Money Life With Chuck Jaffe Daily Podcast

Steven Dover, chief market strategist at Franklin Templeton -- head of the Franklin Templeton Investment Institute -- says that the current stock market and economic situation is not going to play out exactly like some scenario from the past, so that experts are wasting their time harkening back to the 1970s or any other period to draw their forecasts. While many experts will say there's a mild recession in the offing, Dover says that anyone making that prediction needs to consider that there is the potential for something worse. In searching for safe havens, Dover notes that fixed income "now makes more sense than it did at the peak of the market," due to relative price differences caused by the stock and bond markets falling simultaneously through the first half of the year. Also on the show, Jeff Ptak, chief ratings officer at Morningstar, talks about research showing that star ratings -- which were always described as being backward-looking and not good predictors of future results -- actually have benefi