Money Life With Chuck Jaffe Daily Podcast

Jerremy Newsome, founder at Real Life Trading, says he thinks the stock market has entered another period like the Roaring 20s of a century ago, and while that period ended withthe start of the Great Depression, Newsome says he thinks "we're in the middle right now. ... I see that we have truly three to six good years left of overall, bull sustainable markets before we have that big, big, big meltdown." Jeffrey Hirsh, chief executive at Hirsch Holdings — the editor of the Stock Trader's Almanac, which is known for researching how the presidential election cycles impact the stock market — says he sees the current bull market running at least until the mid-term elections in 2026, and he notes that a Republican president at a time with a Republican-led House and Senate typically tends to result in strong market times. While not the best combination — which occurs when a Democrat is in the White House but Republicans control Congress — conservative policies generally favor the markets. Plus, Ted Rossman, senior i

Bill Adams, chief economist for Comerica Bank, says his forecast for 2025 now includes fewer rate cuts, slightly higher inflation, and increased fiscal support for the economy, but those conditions are signs of an an economy "that's humming along, continuing to grow, it's not a recession," and he says the risk of a recession in the next year or two is now "back to its historical normal." Charles Rotblut, editor at AAII Journal — the keeper of the American Association of Individual Investors' sentiment survey — discusses how bullish sentiment was on the rise and bearish sentiment on the decline in the immediate aftermath of the election, and that the impact could last for more than the few big-volume trading days the market posted last week. David Trainer, founder and president at New Constructs, revisits Peloton, one of the first "zombie stocks" the company started labeling back in 2022, discussing why the company's recent run — up about 150 percent in the last three months — is not going to save it from the

Doug Roberts, Chief Investment Strategist at Channel Capital Research Institute — the author of "Follow the Fed to Investment Success" — says that under the new Trump Administration it is possible to return to a status where goods inflation is declining while wage growth pushes core inflation up, which could lead Federal Reserve chairman Jerome Powell to be reluctant to make further rate cuts. While he expects more after Thursday's quarter-point reduction, he thinks the pace of cuts may be slower than many Fed watchers currently anticipate. Jared Hagen, vice president at XA Investments, discusses the unprecedented growth in interval and tender-offer funds that has happened this year and how the number of funds in registration guarantees that the trend will continue through 2025. And Gwen Merz of the Fiery Millennials blog and her husband Tim Joiner — co-hosts of the FIRE Talks podcast — help Chuck answer a question from a listener whose financial life is off to a great start but who is so busy trying to redu

Todd Rosenbluth, head of research at VettaFi, makes the Calamos Standard & Poor's 500 Structured Alt Protection ETF for November his "ETF of the Week," noting that the fund has 100 percent downside protection, making it ideal for investors who were shocked by the election results and who think the market is headed for a downturn. Rosenbluth runs through the complex details on the fund, which caps investor gains at 7.43 percent for investors who are willing to give up some upside potential for protection against downturns. Wall Street Journal columnist Jason Zweig, returns to discuss his recent piece on “trustwashing,” where financial advisers use the media – articles, self-published books, media  appearances and more – to gain credibility that their actions as a planner have not really earned, noting that investors must look past superficial credentials when picking a planner. Plus, Derek Izuel, chief investment officer at Shelton Capital Management, discusses international and emerging markets investing

Wall Street Journal columnist Jason Zweig — who recently released the third edition of "The Intelligent Investor," Benjamin Graham's classic that many believe is the greatest investment book of all time — says that 'It used to be that your stockbroker tried to pick your pocket, and now your stockbroker is in your pocket." Those changes in technology make it hard for investors to stay focused on the long-term, which is where most will make their substantive financial gains. Zweig discusses how and why Graham's classic required updating — he last updated the book, adding commentary throughout — over 20 years ago — even though value investing still works well as Graham defined it in the original version in 1949. Steve Sanders, executive vice president of marketing and development for Interactive Brokers talked about the firm's Forecast Trader Market, which effectively allows investors to buy options on political events, economic data releases and climate indicators, ostensibly to hedge portfolios against curren

Joe Kalish, chief global macro strategist at Ned Davis Research, says he won't be surprised if there is a "normal correction" for the stock market once the presidential election is decided, followed by a pick-up into year's end, regardless of the election outcome. Kalish says he is skeptical that the economy can get to a 2 percent inflation level sustainably without going through a recession, but he does not have a recession prediction in his outlook, which argues for no landing over the next year or two. He expects the market to keep growing, albeit not at the pace seen over the last two years. Larry Tentarelli, editor of the Blue Chip Daily Trend Report, says that he is holding to a year-end target for the Standard and Poor's 500 of 6,000 to 6,100 — a gain of about 5 percent from current levels — provided the presidential election is decided in a timely fashion, so that uncertainty doesn't start to setin and cause unexpected problems. Mona Mahajan, senior investment strategist at Edward Jones discusses the

Greg McBride, chief financial analyst at BankRate.com, says the Federal Reserve has little choice when it meets this week but to follow through on its signals and cut interest rates by one-quarter of a percent, noting that anything larger or smaller than that come Thursday would wind up being destabilizing for the market. The anticipated rate cut, however, may not move all interest rates as expected; McBride noted that mortgage rates actually have surged since the Fed's oversized first cut in September and they may not follow in lock-step with the next move either. Eric Balchunas, senior ETF analyst at Bloomberg Intelligence — co-host of the Trillions podcast — talks about the spate of new, unusual investing ideas that have been turned into ETFs recently — from BattleShares to the oxymoronic single-stock ETFs — and how most of them will go away when the stock market takes its next protracted downturn. David Trainer of New Constructs revisits WarbyParker — which he first put in the Danger Zone as it was launch

Mark Newton, Global Head of Technical Strategy at Fundstrat Global Advisors, expects the market to go through a brief correction after the election, but to have turned that into a buying opportunity by the time December rolls around, bringing with it a Santa Claus rally to end the year. Newton says that for all of the worries investors have about the market, the numbers remain solid and while it may not support continued gains like we have seen in the last two years, it should keep the market from a major, protracted downturn. John Cole Scott, President of Closed-End Fund Advisors digs into his firm's data to break down a stellar third quarter for closed-end funds, which saw a significant narrowing of discounts but where he still sees buying opportunities now. James Abate, Chief Investment Officer at Centre Funds — manager of the Centre Global Infrastructure Fund, the top-performing fund in its peer group year-to-date — talks infrastructure investing in The Market Call, and Chuck talks about how the trick-or-

Mona Mahajan, senior investment strategist at Edward Jones, says the stock market is likely to moderate, but investors should lean into any volatility or price declines as an opportunity to buy and build their portfolio. In a wide-ranging Big Interview, Mahajan — who sees a soft landing as the most likely economic outlook — gives her take on every asset class from the Magnificent Seven to small-cap stocks, from bonds and precious metals to alternative investments. Todd Rosenbluth, head of research at VettaFi, makes the Van Eck Morningstar SMID Moat fund his ETF of the Week.  In the Market Call, Jeffrey DeMaso, editor of The Independent Vanguard Adviser, discusses Vanguard funds and ETFs. 

Jordan Rizzuto, managing partner at GammaRoad Capital Partners, says his firm's models are finding two economic factors looking negative with just one — stock price direction — looking bullish, and when that happens it typically means the market is nearing "a major inflection point and a significant change in market conditions," though there is always a chance that it is simply a refreshing pause before the market resumes its climb. Either way, he does not expect the market to turn to where it has a long sideways move from here. Anthony Martin, chief executive officer at Choice Mutual, discusses the firm's survey which showed that 60% of Americans don't think they'll check everything off their bucket list, although what they are putting on the bucket list varies so widely that the survey may just be an indictment on the process of making a list. Plus, in the Market Call, Chuck Carlson, chief executive officer at Horizon Investment Services — editor at The DRIP Investor — uses the firm's Quadrix research syste

John Kosar, chief market strategist at Asbury Research, says the stock market "doesn't know exactly what to do here," with the economy clicking but sector bets being hard to make because it's hard to know which areas to favor until the re4sults of the election are in. Still, Kosar is generally bullish, noting that he has been risk-on since early August and that he will feel even more strongly if technology stocks can push the Nasdaq through previous highs for several days, clearing the way for more upside from tech stocks. Then, we finish up coverage from FinCon '24, chatting with Marty Steffens, the SABEW Endowed Chair in Business Journalism at the University of Missouri, about the tension between "journalism" and "content creation," and what it means for individual investors who are looking at those different work products. Plus, Bindu and Prahlad Pant — the parents of FinCon rock star Paula Pant of the Afford Anything Podcast — give their first-ever podcast interview, discussing how their daughter came up

Joseph Hogue of the YouTube channel "Let's Talk About Money with Joseph Hogue" says investors want to keep the bulk of their money in simple buy-and-hold strategies and shouldn't be swayed by wild recommendations coming from the blogging and podcasting community, but also says that they should scratch the itch of their fun side -- if they have one -- by taking controlled chances with the fun-money portion of their portfolio. Jillian Johnsrud, host of the "Retire Often" podcast, discusses why and how people should plan regular breaks and re-sets in their career. Shane Walker, chief executive officer at Qube Money, talks about how modern tools are helping consumers take control of their money in ways that, until recently, would not have been possible. Financial adviser Jim Blankenship — the blogger behind "Financial Ducks in a Row" — talks about why consumers and investors are feeling uncomfortable with the stock market in record-high territory. Ava Johns, affiliate marketing specialist at Turbotenant.com discu

FinCon '24 continues from Atlanta, and the conference has a heavy emphasis on financial coaching this year, which comes through in a few of today's conversations from the annual meeting of bloggers, podcasters, content creators, coaches and more. Chuck's guests include KeyAnder Early of How Money Works, who focuses on financial literacy and teaching young adults; Bill Yount, co-host of the "Catching Up to F.I." podcast, which helps people who start their journey to financial independence later in life; Jen Yip, founder of the Lunch Money app, a fintech start-up that provides budgeting services and financial management; Stacy Blackshear of Rewire Behavior Financial Coaching, which works with parents of kids with disabilities to give them financial control and hope; and Dr. Disha Spath, the founder of The Frugal Physician. Plus, in The NAVigator, portfolio manager Jonathan Browne of RiverNorth Capital Management discusses why muni-bond closed end funds are a particularly good value play right now.

Gwen Merz Joiner, who runs the Fiery Millennials blog, says that living a radical financial life trying to amass a nestegg to quit working left her exhausted and unfulfilled, but as she loosens the purse strings today, she notes that she is in her 30s and has amassed a nest egg sufficient to get her through retirement without ever setting another dollar into her 401(k). She describes the ups and downs of FI/RE -- financial independence, retire early -- in an interview from FinCon 2024. In other interviews from the conference being held this week in Atlanta, Chuck chats with Doug Nordman of Military Financial Independence, Charly Stoever of the Unicorn Millionaire podcast, and Zach Whelchel of My Budget Coach. plus, making his regular Thursday appearance on the show, Todd Rosenbluth, the head of research at VettFi, makes Fidelity Corporate Bond fund his ETF of the Week.

For all of the complaints consumers have about inflation, George Milling-Stanley, chief gold strategist at State Street Global Advisors says that the precious metal needs "sustained high inflation" — which he defines as at least two years with inflation above 5 percent — and those conditions were not met, so gold didn't respond to rising prices. Meanwhile, gold has been rolling because it is a good hedge against geo-political risk and Milling-Stanley expects that to continue, given global tensions now. Moreover, Milling-Stanley expects a soft landing for the economy, though he believes that Federal Reserve Chairman Jerome Powell is determined to deliver "a period of below-trend growth" to return the economy to stable well-being, and that transition could feel rough for investors. Rob Williams, chief investment strategist at Sage Advisory Services, agrees that a soft landing is likely, though he expects that the market will face more turbulence and will fly at lower altitudes as the economy slows during the ra

Jack Janasiewicz, Portfolio Strategist at Natixis Investment Managers, says the economy can keep supporting earnings growth, and as long as earnings are marching higher, it should pull the equity market up further. While warning that investors may have to adjust expectations after two big years that make an encore unlikely, Janasiewicz says that heightened volatility amid geopolitical tensions is more a wild-card or an unknown than a detonator for trouble. Moreover, he notes that if the global market takes a turn driven by war or political tensions, the U.S. will remain "the best house in a tough neighborhood." Tom Rossi discusses the latest results from Northwestern Mutual's annual "planning and progress study," which showed a significant gap between what Gen Z and Millennials expect to receive from their parents an inheritance and what their parents are actually planning to leave behind. Plus, Toni Turner, President of TrendStar Trading Group, says the technicals show that "We're still in a bull market," a

Vishal Khanduja, Head of the Broad Markets Fixed Income team at Morgan Stanley, says with inflation trending downward, labor data will be what the Federal Reserve is most focused on, and as those numbers move the central bank may take a choppy path toward rate reductions. While that may keep the market on edge, Khanduja notes that corporate and consumer balance sheets are very strong right now — which is unusual at the start of a rate-cutting cycle — which combined with reduced inflation and low-but-stable growth should result in a soft landing. Chip Lupo discusses the early holiday shopping survey from WalletHub, which showed that 46% of Americans enter the 2024 holidays still paying off debt they rang up during the Christmas season last year. Investment analyst Kyle Guske of New Constructs puts PGIM Jennison Mid-Cap Growth in "The Danger Zone," saying it's an expensive way to own a bunch of bad stocks, and portfolio manager Bill Davis brings his brand of high-turnover ESG investing to the Money Life Market

David Ellison, Portfolio Manager and Financial Services Specialist at the Hennessy Funds, says that the banking industry is coming out of "a two-to five year period of darkness," heading for "sunny days ahead," though he notes that banks do not want interest rates to fall too far but he thinks earnings can grow even if the Federal Reserve cuts rates by another 1 percent or more. Ellison also notes that anticipated problems in commercial real estate — considered a real threat to the health of the banking system — aren't likely to materialize as a real threat now because the industry has spent the last two-plus years preparing for trouble. "It may be a drag here and there, but it won't be a blow-up problem," he says. Dana Staggs, President of Arrowmark Financial Corp., looks at a high-yielding alternative to standard banking plays, talking about how his closed-end fund relies on regulatory capital relief securities — esoteric investments that currently can generate yields of up to 15 percent — and that should h

Todd Rosenbluth, head of research at VettaFi, says that the start of a rate-cutting cycle is a time when investors will want low-cost active management — rather than an index fund — in the fixed-income space. To that end, he picks a T. Rowe Price fund that uses a quantitative management style as his ETF of the Week, noting it can do the job for investors looking to diversify their fixed-income holdings. Jessica Johnston, senior director for NCOA's Center for Economic Well-Being In the U.S., discusses a recent survey by the group which showed that 80 percent of older Americans face a real risk of financial insecurity, Chuck discusses what investors and savers are facing — regardless of which side wins the election — when it comes to decisions on tax legislation that expires in 2025, covering everything from tax rates and the standard deduction to the child tax credit,estate tax exemptions and much more. And in the Market Call, Kathy Boyle of Chapin Hill Advisors discusses how she uses ETFs in pursuing core-an

For about a decade, Chuck has offered the kids in his neighborhood a chance to pick cash or candy, to decide between a trade or a treat. It's part of his belief that even young kids are able to understand and make basic financial decisions, deciding if they would rather have candy or if the financial prize is worth more to them because it's different and more useful than candy. He always encourages others to put their own stamp on the idea with kids in their neighborhood, but each year Chuck also tweaks the game, making subtle changes to keep things interesting for the kids (and himself). This year, he is making a change to the "lottery option" that might make it appear that the children have a better chance at winning big by going that route, but instead makes it so that the children would almost certainly be better off picking any choice but the lottery option. Phil Moeller, author of "Get What's Yours for Medicare: Maximize Your Coverage, Minimize Your Costs," discusses the daunting process that Americans