continue but that it won't be enough to keep stocks humming along. He expects domestic markets to struggle to reach single-digit gains, he prefers the outlook for international stocks, and he believes President Trump will win re-election among his expectations for 2020. Also on the show, two other interviews about expectations, with David Goodsell of Natixis Investment Managers discussing his firm's recent survey of institutional investors about their outlook for the year ahead, plus Greg McBride, chief financial analyst at Bankrate.com gives his forecast for rate levels in the coming year. All that, plus Patrick Healey of Caliber Financial Partners talking stocks in the Market Call. 

Bob Doll chief equity strategist at Nuveen will release his 10 forecasts for the New Year on Tuesday, but first he stops by Money Life to talk with Chuck about his calls from last year and how they turned out in 2019. Meanwhile, Paul Golden of the National Endowment for Financial Education discusses the New Year's resolutions that investors made fort 2020, and Chuck answers an audience question, kind of, in telling us precisely why he won't make a definitive forecast for the stock market in the year ahead. Plus, we revisit a recent conversation with Jim O'Shaughnessy of O'Shaughnessy Asset Management. 

Will in Philadelphia writes Chuck asking for help setting real, meaningful retirement-savings targets as he tries to make sure his New Year's goals and resolutions will make real progress toward a secure future, and Chuck describes four ways to measure retirement preparedness. Also on the show, John Cole Scott of Closed-End Fund Advisors discusses three decades of research on the industry and what it tells him to expect for the future, and we revisit a recent, extended chat with Rob Arnott of Research Affiliates.

Scott Wren, senior global market strategist at the Wells Fargo Investment Institute, said that the Standard and Poor's 500 closed 2019 so strongly that it nearly eclipsed his firm's forecast for where it would be in 2020, squarely in the middle of the 3,200 to 3,300 forecast range. Wren warned that the investment consensus is more optimistic than he and Wells Fargo are, but is expectation is for a relatively flat year with some heightened volatility as the market sorts out pressures from interest rates, politics and more. Also ont he show, Tom Lydon of ETFTrends.com makes a big, classic index fund his 'ETF of the Week," Chuck throws dirt on some funds that died in 2019, and we revisit a recent chat with David Kotok of Cumberland Advisors.

Brad Lamensdorf, editor of the Lamensdorf Market Timing Report and manager of the Ranger Equity Bear ETF, said that market sentiment is completely reversed from a year ago and has risen to dangerous levels where investors are likely to be disappointed in the new year. He expects at least 'extreme volatility' for 2020, likely paired with a 'cleansing pullback' that he said was necessary before the market could move up from its current record levels. Also on the show, Brian Graff of the American Retirement Association discusses the SECURE ACT that goes into law on New Year's Day, the gang from HighTower Advisors revisits questions to ask planners and counselors at the start of the year, and Chuck talks about goal setting for the new year and the next decade.

Chuck -- who spent more than a decade as a guest commentator on Nightly Business Report -- talks about the longest-running business television show, which ran for the final time last Friday, and also finally reveals just what happened when he took his car in for repairs -- and subsequently tried to pay for those repairs and more on the retailer's credit card -- that has had him upset for weeks. We also revisit a recent chat with Sam Stovall, chief market strategist for CFRA Research.

Ed Clissold, chief U.S. strategist for Ned Davis Research, says that the economic, earnings, Federal Reserve and presidential cycles will be the driving and determining forces to the kind of year 2020 can be and on what happens post-election. For now, those cycles continue to favor growth, but Clissold warns of changes that could be ahead down the line. Also on the show, John Cole Scott of Closed-End Fund Advisors and the Active Investment Company Alliance talks about how closed-end funds went from scaring investors a year ago to posting one of their best years in history and discloses what he sees coming in the year ahead, Ande Frazier of myWorth talks about setting new-decade resolutions makes sense this year, and we revisit a recent chat with Mary Ellen Stanek, president of the Baird Funds.

Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, says that while he is optimistic for the new year, he is worried about how much the economy may accelerate, noting that if it picks up speed in the second half of 2020 it will create stress come 2021. It's an environment that he says is good for politics -- which is why he's worried about it during a presidential election year -- but not great for long-term investors who will feel the aftermath. Also on the show, David Kotok of Cumberland Advisors says investors should expect single-digit returns in 2020 with performance charts that don't look anything like what they have seen in 2019. Danielle Shay of SimplerTrading covers the market's technical side between those two Big Interviews and we revisit a recent ETF of the Week chat with Tom Lydon of ETFTrends.com.

Legendary bond fund manager Dan Fuss of Loomis Sayles Bond Fund turns his attention to the year ahead in the second part of his chat with Chuck Jaffe, and he believes the fixed-income market will be benign in 2020, not quite as buoyant as the current year, and he talks about how the Federal Reserve's changing policies about how they disclose information has made the bond market significantly more stable. Also on the show, Matt Harris of HighTower Wealth Management talks technical analysis and how he sees the market showing signs that growth is coming in the new year, Sarah Asebedo of Texas Tech University chats about her research showing that personality traits affect retirement spending, and Eric Marshall of the Hodges Funds covers stocks in the Market Call.

Dan Fuss, legendary long-time manager of the Loomis Sayles Bond Fund, joins Chuck for the first of a two-day Big Interview that starts by looking at what happened to make the bond market remarkably strong during 2019 in the face of rate uncertainty and much more. Also on the show, David Trainer of New Constructs puts two stocks into the Danger Zone, Chuck answers a question about year-end portfolio moves and David Miller of the Catalyst Mutual Funds discusses insider buying and selling as a worthwhile buy-sell signal for stocks in the Market Call.