Money Life With Chuck Jaffe Daily Podcast

Katherine Renfrew of the TIAA-CREF Emerging Markets Debt fund discusses how the bond market in China and around the world is reacting to headlines about trade wars and interest-rate hikes, while Yung-Yu Ma of BMO Wealth Management talks about how today's low-rate, high-volatility market should have investors considering yield-driven alternatives like structured notes and preferred stocks for a small part of their portfolio. Also,Tom Lydon of ETFTrends.com has his 'ETF of the Week' and Michelle Kryger of AIG chats about her firm's newly released survey on how seniors are scammed and exploited by family members and strangers and how you can help aging parent avoid those troubles.

Kristina Hooper, chief global market strategist at Invesco, said that while the domestic market is overpriced relative to historical prices, while international markets are underpriced, a condition which suggests that investors might want to seek more opportunities even as they ride the current long bull market out. Hooper noted that cuts to interest rates will likely determine just how long the market can avoid a real downturn, but she noted that most of the signs remain positive heading into the presidential election year. Also on the show, Rupal Bhansali of Ariel Investments talks about 'non-consensus investing,' the subject of her new book, Jake Falcon and Joe Klein of HighTower Advisors discuss the sector rotation they see coming in the fourth quarter of 2019, and Chuck answers a listener's question about rewards credit cards.

Joe Quinlan of Merrill Lynch and Bank of America Private expects a truce, rather than any 'grand deal' on China, but despite those concerns he believes the market is headed higher so he suggests that investors view downturns as buying opportunities -- 'especially in large-cap, dividend-paying stocks' -- for the foreseeable future. Also on the show, Gene Peroni of Peroni Portfolio Advisors expects the Dow Jones Industrial Average to hit 33,000 before the current market cycle ends, which he says could be 18 to 24 months away. Anne Marie Levin of Key Private Bank discusses her firm's recent study of philanthropy disagreements in wealth families, and we revisit a recent chat with Eddy Vataru of the Osterweis funds.

Omar Aguilar of Charles Schwab Investment Management joins Chuck to talk about BeFi 2019, a new behavioral-finance study which shows that focusing on recent events, being too adverse to losses and more can wreck solid financial plans. Also, Scott Lynn of Masterworks discusses investing in fine art in ways not possible until recently, Sam McBride of New Constructs puts another popular IPO in the Danger Zone, and Chuck revisits a recent interview with Noland Langford of Left Brain Capital Management. 

Neil Hennessy, founder of the Hennessy Funds says the Dow Jones Industrial Average is going to 30,000 'before we have any worries,' making the case that the market is well-positioned to continue its long run of growth with only minimal disruptions. Jurrien Timmer, head of global macro at Fidelity, meanwhile, is focused on those disruptions and the yellow warning signs in the form of the inverted yield curve, money supply growth, the Federal Reserve and trade wars, but he made it clear that 'This is a market I don't want to bet against,' noting that Dow 30,000 could be a 2020 story. Also on the show, Chuck takes a question about investing in Estonia, and Doug Roberts of Channel Capital Research discusses the fallout and next moves from this week's Fed moves.

Josef Schuster, founder of IPOX Schuster -- which tracks the market for initial-public offerings -- said that the IPO market in 2019 has held up, with start-up numbers generally being similar to a year ago and then pushed beyond those levels thanks to the debut of Uber. Also on the show, Tom Lydon of ETFTrends.com discusses palladium with his ETF of the Week, John Sweeney of Figure Technologies chats about how much money Americans are overpaying -- more than $100 billion -- by not playing interest rates properly, and value manager Michael Campagna or Moerus Capital talks stocks around the world in the Market Call.

Allan Sloan, award-winning business columnist for the Washington Post, said that while interest-rate cuts are being talked about as good for the market and the economy, there are long-term negative impacts to protracted periods of low rates, affecting pension plans, Also on the show, Giorgio Caputo of J.O. Hambro Capital Management says that the Federal Reserve is 'helicopter parenting' the market, and it can't protect the public from all evils, Jake Falcon and Joseph Klein from HighTower Advisors discuss the things beyond trade wars that top their current list of concerns, and Dan Mahr of Federated Investors talks quantitative stock investing in the Market Call.

Greg McBride, chief financial analyst at Bankrate.com, said that the Federal Reserve will cut rates again at its meeting that starts today, but he noted that savers who have been doing reasonably well now need to expect to lose ground and consumers who have debts need to aggressively pay them down before there is any long-term bounce back in rates, something he says will happen the next time rates rise. Also on the show, Lou Harvey from DALBAR Inc. discusses a strategy that should help investors stay put, literally, in the next market downturn, and Bill Hench of the Royce Funds talks small- and micro-cap stocks in the Market Call.

David Wright, lead portfolio manager for the Sierra Funds, said that the market has mixed fundamentals and technicals that individually might scare investors but that ultimately are no cause for worry in the short run, because they aren't pointing to a recession in the near-term. That said, he did discuss taking a defensive posture for the current markets, using preferred-stock mutual funds and municipal-bond funds as safe haven that should produce above-average income going forward. Also on the show, author Liz Frazier discusses her new book on teaching kids about money, 'Beyond Piggy Banks and Lemonade Stands,' Sam McBride of New Constructs puts all new initial public offerings in 'the Danger Zone' and we rebroadcast a recent chat with Andrew Foster of Seafarer Capital Management.

Eddy Vataru, portfolio manager for Osterweis Total Return Fund, said that while the market is pricing in the high probability of a recession, he thinks it has been too aggressive and that there won't be a protracted economic slowdown in the near future. He noted that the inverted yield curve may be less of an indicator than in the past because rates currently are so low, which was not the case with past inversions. Also on the show, technical analyst Michael Sincere said the market is in a trend-less trend, with limited upside, some good potential moves to the downside but a rising trend that he doesn't want to fight. It has him mostly on the sidelines now, figuring there will be a clearer trend after the next Federal Reserve meeting. In the Market Call, Aash Shah of Summit Global Investments talked low-volatility stocks, and Chuck also answered an audience question about the value of frequent-flyer miles.

Tom Lydon, editor at ETFTrends.com, said that with interest rates going down andcentral bankers working to manage inflation, many investors should be looking towards gold, both for its traditional role as an inflation hedge but also because it can turbocharge results. He made GOAU, the US Global GO GOLD and Precious Metals Miners ETF his 'ETF of the Week,' noting that the fund has shot up but that the market gives it room for even more growth. Also on the show, author Michael B. Horn talks about keeping perspective while making appropriate college choices, Jill Gonzalez of WalletHub.com covers a survey on how consumers expect to spend less on their cell phones, even with the new iPhone coming out, and Tom McIntyre of McIntyre, Freedman and Flynn mixes news and fundamentals as he talks stocks in the Market Call.

Ed Cofrancesco of International Assets Advisory said in the Big Interview that it's a sideways market with factors that could push it significantly out of the range it has traded in towards new highs or recent lows, but that investors should not be over-reacting to news and to headline risk. Cofrancesco said he ultimately expects the market to move higher once a trade deal is agreed upon with China. Also on the show, Jake Falcon and Joseph Klein of HighTower Advisors discuss how the ongoing trade war with China is trickling down into their thinking and planning on behalf of their clients, Chuck takes an audience question about his personal portfolio, and Chris Retzler from the Needham Small-Cap Growth Fund has the Market Call.

Lorna Kapusta, head of women and investing at Fidelity Investments, said that recent research by her firm showed that more than half of women keep nearly all of their savings in cash or bank accounts, compared to about 30 percent of men. Those staggering numbers show why it is hard to anyone to grow their savings into an appropriate retirement nest egg. Also on the show, author Dana Look-Arimoto talks about smart settling, Jill Gonzalez of WalletHub.com discusses the site's latest research and we rebroadcast a recent chat with leading value investor Joel Greenblatt of Gotham Asset Management.

Chuck closes out his coverage of #FinCon19 by chatting with five FinCon stars, including Doug Nordman of The-Military-Guide.com, Philip Taylor, the founder of both Fincon and of ptmoney.com, Andy Hill of the Marriage, Money and Kids blog and podcast, Sarah Li-Cain, writer and host at Beyond the Dollar, and Steve Stewart, podcast editor and the community leader of FinCon's Podcast Network.

Chuck is at FinCon 2019, the giant meeting of podcasters, bloggers, writers and other content creators from throughout the personal-finance world. His guests today cover a wide range of subjects and programming. You'll hear from Gwen Merz of Fiery Millenials, Stephanie McCullough of Sofia Financial, Dustin Heiner of MasterPassiveIncome.com, Kent Brown of the Daily Money Show, Australian Paul Benson of Financial Autonomy, Kelly McKillip of Couch Cents, Whitney Hansen of The Money Nerds, and Logan Allec of Money Done Right.

Tom Lydon of ETFTrends.com made the PIMCO 25+ Year Zero Coupon US Treasury Index ETF (ZROZ) his ETF of the Week saying it's that -- despite the inversion in the yield curve -- it's an appropriate investment response to today's common investment concerns, because long-term bonds stabilize a portfolio in low-rate, recessionary environments. Also on the show, author James Pattersenn looks at stocks a young Warren Buffett would buy, Brooklyn Lowery of CardRatings.com discusses credit-card churning, and Joe Saul-Sehy of the Stacking Benjamins podcast helps Chuck prepare for FinCon 2019 by discussing the good, bad and ugly of the podcast world and the blogosphere.

Jim Welsh, macro strategist and portfolio manager at Smart Portfolios, said he expects the market to rally to rpughly 2,950 on the Standard and Poor's 500 ahead of the next Fed meeting, only to have the central bankers issue some sort of disappointing news around a rate cut that puts the market into a short tailspin down to the 2,750 range. From there, Welsh said, expect an oversold bounce that helps to fuel the next rally. Also on the show, author Caitlin Zaloom discusses the lengths parents go to in order to pay for college educations, we rebroadcast an interesting disagreement between Jeremiah Reithmiller and Steve Tresnan of HighTower Advisors on how to use alternative investments in a portfolio, and Michael Robinson of Money Map Press stops by to talk stocks in the Market Call.

Ted Rossman of Bankrate.com said that more than two-thirds of people with credit-card debt are making a financial mistake by trying to maximize credit-card rewards rather than forgoing the bonuses for a card with a lower rate and fewer costs that will help them eliminate debt faster, noting that gaining a few percentage points in cash back or airline miles is not worth the average credit card's 18 percent rate. Also on the show, author Rita McGrath talks about identifying transformative changes in business ahead of the crowd, Noland Langford of Left Brain Capital Management talks stocks in the Market Call, and Chuck answers a question about home-purchase offers you might get in the mail.

Vincent Reinhart, chief economist and macro strategist at Mellon, is not forecasting a recession in the United States but he said that trade uncertainty has been a drag on economic activity worldwide, creating a global recession. Moreover, even when the trade and tariff disputes are resolved, he said things will not be better than before, as it will take time to recover from the damage being caused by the slowdown in trade. Also on the show, Chuck answers a listener's question about an investing strategy espoused by Jim Cramer, Sandy Block of Kiplinger's Personal Finance talks about ways to simplify your finances, and Mike Liss of American Century Value has the Market Call.

Jerry Parker of Chesapeake Capital Corp. -- an original member of the famous Turtle Traders -- said in the Market Call that he'd rather find the most-diversified portfolio than simply trying to find the best stocks, noting that investors need to be taking a defensive posture -- using precious metals, commodities and betting against stocks with short positions -- to be well positioned in today's uncertain markets. Also on the show, author Kendall Rose discussed how step-parents can avoid the financial issues that are often a problem for blended families, financial planner Judith Ward of T. Rowe Price discussed how parents and children fail to communicate on college costs, and Tom Lydon of ETFTrends.com checked in his pick for ETF of the Week, a specialty fund that loves the online retailers and shorts traditional big-box brands.