Money Life With Chuck Jaffe Daily Podcast

Sam McBride, investment analyst at New Constructs, said that misleading operating lease discount rates -- a statistic that is now more widely available and which is a big red flag for many companies, especially retailers -- are masking real trouble at J.C. Penney, making the struggling retailer's problems worse than most people surmise. As a result, McBride thinks the company is likely headed to bankruptcy. Also on the show, Chuck answers a question about Coca-Cola stock, Adam Peck of Riverwater Partners talks social investing and small-cap stocks in the Big Interview, and Michael Roomberg of the Miller/Howard Drill-Bit-to-Burner-Tip fund has the Market Call.

Adam Grimes of Talon Advisors, say that with the market having reached new highs, it's now getting more complex. He's still bullish, but he does see potential troubles down the line, making this a time when investors can be 'rewarded handsomely' for being aggressively long on stocks. John Sarson of the Sarson Funds explains in the Big Interview why 'The Internet and cryptocurrency go together like peanut butter and jelly,' Chuck explores the latest weird financial news, and Mike Bailey of FBB Capital Partners covers stocks in the Market Call.

Doug Roberts of Channel Capital Research -- author of 'Follow the Fed to Investment Success' -- said the central bank's announcement Wednesday that it did not expect to cut rates in 2019 but does expect to drop them next year was the start of trying to create a perfect landing, a situation he suggested will not be easy given the countervailing forces affecting the market and the economy. Also on the show, Tom Lydon of ETFTrends.com picks his 'ETF of the Week,' professor Andrea hasler discusses a recent survey about how educators feel when it comes to teaching personal finance in schools, and Brian Lockhart of Peak Capital Management discusses stocks and ETFs in the Market Call.

Regis Dale, chief executive officer at Harvest Global International -- the largest institutional asset manager in China -- said investors should worry about the impact of trade and tariff skirmishes between China and the United States, but noted that investors who are willing to be patient for the next several years should find that current headlines are mostly creating buying opportunities. Also on the show, Jeremiah Riethmiller and Steve Tresnan of HighTower Advisors disagree about the proper use of alternative investments now, Chuck rebroadcasts a recent question on 7702 plans that was tied to yesterday's question on life insurance retirement plans, and Patrick Healey of Caliber Financial Partners talks stocks in the Market Call.

Tracie McMillion, head of global investment strategy for the Wells Fargo Investment Institute, said her firm remains neutral on stocks overall -- but favorable on emerging markets and domestic mid-caps -- due to heightened risk factors, but she noted that with no recession on the horizon for the rest of the year, investors should be looking to buy on dips and take advantage of opportunities created by market uncertainty in a time when a big, long-lasting downturn seems unlikely. Also on the show, Amanda Dixon of Bankrate.com discusses Americans' side-gig habits, Chuck takes another question on insurance plans for retirement savings, and Charlie Bobrinskoy, vice chairman of the Ariel Funds, talks stocks in the Market Call.

Barry James, chief investment officer at the James Advantage Funds, said the market is not functioning properly because companies with no earnings have been up by 20 percent this year, while, by comparison, companies with real earnings are down, a situation that creates the potential for a big downturn when the broad market wakes up to what is happening. James has been slowly raising cash and becoming more defensive in response. Also on the show, Kelley Knutson of Netspend on Americans' fluctuating incomes, Steve Lipper of the small-cap team at the Royce Funds talks the market, and David Trainer says a soon-to-launch IPO belongs in the 'Danger Zone.'

Frank Holmes, chief executive at U.S. Global Investors, said he sees the market currently in a good place, helped by the changing tide of interest rates, but he noted that investors should be looking to diversify into gold and fixed-income to take advantage of that shift as it occurs during a time of slowing economic growth that will make for tougher sledding for stocks. Also, Danielle Shay of SimplerTrading.com said that the resolution of trade issues with Mexico was a strong short-term win for the market, which she now expects to settle into a range until the next earnings season in July, which could prove to be a catalyst for a move higher. Cather Golladay of Schwab Retirement Plan Services discusses the magic number that Americans think they need to amass for a secure retirement, and we rebroadcast a recent Market Call interview with Mike Larson of Weiss Ratings and Weiss' Safe Money Report.

Allison Schrager, author of 'An Economist Walks Into a Brothel ... ' joins Chuck in a discussion about risk and how poorly most people evaluate is when it comes to decisions. Also, Tom Lydon of ETFTrends.com has the ETF of the Week, Terry Jones of Investor's Business Daily discusses how investor optimism turned away from peak levels in May, Michael Gayed of The Lead-Lag Report gives his technical take on the market, Guy Benstead of the Cedar Ridge Unconstrained Credit Fund discusses the bond market, and Chuck celebrates his borthday!

Michael DiCecco, an asset finance expert with Huntington Commercial Bank, is worried that the transportation and trucking sector could be headed for a recession, and if that sector slows down, it has the potential to lead the rest of the economy into a downturn. Also on the show, Jeremiah Riethmiller and Steve Tresnan of HighTower Advisors discuss very different ways to use fixed-income as an equity hedge now, at a time when traditional bond strategies are less effective than in the past, and Stephen Mathai-Davis of Quantamize does a super-sized Market Call with two helpings of 'Hold It or Fold It,' one covering ETFs and a second for stocks.

Cam Harvey, senior advisor to Research Affiliates and Duke University professor, said that the inverted yield curve model that he discovered -- and which has correctly called major recessions dating back through history -- is poised to trigger at the end of June, a sign that recession is about 12 months off. Also on the show, Chuck takes a question about insurance, Jason Hargraves of InsuranceQuotes.com discusses the value and usefulness of credit-card travel protection, and Malcolm Polley of Stewart Capital Advisors talks stocks and 'business-perspective investing' in the Market Call.

Michael Mullaney, director of global markets research at Boston Partners, said that he expects the Federal Reserve to make one rate cut before the year is over, a move that he expects will help to drive the market higher, but despite that potential move to the upside, he recommended that investors get increasingly defensive, looking for high-quality names with stronger balance sheets. Also on the show, Greg McBride of Bankrate.com discusses his site's most-recent study, David Trainer puts a popular brand-name stock in the Danger Zone, and Matt King of King Wealth Advisors covers stocks and ETFs in the Market Call.

Dan Zanger of ChartPattern.com said that while he sees plenty of weakness and many bearish technical indicators, he believes the market is headed up barring some sort of significant interest-rate policy or political change. Zanger said he expects the Standard and Poor's 500 to reach 3,300 by year's end, after just barely holding at its current support level of roughly 2,800. Also on the show, Jason Browne of Alexis Invests said that the market has been going through a bear market within a secular bull market, and he said the bear -- which no one wanted to acknowledge -- is nearly done, leaving the market poised for an upturn as the rest of the bull market plays out. Beyond those two extended interviews, Chuck also talks with author and financial planner Clark Kendall about his new book 'Middle-Class Millionaires.'

Sandy Rufenacht of the Aquila Three Peaks High Income Fund, said that a flat credit quality curve -- one that seems to be confusing real junk from safer high-yielding investments -- could turn dangerous if the stock market and the economy get into trouble. He warned that investors need to temper their expectations in high-yield bonds, and prepare for potential trouble ahead. Also on the show, Chuck discusses the legacy of the late John Neff, legendary manager of the Vanguard Windsor fund, it's all Greek to Tom Lydon of ETFTrends.com with the 'ETF of the Week,' Mike Foy of J.D. Power discusses Americans' retirement confidence levels, and tactical money manager Michael Ball of Weatherstone Capital Management covers ETFs in the Market Call.

Janet Brown, chief executive at the FundX Investment Group and publisher of the No-Load FundX newsletter, said in the Market Call that fundamentals 'still look decent,' which has meant that the market has only started to move away from the large-cap growth story that has driven the bull run towards more defensive funds, value-oriented funds and small- and mid-cap funds, but she expects that trend to grind on as the market slows down. Also on the show, Jeremiah Riethmiller and Steven Tresnan of HighTower Advisors discuss how to read and interpret economic data and current headlines, Ted Rossman of Bankrate.com discusses the potentially negativei mpact of closing old credit-card accounts and, in a rebroadcast, Craig Callahan of ICON Advisors talks about the market and how it stands below fair value right now.

Chuck tackles an audience question about a purported retirement investment pitched as a 7702 plan and he points out why this insurance contract generally is a bad idea for consumers, how it is sold in misleading ways and why it's not all that it's cracked up to be. He also talks with author Ken Honda, whose new book 'Happy Money: The Japanese Art of Making Peace With Your Money' is out today, discusses changing long-term mutual fund track records with William Frank of Markov Processes International, and revisits a recent Market Call interview with Justin Carbonneau of Validea.

Lacy Hunt, chief economist at Hoisington Investment Management, said that both the domestic and global economies are becoming increasingly frail, raising the risk of recession occurring sooner rather than later. He fears that slower growth will not be able to sustain positive momentum, noting that too many key economic indicators are showing danger signs. Also on the show, Greg McBride of Bankrate.com discusses Americans' greatest financial regret, author John Quiggin discusses his book 'Economics in Two Lessons,' and Kyle Guske of New Constructs puts a small-cap mutual fund in the Danger Zone.

Kristina Hooper, global market strategist for Invesco, said that while she does think the market is facing potential troubles as the economy slows down, she does not anticipate either a recession or a bear market now, just because the market has pulled away from recent highs. Also on the show, Benjamin Bailey of the Praxis Impact Bond Fund said investors should not be stretching for yield right now and should be as defensive in their fixed-income portfolio as they are being with equities. Author Jean Chatzky discusses her book, 'Women With Money,' which used conversations about money and investing to help tackle the issues that stand between individuals and financial success, and John Busby of BroadbanNOW talked about a survey showing that summer is the best time to change Internet service and save.

Larry McDonald, publisher of The Bear Traps Report, said that he is expecting a bear market in the next six months, with the market falling by 15 to 25 percent during a downturn, noting that he does believe the decline could end with a recovery occurring during the election season next year. Mike Larson of Weiss Ratings -- editor of that firm's Safe Money Report -- said in the Market Call that he, too, sees trouble ahead, noting that the market 'is telling you to be defensive right now' and that he is roughly 40 percent in cash currently. Also on the show, Tom Lydon of ETFTrends.com made a fund that pays investors to own it -- thanks to a negative expense ratio -- his ETF of the Week, and Rob Scheinerman of AIG Retirement Services discusses how the student-loan debt burden is affecting new graduates.

Charles Biderman, founder of Trim Tabs Investment Research, said that many of the conditions that have kept the market happy and frothy during the latter stages of the bull run are now mostly mirages, creating the potential for a major correction that he could see happening despite 2020 being an election year. Also on the show, it's May 29 -- the day to celebrate 529 college-savings plans -- and Chuck discusses thos plans and how few people understand and use them with Deborah Goodkin of First National Bank of Omaha, he talks alternative investments in a rebroadcast of a Collective Wisdom from HighTower Advisors segment, and he covers funds and ETFs in the Market Call with Kevin Miller of the E-Valuator Funds.

In a wide-ranging show, Chuck chats with Dawn Gilbertson of USA Today about discount airlines and whether they are worth flying, chats with Robert Frick of Navy Federal Credit Union about the potential for recession before the presidential election, answers an audience question about couponing, and discusses brand-name stocks with Eric Clark of the Rational Brands fund.