Money Life With Chuck Jaffe Daily Podcast

David Jilek, chief investment strategist at Gateway Investment Advisers says that the market of late has been a battle between 'The Buy-the-Dip Crowd' and 'The Run for the Hills Brigade,' and while he makes a case for each argument, he says investors may want to position themselves between those two factions, succeeding more by staying in the middle than by picking sides. In today's Left Brain Thinking segment, Freddy Garcia of Left Brain Wealth Management takes on the classic '4 percent rule' for amassing sufficient retirement savings, noting that today's rising inflation and slowing growth conditions may require asset-allocation changes to reach targets. In the Book Interview, author Rupert Russell discusses his new book 'Price Wars: How the Commodities Markets Made Our Chaotic World,' and how commodities and supply-chain issues have the power to topple governments, and James Abate of the Centre Funds talks stocks and staying focused on the long term in the Market Call.

Toni Turner, president of TrendStar Group, says that  while she expects the market's bullish case to win out over the longer term, right now the tape is showing a fight between bulls and bears over issues like higher inflation and interest rates, creating what she called a 'tradeable low,' which is a buying opportunity where purchases are backed up by protective stops to limit downside risk in case the market 'gets cranky again.' In the Book Interview, Spencer Jakab of the Wal Street Journal discusses 'The Revolution That Wasn't: GameStop, Reddit, and the Fleecing of Small Investors,' which is out today, and in the Market Call, veteran financial talk show host Moe Ansari of Compak Asset Management is talking stocks based on his take that mixes technicals with fundamentals.

Sheraz Mian, director of research at Zacks Investment Research, says that while the Federal Reserve may have stopped using the word 'transitory' to describe inflation, it's still the right word for most issues currently facing the market, noting that once current headline-driving situations like the supply-chain crisis and labor shortages and inflation can be sorted out, the earnings picture and growth outlook remains strong. He expects the market to struggle for another quarter or more, but to look much better in the second half of the year. David Trainer of New Constructs revisits five successful Danger Zone picks from 2021 -- UBER, AFRM, RIVN, DASH and WRBY -- that he thinks are falling knives, still dangerous despite being down more than 40 percent from their peaks, and nit he Market Call, Michael Robinson,  chief technology strategist for Money Map Press, notes that there aren't many great charts to be looking at right now, and he discusses how he is picking and choosing through the increasing volatility

Markus Schomer, chief economist at PineBridge Investments, says that the big economic headlines and numbers are creating a whipsaw of reactions, which he expects to be reflected ni a 'yo-yo market -- up-and-down, up-and-down, up-and-down' for much of the year. Schomer notes that the economic cycles of nations and regions are not in sync right now, contributing to the back-and-forth. Dncan Farley, manager of the BlueBay Destra International Event-Driven Credit Fund, says those same economic events are creating opportunities for him to find good companies with bad balance sheets or caught in sticky situations, a strategy that can generate above-market returns in time. Also on the show, Ed Moya, senior market analyst at OANDA, talks technicals and trading in this volatile market, and Jeff Lipton, head of municipal research and strategy for Oppenheimer and Co., talks about how bonds in general -- and munis in particular -- are likely to fare as rates start to rise, tax-law proposals hit Congress and more.

Elliott Gue, editor at the Energy & Income Advisor, says that the slowdown in energy exploration and development since 2014 -- that was accelerated by the economic shutdown around coronavirus in 2020 -- has created a supply squeeze that will generate 'a prolonged up-cycle in oil prices and natural gas prices' over the next few years. He's in talking stocks in the Market Call, but this show also includes Tom Lydon of ETFTrends.com making a senior-loan fund his ETF of the Week, Ted Rossman of CreditCards.com discussing the site's survey on financial infidelity and the effect secret-keeping can have in personal relationships, and portfolio manager Conor Muldoon of Causeway Capital covering the market and the troubles he sees ahead for the markets, but also the prospects for success in value investing.

Matt Peron, director of research at Janus Henderson Investors, says that the market cycle still has room to run, but that the rally is undergoing a reset as it awaits more clarity from the Federal Reserve. As a result, he suggests that investors be patient and wait out the current declines rather than buying into them, noting that the market faces a series of "speed bumps" over the first half of the year before domestic and international markets will resume their climb higher. Also on the show, James Burton of Personal Capital discusses the firm's 2022 Wealth & Wellness Index, Chuck answers a question on the math behind deciding when to take Social Security benefits, and David Brady of Brady Investment Counsel talks growth stocks in the Market Call.

Rob Arnott, founder and chairman of the board at Research Affiliates, discusses how markets move based on narratives that are always changing, and says that investors worried about today's headlines should be asking themselves if the problems will still be big concerns in a few years. He suggests that would calm investors -- and have them looking for opportunities -- about coronavirus, global supply-chain issues and inflation, but would leave them with some real concerns about government debt and more. Also on the show, Kristin Myers, editor-in-chief of The Balance, discusses first-date costs, customs and expectations ahead of Valentine's Day, and Chuck discusses Monday's wild market ride and how investors can take their fingers off the panic button and keep their concerns in perspective.

Wayne Wicker, chief investment officer at MissionSquare Retirement, says that there is still a lot of economic strength in the United States, which when coupled with a long-term outlook suggests that the stock market can overcome current concerns and a bumpy ride to deliver good returns to patient investors. Also on the show, Lester Jones discusses the latest outlook survey out today from the National Association for Business Economics, David trainer of New Constructs talks about three of the biggest winners -- meaning their stocks were losers -- that he put into the Danger Zone last year and why they are likely to be as bad or worse again this year, and Ken Laudan of the Buffalo Large Cap Growth talks in the Market Call about finding and investing in 'innovative, high-quality, durable large-cap growth companies.'

Whitney Tilson, founder/chief executive officer at Empire Financial Research, says that while the Nasdaq entered correction territory on Thursday and the market has had some bumps and bruises along the way, the long-running bull market is still in place and looks like it is "in the seventh inning." Amid a wide-ranging market conversation, Tilson also discusses short-selling, cryptocurrency investing, Tesla, meme stocks and how his views have -- and haven't -- changed over time. Also on the show, David Giroux of T. Rowe Price Capital Appreciation is back, following up on Thursday's market discussion by talking about his recent book, "Capital Allocation," and describing how the focus on the way companies use their money should shape investment decisions; and Connie Luecke, manager of the DNP Select Income Fund, discusses infrastructure investing and how it is poised to push through current conditions regardless of whether key legislation gets approved in Washington.

David Giroux, manager of the T. Rowe Price Capital Appreciation fund -- which has one of the best track records in the fund world under his long stewardship -- is 'highly confident' that inflation is headed back to more normalized levels, something in the 2 to 2.5 percent range, but as the market works that out, he is not expecting any major downturn, noting that he is still able to buy relative values with the potential to generate reasonable returns regardless of what the market does next. Also on the show, Tom Lydon of ETFTrends.com makes a fund that buys midstream pipeline plays his ETF of the Week, Taelor Candiloro of Clever Real Estate discusses the site's research on retirement savings -- which showed that about two thirds of Americans have either nothing saved for retirement or have less than 40 percent of the amount experts suggest they should have -- and Bill Staton of Novare Capital Management talks dividend-paying stocks in the Market Call.

Dec Mullarkey, head of investment strategy at SLC Investments, says that despite the anxiety produced by inflation being an economic wildcard, he expects the market to produce 'a decent year,' with returns of 8 to 10 percent on equities despite significant volatility along the way. Also on the show, Brian Dress, director of research at Left Brain Investment Research, says that the current market rotation has him looking at energy and production companies and pipeline stocks as places with potential for a pickup in growth even as the economy is slowing; financial adviser Dan Cunningham of One Day in July discusses the impact inflation and interest rates are having on long-term savers, and Chuck answers a listener's question on moving averages.

Mary Ellen Stanek, president of the Baird Funds, says that investors will benefit from higher yields and get past many of the temporary concerns hitting fixed-income markets once the current rate-adjustment period is concluded, so she suggested buckling up for the ride, increasing portfolio quality, dialing down risk and maintaining liquidity in order to act on the better opportunities that lie ahead. Also on the show, author Evan Hughes discusses his new book, 'The Hard Sell: Crime and Punishment at an Opiod Startup,' Ted Rossman of Bankrate.com talks about what consumers really want from their credit cards, and Chuck answers a listener's question about the best process for paying off credit-card debts.

Jeffrey Hirsch, editor of the Stock trader's Almanac, says that history has shown that markets struggle in mid-term election years, particularly when the president is a first-term Democrat, and that coupled with rising inflation and interest rates, it should make for a market that struggles this year to achieve modest single-digit gains. Lawrence McMillan, president of McMillan Analysis says that the next move of the Standard and Poor's 500 -- whether it tops 4,800 or declines below 4,500 -- will go a long way to determine what the market is capable of this year; Mark Fleming, chief economist at First American Financial Corp. talks about the wild conditions of the housing market, but dispels much of the concern that rising mortgage rates will change them dramatically, and Alex Condrell of Cliffwater discusses how investments in middle-market corporate credit should overcome current conditions to generate something close to historic return levels of 9 percent.

Axel Merk, founder and president at Merk Investments and the Merk Funds, says he is currently underweight equities because of concerns of everything that could go wrong in the short run. He's watching interest rates, inflation, the pandemic, international and domestic politics and more and while he says long-term investors can rideo ut these concerns, anyone who needs to access their money in the next two years should be concerned. Also on the show, Tom Lydon of ETFTrends.com makes a fund putting a different twist on a 'Dogs of the Dow' strategy his 'ETF of the Week,' Kate Hao, chief executive at Happy Mango discusses the fallout from Bank of America's announcement that it will join other large institutions in eliminating overdraft fees and the impact these changes will have on banking and, more broadly, society, and Chuck discusses how to deal with the five economic and financial conditions that have been mentioned the most by experts giving their outlooks for 2022.

Crit Thomas, global market strategist, Touchstone Investments says that the 'tsunami of liquidity' that was pushed into the economy throughout the pandemic is going to recede in 2022 , and the effects of money being pulled from the economy by the Federal Reserve and the government is enough to make him 'risk neutral' at least until factors like the pandemic, interest rates and inflation play out and reduce uncertainty. Also on the show, Ed Carson, news editor at Investor's Business Daily, discusses the paper's latest Economic Optimism Index, in which it's hard to find any actual good feelings as consumers are scared by inflation and market volatility. Also, Chuck discusses surprising research showing that companies could provide pensions -- and deliver better results -- than by using 401(k) and other popular plans, and the Weird Financial News includes a story on 91,500 oily pennies and the investment value of Legos.

Wall Street veteran Bob Doll, chief investment officer at Crossmark Global Investments, has long made annual forecasts for the key financial elements of the year ahead. But coming off the global pandemic and the way it skewed economic numbers, Doll's crystal ball was murkier a year ago, and it was reflected in him hitting on fewer of his predictions. We review what happened with him, and then turn our attention to the coming 12 months, which Doll says are still hard to forecast because of the unpredictability of current trends. That said, those trending uncertainties will make for a tougher year, one in which investors are likely to find that diversification pays off more than in the recent past. Also on the show, Chuck answers a listener's question about a popular fund, ARK Innovation, that has been struggling for the last year.

Lindsey Bell, chief markets and money strategist at Ally Invest, says that the market is capable of generating double-digit returns for the third consecutive year despite concerns about inflation, rising interest rates and more. Bell says that what is likely to determine the market's ability to actually deliver is the actions of the Federal Reserve, which may not comfort listeners after hearing today's Book Interview, in which author Christopher Leonard, discusses his new book, 'The Lords of Easy Money: How the Federal Reserve Broke the American Economy.' Also on the show, more market talk featuring Louis Ricci, head trader at Emles Advisors, and David Trainer of New Constructs puts Tesla and Box -- two picks that didn't go his way in 2021 -- back into the Danger Zone noting that the companies' ability to put off trouble doesn't mean avoiding it forever.

Tom McClellan, editor of the The McClellan Market Report, says that it's time for investors to 'change out of your tennis shoes and put on your track shoes' to deal with a market that is going to chop sideways this year, and turn 'horrible' next year. McClellan has told his subscribers to be out of the market now, as he expects a downturn over the first few months of 2022. The NAVigator segment features Robert Grunewald, chief executive officer at Flat Rock Global discussing how the interval-fund structure provides stability in a potentially volatile asset class like 'middle-market credits,' allowing investors to trade off some liquidity in pursuit of higher fixed-income returns. Also on the show, Chuck answers audience questions about saving versus paying down debt, and about the value of a found collection of old coins, and Helaine Olen of the Washington Post talks about the continued blurring of the lines between journalism and 'sponsored content,' and how hard it is to distinguish between the two at Fox B

Marty Bergin, president, Dunn Capital Management says that the absolute return on bonds is going to be negative during the coming inflationary environment, which will be scary for retirees who will lose purchasing power as they struggle with generating any real returns from fixed income. Bergin discusses inflation in terms of 'price discovery' -- the situation being caused currently by supply chain issues -- but also as a 'monetary phenomenon' resulting from the actions of central bankers, and notes that the latter is the bigger problem for consumers and investors. Tom Lydon of ETFTrends.com is also talking inflation today, picking a unique fund that hedges interest rate volatility and inflation as his ETF of the Week. Plus, Jacob Passy of MarketWatch discusses Robinhood's recently announced efforts to educate novice investors and Chuck answers a question about Worthy bonds -- something he owns himself -- and inflation-protected securities.

Noland Langford, chief executive officer at Left Brain Investment Research, says that changing economic conditions are forcing investors to re-evaluate growth, putting heightened focus on issues with longer-term growth, and backing away from some of the momentum-driven winners from 2021. Also on the show, Chuck talks about a uniquely different alternative investment -- comic books -- for the first time in Money Life history, visiting with Andrew Davis, The Comic Book Investor; Mark Hamrick of Bankrate.com discusses research on how long people hang onto their checking accounts and how much they are paying -- and perhaps overpaying -- to keep those accounts, and we revisit a recent interview with Darrell Cronk, chief investment officer at Wells Fargo Wealth and Investment Management.