Money Life With Chuck Jaffe Daily Podcast

Marko Papic, chief strategist for the Clocktower Group, says that he expects an inflation surprise to the upside -- bigger than the market forecasts -- which is likely to upset the market, adding to volatility and limiting the forward potential for stocks. It has him looking to foreign markets to generate bigger returns for the remainder of the year and potentially beyond. Also on the show, Tom Lydon of ETFTrends.com looks to the potential of blockchain with his ETF of the Week, Jacque Reardon discusses Franklin Templeton's latest Voice of the American Worker study -- which shows that people are redefining what it means to retire -- and in the Market Call, David Marcus of the Evermore Global Value fund talks about where he sees blood running in the streets to find his buys.

Joe Terranova, chief market strategist at Virtus Investment Partners, says that the market's rebound from early-pandemic lows has investors tempted into concentrated portfolios, pursuing the hot sectors and big winners, but he says the remainder of the year will be about risk, and 'reintroducing diversification by asset class, geography, equity size class and strategy.' Terranova says he is optimistic not just for the future but for the next 10 to 15 years, but he says the markets will demand that investors spread their risks around and manage their return expectations to ride it out to those long-term gains. Also on the show, Freddy Garcia of Left Brain Wealth Management says that investors should be focused on sustainable revenue growth -- rather than whether a stock fits the classic growth or value labels -- to find companies that can move forward regardless of market conditions, and Tom Plumb of the Plumb Balanced Fund and the Plumb Equity Fund talks stocks in the Market Call.

John Mousseau, chief executive officer and director of fixed income at Cumberland Advisors, says that worries about rising inflation are overblown given current conditions, and he says investors should expect higher inflation but only to the extent that it returns to pre-pandemic levels over the next year. Also on the show, Francesca Ortegren discusses a recent study done by Clever Real Estate showing how the pandemic continues to damage Americans' finances, Chuck answers a question about Section 72T withdrawals from retirement accounts, and Jason Browne of Alexis Investment Partners talks practical and tactical investing with ETFs in the Market Call. 

Different analysts taking a fundamental and a technical view of the market both think that strong conditions will carry into the second half of 2021, but think returns may be muted compared to the last six months. Rusty Vanneman, chief investment strategist at Orion Portfolio Solutions, says that 'the growth rate of the growth rate' is slowing, which is likely to slow the market or at least make it more choppy. Meanwhile, Jeffrey Bierman of TheoTrade.com says the market is overbought now from a technical standpoint, which eventually should play out in a correction and heightened volatility. Also on the show, John Cole Scott, chief investment officer at Closed-End Fund Advisors and the executive chairman of the Active Investment Company Alliance, talks about the narrowing discounts in closed-end funds but warns investors not to wait for them to widen before buying, and Daniel Kline, lead advisor at 7Investing.com talks stocks in the Market Call.

Meb Faber, chief executive  and chief investment officer for Cambria Investments, says that the U.S. stock market's return to record high levels has given it little room to move forward from here -- with the exception of value stocks, which remain attractive despite a 'face-ripper' of a year -- but he believes that while investors can ride the current trends until they change, he notes that the biggest opportunities are around the world right now.  He notes that most people are too focused on America in their asset allocations, but they now are looking at cheaper names and bigger growth potential abroad. Also on the show, Tom Lydon of ETFTrends.com makes an actively managed financial-sector fund his 'ETF of the Week,' and Chuck Carlson of Horizon Investment Services and The DRIP Investor, talks about the art and science of selecting stocks using his firm's Quadrix system in the Market Call.

Michael Falk of Focus Consulting Group -- who joins Chuck every three months to discuss the market, investing and his personal battle with Lou Gehrig's Disease -- responds to fears of rising inflation and interest rates, whether that changes his disdain for bonds, but also talks baseball, how the pandemic was a stroke of good fortune for him and much more. Also on the show,  Michael Dominguez, author of 'Armchair Real Estate Millionaire' discusses how the pandemic and the hot housing market have changed things for income-oriented property buyers, and Marina Gross of  Natixis' Portfolio Research and Consulting Group talks about how financial advisers are bridging the gap between their own realistic market expectations and the wild hopes of clients/individual investors.

Wayne Wicker, chief investment officer for Vantagepoint Investment Advisors and ICMA Retirement Corp., says that despite concerns about inflation and interest rates creeping up  that have dampened market enthusiasm, he expects that 'the combined effects of better GDP and better margins are going to be good for equities over the next 12 months.'  He discusses the sectors and areas that he expects to lead the way higher and those he wants to avoid in The Big Interview. Also on the show, Chuck discusses his feelings about cost-to-yield on dividend-paying stocks, Ted Rossman talk about a Bankrate.com study on how much investors saved from remote work during the pandemic and how much they could suffer financially from the return to normal, and Gary Bradshaw, co-manager of Hodges Blue Chip Equity Income, covers stocks that he believes will be consistent performers in the Market Call.

Dave King, head of income and growth strategies for Columbia Threadneedle Investments, says that income-oriented investors should be revisiting a popular old strategy -- the Dogs of the Dow -- buying the highest-yielding stocks of the benchmark index. The strategy has fallen out of favor in recent years, while value investing has struggled, King says, but now is a good time to look for more yield out of large-cap stocks. Also on the show, David Goodsell of the Natixis Investment Managers' Center for Investor Insight discusses survey data showing that average American investors are expecting historically high returns from stocks -- above 17 percent before inflation -- for the year ahead, David Trainer of New Constructs talks about an accounting problem that misstates the financial condition of many companies and, in the Market Call, Brian Frank of the Frank Value Fund talks 'absolute value' and whether the current market leaves any stocks that meet his tough valuation standards.

John Kosar, chief market strategist for Asbury Research, says that the market is overextended as measured by a number of technical indicators, but breakouts visible this week in technology sectors suggest that there is meaningful ground to be made now, as much as 10 percent in tech stocks and sectors in short order. Also on the show, Rob Shaker of Shaker Financial Services discusses the state of closed-end fund discounts, and how current conditions appear to be a repeat of what the industry saw after the financial crisis of 2008, Byron Reese discusses his new book, 'Wasted: How We Squander Time, Money, and Natural Resources-and What We Can Do About It,' and Daniel Kern, chief investment officer at TFC Financial Management, talks funds and ETFs in the Market Call. 

Jeffrey Kleintop, chief global market strategist for Charles Schwab and Co., says that the stock market is likely to have an inverse reaction to economic news, with bad news being greeted happily because it could prompt the Federal Reserve to unwind controls more slowly, whereas positive developments may be viewed as inflationary. These attitudes could lead to heightened volatility for the remainder of the year. Also on the show, Tom Lydon of ETFTrends.com makes a real-asset play his ETF of the Week, Greg McBride of Bankrate.com discusses how investors currently and implausibly favor real estate and cash over stocks as a long-term investment, and Sam Hendel of Easterly Investment Partners talks about value investing in the Market Call.

More than nine in 10 retirees now agree that having a purpose -- and typically a purpose that revolves around family, but also on staying fit and active and possibly semi-employed -- is a key to a successful retirement, with the focus on purpose seemingly coming out of the slowdown and malaise of the pandemic. Scott Thoma from Edward Jones discusses those results from a recent survey, and how the pandemic has made people reset, reconsider and reprioritize their retirement plans. Also on the show, Brian Dress of Left Brain Investment Research examines Revolve Group, an online retailer with growth prospects beyond the reopening that make it an ideal recovery play, Ray Kennedy of Hotchkis and Wiley talks high yield investing specifically and fixed-income more broadly, and Randy Warren of Warren Financial mixes fundamentals, with top-down analysis and some technicals to select stocks in the Market Call.

Peter Chiappinelli, portfolio strategist at GMO Asset Management, says that the market is showing similarities to 1999, which proved to be a great market opportunity that ended in a bear market. Chiappinelli says that every bubble has expensive stocks, but also some wild speculators -- people he calls 'the crazies' -- who are wildly speculative and bullish. They arrived about a year ago, Chiappinelli says, and it's a sign that the market rally has reached its final stages. Also on the show, Gene Peroni of Peroni Portfolio Advisors talks about why technicals show signs of a sideways, range-bound market for the summer, Josh Cohen, head of institutional defined contribution for PGIM, discusses the current status and future of retirement savings programs, and Chuck answers a question about short squeezes and whether investors should jump into them.

Simeon Hyman, global investment strategist for ProShares, says that the ongoing spike in inflation will force bonds into a brief tailspin, but won't do much to damage equity markets, which he says are trending 'a little toward Goldilocks.' Also on the show, Catherine Yoshimoto of FTSE Russell talks about the upcoming, 33rd annual 'Russell Reconstitution,' and how it reflects broad changes in the market, Kyle Guske of New Constructs puts a Chinese IPO in 'The Danger Zone,' and Mark Yusko, chief investment officer at Morgan Creek Asset Management, talks about current investment themes and exchange-traded funds in the Market Call. 

Eddy Vataru, portfolio manager for the Osterweis Total Return Fund, says that with the Federal Reserve acknowledging this week that higher rates are coming -- even if it's not for 18 months -- and working to manage inflation, it's clear that the central bank is starting to change its tune on stimulus and quantitative easing to avoid future problems. He notes that up to now, the Fed has been playing with 'the same playbook' it has used in past downturns and crises, but that the current situation involves a faster snap-back and recovery period, and that the Fed's playbook has been amped up by aggressive stimulus, which he says needs to change to avoid future market problems. Also on the show, Howard Dvorkin, chairman of Debt.com, talks about how people can make the most of Amazon Prime Days next week without letting the urge to splurge get the best of them, Daniel Ashcraft of Gateway Investment Advisers talks about using covered-call strategies to get more consistent results during times of heightened volatilit

Doug Roberts, chief investment strategist for the Channel Capital Research Institute, says in the Big Interview that the Federal Reserve has made its plans clear, and that is that rates and inflation will rise in the next year or two, but they stopped short of any action that would make nervous investors leave the market now. He suggested that investors should stand pat with well-balanced, diversified portfolios as they wait for the paths of rates and inflation to become more clear. Also on the show, Tom Lydon of TFTrends.com makes a unique precious metals fund his 'ETF of the Week,' Ted Rossman of CreditCards.com discusses how Americans are preparing to overextend themselves, raising credit card balances in the process as they unleash their unfulfilled desires of the last 16 months. In the Market Call, James Abate of the Centre Funds -- portfolio manager of Centre American Select Equity (DHAMX) -- talks stocks.

Scott Wren, senior global market strategist at the Wells Fargo Investment Institute says that the big question dogging the market right now is whether the recent spike in inflation is transitory or longer lasting. He sees inflation staying high for most of the rest of 2021 before normalizing, meaning that the market's growth in 2022 is not likely to be curtailed by rising prices. Also on the show, Brian Gahsman of the AlphaCentric Robotics and Automation Fund talks stocks in the Market Call, and Chuck discusses this week's column, where he gives you three reasons for optimism and three more for pessimism given current market conditions.

Duane McAllister, portfolio manager for the Baird Funds, says that the Federal Reserve is likely to sustain its inflation projections but says that he doesn't expect interest rates to spike as inflation goes up, citing strong international demand and other factors as keeping rates in check. Also on the show, Jim Welsh of Smart Portfolios talks technical analysis, noting that he sees the market taking a 7 to 10 percent downturn over the next few months before proving that drop to be a buying opportunity based on a rebound in the fourth quarter, Jill Gonzalez of WalletHub.com discusses how coronavirus changed Americans' habits with rewards credit cards, and Oliver Pursche of Wealthspire talks exchange-traded funds in the Market Call.

Peter Berezin, chief global strategist and director of research at BCA Research, discusses the "Crypto Impossibility Theorem' -- which states that cryptocurrencies will only be viable if they can offer a higher return than stocks, and why he believes that won't happen, and will lead to struggles that distract the market and slow appreciation. In the long run, he expects interest in cryptocurrencies to diminish and the market to benefit as a result. Also on the show, Mike Brown of Expertise.com discusses the high percentage of consumers who bought insurance policies during the pandemic but now wish they hadn't made the purchase, Kyle Guske of New Constructs highlights the problems inherent to 'street earnings' in The Danger Zone, and Chuck answers an audience member's question about bond investments in a rising-rate environment.

Gargi Chaudhuri, head of investment strategy for iShares, Americas says that while the reopening is driving growth right now, she expects capital expenditure and infrastructure spending to keep the economy rolling into and through 2022. She also notes that while the pandemic shutdown was a global event, the reopening is happening in pockets which will mean that different regions -- and industries -- will be coming back and gaining steam at different times, which should prolong the global recovery, although she notes that central bankers will have to act prudently to keep the underlying conditions primed for growth. Turning to technical analysis, Dan Zanger of ChartPattern.com sees nothing but bullish patterns and a breakout to new highs ahead, saying he expects the market to roll into the early summer before taking a breather come late July and August; even that respite, he said, will not stop the upward momentum. Also on the show, Bob Long, chief executive officer at Conversus, discusses how 'tender funds' c

Talley Leger, senior investment strategist at Invesco, recognizes the various tunes the market is humming over inflation, interest rates and other concerns, but he looks at earnings growth and valuations and is singing a different tune, Frank Sinatra's 'The Best is Yet to Come.' He explains why in the Big Interview. Also on the show, Tom Lydon of ETFTrends.com makes a fund based on a famous investment guru's strategy his 'ETF of the Week," Meredith Stoddard, vice president of life event planning at Fidelity Investments, discusses research on the financial, emotional, social and physical tolls that caregivers endure as they help their loved ones, and we revisit a recent Market Call interview talking exchange-traded funds with Chuck Self from iSectors.com