Money Life With Chuck Jaffe Daily Podcast

Michael Dowdall, investment strategist for BMO Global Asset Management, says the trade war between the United Stateas and China will be the over-arching headline for the foreseeable future, and while he expects minor deals to be announced he believes a full resolution of tensions will be elusive in 2020. Despite that, he believes the American consumer will continue to drive the market higher, and that the U.S. economy will continue to lead the world, though he expects a bounce-back from a number of countries that mostly suffered through 2019. Also on the show, Catherine Collinson of the Transamerica Center for Retirement Studies discusses women and their retirement preparedness, Davd Trainer talks about technology companies and puts a troubled tech stock in the Danger Zone, and Chuck discusses how being a bit of a humbug for the holidays and talking moderation with family memebrs could be a true gift of the season.

Michael Mullaney, director of global markets research at Boston Partners says that while there are some warning signs clearly visible -- and wildcards like trade wars and Brexit that could cause further deterioration -- investors should stay fully invested for as long as the economy continues showing growth and companies keep on reporting profits. He suggests that investors side with stocks that have 'high-quality characteristics' as a way to hedge against a weakening market. Also on the show, John Kosar of Asbury Research gave a technical outlook that wasn't nearly as positive, noting that the market is overextended and that if the major indexes break through support levels, investors might want to take better control of their risks. Axel Merk of the Merk Funds and the ASA Gold and Precious Metals closed-end fund discusses the difference for investors between using traditional funds and the closed-end structure for exposure to precious metals, and George Young of the Villere Funds talks stocks in the Market

Tom Lydon, editor at ETFTrends.com, made the PIMCO Low Duration Active ETF -- ticker symbol LDUR -- his 'ETF of the Week,' noting that the low-duration exchange-traded fund not only mitigates risk but can increase returns from money-market funds by as much as one full point, a significant difference in a time when money mostly parked on the sidelines isn't delivering much return. Also on the show, Jason Reposa of MyBankTracker.com talks about the financial mistakes savers and investors admit to making around the holidays, Rob Lutts of Cabot Wealth Management talks stocks in the Market Call, and we revisit a recent interview with Frank Holmes of US Global Investors.

Erik Weisman, chief economist and portfolio manager at MFS Investments, says that while the market and economy are giving off generally positive signs of strength, the numbers this time may be hiding some issues that could shorten the current business cycle and dampen returns. Also on the show, Washington Post columnist Allan Sloan talks about the one tax move he thinks anyone in their 70s should do to minimize what they owe Uncle Sam, Adam Thurgood of HighTower Advisors discusses how to match risk tolerance and today's positive investment sentiment with the market's realities for the future, and Ted Rossman of Bankrate.com talks about his site's latest survey of how consumers misbehave with credit cards.

Jason Thomas, chief economist at AssetMark, said that investors are too concerned with current events and the upcoming election when they should be focus instead on the earnings power of big companies, which he said will continue to drive the market for the foreseeable future. Thomas said that while investors have reasons for their personal concerns around news, they should tune out the noise to focus on the strong earnings picture. Similarly, two very different technical analysts -- Adam Grimes of Talon Advisors and Lawrence McMillan of McMillan Analysis -- came to similar conclusions, namely that the market could be headed for a technical blow-out but both suggested that the warning signs are still hard to see and said they would wait until they see a downturn as imminent before changing their investment strategy to something more defensive. Finally, Chuck Carlson of Horizon Investment Services and the DRIP Investor talked stocks in the Market Call.

Today's show covers a lot of ground, from Matt Zajechowski of Digital Third Coast talking about a survey on package thefts and giving out tips for foiling box bandits this holiday season, to Ben Hunt of EpsilonTheory.com talking about his big concerns for the markets that have been mostly overlooked by observers and experts, on to international value investing in the Market Call with guest David Marcus from the Evermore Global Value Fund talking about how the market's run to record highs hasn't curtailed his supply of companies that have been bloodied and bruised by business and that look like solid discount plays to him as a result of their troubles.

Chuck celebrates Black Friday with tips on the best and worst card deals and items to shop for from Jill Gonzalez of WalletHub.com, and talk about how to avoid the worst retail store credit card offers. There's also The NAVigator, where Jerry Raio of Arbor Lane Advisors gives his take on 2019 IPOs and the outlook for 2020, and the ETF of the Week from Tom Lydon of ETFTrends.com. Also on the show, Charles Biderman of Trim Tabs Investment Management discusses the market and his expectations for how long the current rally can last.

Jim Sarni, managing principal at Payden and Rygel, says that 2020 looks to be a year of heightened volatility, centered around market flashpoints like tariff and trade wars, interest-rate concerns, the Presidential election and more, but he notes that the environment will be one where cooler heads prevail. He urges investors to stay calm, to look for investments in quality companies with dividend-oriented stocks the focus for equities and shorter-duration high-grade bonds the focus in fixed income. Also on the show, Jimmy Hausberg of HighTower Advisors discusses the lessons investors should remember from the market meltdown that started right after Thanksgiving a year ago, Dr. Steve Giannoutsos talks about the value of do-it-yourself braces and teeth aligners, and Adrian Garcia of Bankrate.com discusses holiday pressure to overspend.

Frank Holmes, chief investment officer at U.S. Global Investors, says investors have plenty of reason to be optimistic right now, noting that the domestic and international economies are showing signs of strong demand, which should keep global markets rolling for the foreseeable future. There's more bullish praise for the market and its technical signals from Dan Zanger of ChartPattern.com, who  is as fully invested as he has been in many months, despite his daily worries over how Tweets and news blurbs can ruin his short-term trades. Greg McBride of Bankrate.com chats about how ill-prepared many Americans are for retirement, but how it appears that they are falling further behind rather than playing long-term, slow-speed catch-up, and Charlie Bobrinskoy, vice chairman of Ariel Investments, talks stocks and value investing in the Market Call.

Alan Gayle, president of Via nova Investment Management, said he expects the storm clouds of trade wars and interest rate pictures to clear as the calendar hits 2020. Coupled with improvement seen in the markets of Europe, China and emerging markets, he is optimistic about results for 2020, especially for international investments. Gayle's comments were a bit more hopeful -- especially about returns and global investing -- than those of David Jilek, chief investment strategist of Gateway Investment Advisors, who expects muted returns and heightened volatility from stocks and bonds through 2020. Also on the show, Francesca Ortegren of Clever Real Estate discusses the high costs of commuting, especially in certain cities, and David trainer of New Constructs puts Zynga in the Danger Zone.   

Karl Mills, president of Jurika, Mills and Kiefer, said that investors have to look beyond headlines, current events and present-day nervousness to stay focused on long-term goals, and should be considering long-term trends, needs and risk tolerance rather than today's news and the weekly market action when putting together an asset allocation. Also on the show, Nicholas Marshi, editor of the BDC Reporter, discusses the state of business-development companies through the third-quarter earnings period, Chuck answers a question about store and retail credit cards, and John Buckingham of the Prudent Speculator newsletter brings his dedicated value investing style back to the Market Call after a long absence.

Jeff Davis, chief investment officer at LMCG Investments, says that while investors have been frustrated by a decade of international investments lagging far behind the United States, he thinks giving up on international investing is a mistake, particularly now that investors are paying a premium on domestic stocks and can get relative bargains around the world. Also on the show, Tom Lydon of ETFTrends.com has the ETF of the Week, Chuck answers a question about investing in artificial-intelligence stocks, and David Brady of Brady Investment Counsel talks about growth stocks in the Market Call.

Bill Stone, chief investment officer, Avalon Investment and Advisory, said he believes investors have seen the worst of global economic numbers and that with better data ahead, plus strong investor sentiment and record amounts of cash on the sideline ready to be invested, there is a strong chance for another market rally in 2020. That said, he believes that the long lagging cycle for value stocks could be ending, and he suggested investors might want to rebalance their value and growth portfolios to take advantage of the change. Also on the show, Ted Rossman of CreditCards.com returns to talk about the states where people have the best and worst money habits, Jake Falcon of HighTower Advisors discusses how investors need to keep what they hear from the media in perspective, and author and money manager Mark Grimaldi discusses how to have a tax-free retirement.

Patrick O'Hare, chief market strategist at Briefing.com, said that low rates have steered a market through a time of no-earnings growth and have the market poised to keep pushing forward despite headline risks over trade concerns, impeachment, the upcoming election and more. O'Hare said he expects 2020 to not be quite as good as 2019 -- in part because some good news has been pulled forward and priced in already -- but he expects a positive outcome through the election and for the election year. Also on the show, we revisit a recent interview with Jim Welsh of smart Portfolios, Chuck talks rewards-card offers with Ted Rossman of CreditCards.com, and Charles Norton of the Vitium Global Fund (VICEX) makes his debut talking sin stocks in the Market Call.

Chuck is back from his weekend in Seattle with a bad head cold and some anger issues, especially after tuning into a program called 'Trading and Investing with Ryan and Larry,' and he shares some of the reasons why real investors should be able to ignore the ridiculous logic behind the sales pitch to become a trader. Also on the show, longtime business journalist Rob Wells discusses his new book on how some little-known trade reporters exposed the 'Keating Five' in one of the nation's largest business scandals, plus we rebroadcast a recent chat with Rob Howe of Stock Spin-Off Investing.

Rob Berger, author of 'Retire Before Mom and Dad' says that while investors want to make things complicated, maintaining a simple, straightforward portfolio, relying on the power of compounding and setting aside more money than average are the real keys to long-term financial success, noting that investors need to demystify the savings process and simply recognize the long-term value of money they spend wastefully today that could truly change their lives if they considered its potential value in the future. Also on the show, John Cole Scott of the Active Investment Company Alliance tackles audience questions in The NAVigator, Francesca Ortegren of Clever Real Estate talks about her analysis of financial literacy data, and Kathy Boyle of Chapin Hill Advisors covers mutual funds and ETFs in the Market Call.

Jim Welsh of Smart Portfolios said that with market sentiment on the rise and most observers thinking things are good, it's time to be guarded. Welsh said that the market's technicals look to him like a small rally to reach a market top before a 5 to 7 percent pullback that he does not think will scare investors. After that, he expects the market to recapture its highs, top out and then a correction early in 2020 that could shave as much as 750 points off the Standard and Poor's 500. Also on the show, Tom Lydon of ETFTrends.com has the ETF of the Week, Oliver Pursche, chief investment strategist at Bruderman Brothers Asset Management checks in from the EY Strategic Growth Conference, and James Abate of Centre Asset Management talks stocks in the Market Call.

Andy Morse, senior partner at Morse, Towey and White Group in New York, says that while investors often want to leave politics out of their financial picture, it's actually earnings and public policy that drive the markets, and he gives reasons why that will drive the market -- especially as trade concerns are resolved -- even if his expectations remain modest. Also on the show, Chuck answers another audience question, author Lane Martinsen talks about holistic retirement planning, and Jason Browne of Alexis Investment Partners overs funds and ETFs in the Market Call.

Nick Raich of The Earnings Scout returned to the Market Call to discuss his unique brand of stock analysis which focuses on earnings forecasts -- rather than past results -- looking for the best changes in earnings estimates, and he noted that while his models are starting to like developed international markets over the U.S., he still likes defensive sectors like health care, consumer staples, real estate and utilities, while being concerned and nervous about industrials, communications services and energy stocks. Also on the show, Chuck answers a listener's question about tax-loss selling, author Adam Minter discusses his book 'Secondhand: Travels in the New Global Garage Sale,' and Chris Gatz of CreditWise at Capital One discussed consumer stresses over debts and finances.

Jae Yoon, chief investment officer at New York Life Investment Management, said that the issues of the current trade war are not going away and will slow economic activity until they are resolved, yet he noted that they are not killing the current economic cycle, which he thinks can run for 12 to 18 months or more. Yoon said he is beginning to look at reducing allocations ahead of a cycle whose end could coincide with the presidential election, but noted that investors should not be full-on defensive just yet. Also on the show, Matt Schulz of Creditcards.com talks about retail store cards, author Stephen Martin discusses 'Messengers' and how we decide who to listen to and trust in today's society, and Kyle Guske of New Constructs puts a stock with over-blown earnings numbers into the Danger Zone.