Money Life With Chuck Jaffe Daily Podcast

Stan Haithcock, also known as 'Stan the Annuity Man,' said investors should be wary of sales pitches for indexed annuities, which are advertised nationally but regulated by states, leaving consumers hearing 'potential, hypothetical, theoretical back-tested, hopeful, non-guaranteed, agent-created return scenarios' about products likely to disappoint in the long run. Also on the show, Tom Lydon of ETFTrends.com makes an emerging-markets bond fund his ETF of the Week, Greg McBride discusses the Fed's Wednesday meeting and what it means for the market and economy for the rest of the year, and we rebroadcast a recent interview with Brian Beitner of Chatauqua Capital Management.

David Jilek, chief investment strategist at Gateway Investment Advisers, said that bonds may not be the best way for investors to reduce risk in the current market, given where we are in the interest-rate cycle. Also on the show, Jeff Kelly, Jimmy Hausberg and Ray Baraldi of HighTower Advisors discuss whether investors should have long-term bonds in their portfolios now, Jill Gonzalez of WalletHub.com talks about the best frequent-flier programs, and David Miller of the Catalyst Mutual Funds has the Market Call.

Rich Guerrini, chief executive officer at PNC Investments, said that investors should recognize that they are nearing the end of a growth cycle -- though he does not expect that cycle to end until 2020 or later -- and that there is real risk behind current events, but he warned against being spooked out of the market when prospects the economy remain solid. Also on the show, Chuck answers an audience question about the 'Rule of 100,' Karen Arth of Key Bank discusses family dynamics in estate planning and Ian Mortimer of the Guiness Atkinson Global Innovators fund talks stocks in the Market Call.

Terri Spath, chief investment officer at Sierra Investment Management said that the market has plenty of current opportunities, but investors will be better served being selective and picking specific securities rather than buying indexes, noting that the market tends to 'take the escalator up, but the elevator down' meaning there could be significant bumps in the road ahead. Also on the show, Leonard Wright of the AICPA discusses retirees' most significant worries, author and financial adviser Eddie Ghabour talks about what it means to be a 'Common-Sense Bull' in this market, and Kyle Guske of New Constructs discusses why companies reaching for certain balance-sheet results are creating a dangerous false narrative.

John Waggoner, senior associate editor at Kiplinger's Personal Finance, discussed his research looking at how mutual funds performed during the market's late 2018 downturn and the snap-back rally in January and said that the market's 10-year-long rally gives investors few chances to see how a fund will perform in a downturn, making the recent experience relevant and important for investors worried about how their funds will weather future storms. Also on the show, Ken Schapiro of The Robo Report discussed the performance of robo-advisors over the last decade, author Niall Gannon discussed 'Tailered Wealth Management,' and Fidelity's Keith Bernhardt talked about required minimum distributions from retirement accounts.

Joe Davis, global chief economist at The Vanguard Group, said that despite significant headline risks, and slower rates of growth, the economy keeps chugging along and the stock market should mostly be moving forward with it. Davis said he entered the year with the Fed and interest rates as the top risk facing the market and he said much of that concern has been abated; trade issues -- his second-biggest concern -- are now the top worry. Also on the show, Tom Lydon of ETFTrends.com has the ETF of the Week, author Pat Garofalo discusses his book 'The Billionaire Boondoggle," and Fidelity's Begonya Klumb discusses health-savings accounts.

Brian Beitner, portfolio manager of the Chautauqua International Growth Fund, said that trade wars with China have caused both sides to advance purchases in order to avoid tariffs, which could result in a purchasing slowdown soon, which could trigger a technical recession, not enough to result in massive layoffs but enough to send shock waves through the equity markets. Beitner said the case for international investing -- especially in China -- remains strong, despite the dangers. Also on the show, Peter Lang and Michael Sheldon of HighTower Advisors revisit a classic and discuss active versus passive management styles, Ted Rossman of CreditCards.com covers a recent survey on which type of rewards consumers prefer, and Leah Bennett of Westwood Wealth Group talks stocks in the Market Call.

Giorgio Caputo, head of multi-asset strategies at J.O. Hambro Capital Management, said that the equity market is acting like the economy is strong and can keep rolling, while the bond market is nervous that trouble is mounting, leaving the Federal Reserve and its rate strategy as what may be the primary determinant of how the market goes for the rest of the year. Also on the show, Deborah Kearns of BankRate.com discusses a survey showing that homeowners often have buyer's remorse about their home, Zach Jonson of Stack Financial Management looks at the market's technicals and sees a bull with room to run for a bit longer, and Manny Weintraub of Integre Asset Management talks stocks in the Market Call.

John Blank, chief equity strategist and chief economist at Zacks Investment Research said investors should expect surprise rallies and retracements, but the market isn't going to make a strong bull move until August or later. Also on the show, Jill Gonzalez of WalletHub.com discussed their recent survey on how many Americans expect to miss a credit-card payment this year, David Trainer of New Constructs talked about the Lyft initial public offering and why the company -- with virtually no prospect for earnings -- is a trap. Also, Greg Woodard, portfolio strategist for Manning and Napier talks stocks in the Market Call.

In a day filled with talk about the market, Axel Merk of the Merk Funds said the market is getting late in its current cycle and that it is likely to have a tougher tmie making gains going forward. He suggested that investors rebalance their portfolios to lock in gains and reposition themselves for the tougher sledding to come. Before that, however, Matt Harris of HighTower Wealth Management noted that the market's technical signals are suggesting that a slowdown is coming, but he said the catalyst for real trouble is not yet visible. And Avi Gilburt of Elliot Wave Trader said he expects the Standard & Poor's 500 to test recent resistance levels of 2,600 and to go as low as 2,200 if it breaks through, yet he is also forecasting a snap-back rally that will take the index to 3,200 -- and as high as 4,100 -- by 2022-23. Also, Chuck discusses the 10-year anniversary of the start of the bull market and what it means for investors.

Fritz Folts, chief investment strategist at 3EDGE Asset Management said that while domestic markets look like they can continue to run, valuations are stretched, making emerging markets and gold much more appealing right now. Folts noted that he is completely avoiding Europe and Japan right now and noted that economic and market conditions going forward will depend on the skill of the Federal Reserve in avoiding trouble. Also on the show, Tom Lydon of ETFTrends.com talks financial technology with his ETF of the Week, Mark Hamrick of Bankrate.com talked about the regrets many people have over how student-loan debt affects their lives, and Mike Liss of the American Century Value fund has the Market Call.

Krishna Memani, chief investment officer at OppenheimerFunds, said that the global economy and global growth are softening, but the policy framework is holding strong, allowing the markets to move forward and stay positive for the long-term. Memani said he believes the Fed is done with rate hikes for the year, and noted that the recent rally may have been overdone, meaning that stocks could tread water for awhile before continuing to climb. Also on the show, Michael Sheldon and Peter Lang of HighTower Advisors discuss their concerns for the rest of the year, Terry Jones of Investors' Business Daily discusses the bounce-back in optimism among investors, and value manager Jeff Auxier of the Auxier Focus Fund has the Market Call.

 Dan Zanger, chief technical analyst at ChartPattern.com said that the market is likely to chop sideways -- stuck between the 2,650 support and 2,810 resistance levels on the Standard and Poor's 500 -- until we see the direction of the next quarter's earnings releases, which start coming out in mid- to late April. Also on the show, Jill Gonzalez of WalletHub.com discussed the top hedge-fund stocks from 2018, author Nathan Latka talked about his ideas for getting rich  even if you lack capital, and we re-broadcast a recent Market Call interview with George Putnam III of The Turnaround Letter.

After watching Warren Buffett apologize for taking a $20 billion write-down for Berkshire Hathaway's investment ni Kraft Heinz, David Trainer of New Constructs said the problem highlights trouble ahead for value investors, who he says have been looking at the wrong metrics and following the pack, which has them headed for trouble. Also on the show, Brandon Thurber of Regions Asset Management said that the market is going through a 'pro-risk on environment for equities, at least for now.' while Rosanna Landis Weaver of As You Sow discussed her group's list of the 100 Most Overpaid CEOs for 2019, with Rob Lutts of Cabot Wealth Management in for the Market Call.

Neal Dwane, global strategist at Allianze Global Investments, said he believes current market optimism over trade issues with China may be misplaced, noting that the excessive optimism could bring an end to recent relief rallies, and he noted that the bigger potential for trouble lies in a potential global debt crisis where central banks have taken on so much debt that they can't buy more, making it hard for the Federal Reserve to raise rates without tanking the market and the economy. Also on the show, tax litigator Dan Pilla discusses why IRS refunds are down so far this year and if that's a bad sign, we rebroadcast a recent chat with Adam Grimes of Talon Advisors, and Eric Ervin of Blockforce Capital talks dividend stocks in the Market Call.

Bill Nygren, legendary manager of the Oakmark Fund, discussed how the disappointment of the market late in 2018 actually was a great time for investors like him who want to buy businesses with solid long-term prospects at reasonable prices. With prices falling but earnings staying high, Nygren said investors could take advantage of the market becoming disconnected from its fundamentals. Currently, he likes financial stocks, consumer durables like automotive and industrial companies, and he's sour on supposedly safer investments like utilities, which he says are fully valued. Also on the show, Tom Lydon of ETFTrends.com had volatility on his mind with the ETF of the Week Economy, and David Brown of Sabrient Systems talked about his firm's latest Baker's Dozen of stocks in the Market Call

Jeff Weniger, director of asset allocation at WisdomTree Asset Management, said that investors should be looking beyond trade wars and Brexit to what's really going to move markets, and noted that he expects emerging markets to outperform and Europe to underperform once the headlines get past current concerns. Also on the show, Michael Sheldon and Peter Lang of HighTower Advisors discuss -- and disagree on -- the parts of the market they like and worry about now. Ted Rossman of CreditCards.com looks at a survey which shows more debt problems for average Americans, and Mark Salzinger of The No-Load Fund Investor talks mutual funds and ETFs in the Market Call.

Scott Colyer, chief investment officer at Advisors Asset Management, has long advocated that investors avoid fighting the Fed, but right now he suggested that they continue riding earnings trends higher, even as they become wary of a building recession. Colyer noted that investors should be looking to miss a recession, which he sees coming but potentially not for a year or more. Also on the show, aauthor Bart McDonough discusses cyber security and how consumers can better protect themselves, and Martin Leclerc of Barrack Yard Advisors talks stocks in the Market Call.

Mark Fleming, chief economist at First American Financial, said the housing market is under-built and the lack of inventory has made the market overly sensitive to changes in mortgage rates, a trend he expects to continue at least through the end of the current rate-hike cycle. Also on the show, Matt Schultz discusses the latest survey from CompareCards.com, David Trainer puts two big-name stocks in the Danger Zone, and Noland Langford of Left Brain Capital Management has the Market Call.

Ron Sanchez of Fiduciary Trust Co. International said that investors have gotten past the confidence-shaking drop of December, but they should be cautious now because stories about global growth, interest rates and international trade events will go a long way to determining whether the market can continue climbing this year. Also on the show, Michael Gayed of Pension Partners said that the market's technicals also should put investors into wait-and-see mode, as they suggest that stocks are overbought and awaiting a catalyst before a downturn. Thomas Winmill of the Midas Fund talked about gold and precious metals investing -- also fitting into the theme of uncertain times -- and Greg McBride of Bankrate.com discussed a recent survey which showed that 74 million Americans have more in credit-card debt than in emergency savings.