Money Life With Chuck Jaffe Daily Podcast

Veteran technical analyst Martin Pring of Pring Research said he expects the stock market to avoid a recession and keep going much higher, noting that the indicators he follows are almost all 'pointing north' as the market ignores any weakness it sees in the economy. He noted that if bad news can't knock the market down, there's not much out there right now that can. Also on the show, Sheraz Mian, director of research at Zacks Investment Research discussed the upcoming earnings season, which he suggested is likely to beat analyst expectations, plu we rebroadcast a recent chat covering market technicals with Buck Klintworth of Chase Investment Counsel and Keith Gangl of Gradient Investments makes his debut in the Market Call.

Chun Wang, senior analyst at Leuthold Weeded Asset Management, said that his firm's analysis of the market has made the portfolio managers defensive, slightly below neutral on holding stocks, largely because the long-term picture is showing too many negatives, signs that there could be trouble ahead with a significant correction or bear market in the next year or two. Meanwhile, Lindsey Bell of CFRA Research noted that current conditions appear solid, but that second-quarter earnings results will say a lot about whether hte market can avoid a downturn for the rest of the year; she expects those upcoming quarterly numbers to be better-than-anticipated, allowing the market to at least retain current gains for the rest of the year. Also on the show, Tome Lydon of ETF Trends.com talks about an usual precious metals fund, and Jill Gonzalez of WalletHub covers travel credit cards.

Doug Foreman, chief investment strategist at Kayne Anderson Rudnick, said that investors have plenty of reasons to worry about whether the market can hold recent highs, but that if they focus on quality issues, there are plenty of cmopanies worth buying and owning regardless of what the market does next, where investors can buy into strong cash flows and dividend streams that are likely to remain in place even if the market turns for the worse. Also on the show, Cory Bittner and Peter Lang of HighTower Advisors discussed how financial planning helps clients cross the divide from working and accumulating funds to retirement and living off of investments, Izet Elmazi of Bristol Gate Capital Partners discusses how he uses artificial intelligence to help find better investments and manage portfolios, and Jose Rowe of LendingTree discussed a recent MagnifyMoney.com survey on money anxieties.

Markus Schomer, chief economist at Pinebridge Investments, said that while job growth and economic activity are slowing, the anticipated interest rate cuts should reboot business activity and leave the economy at an equilibrium point it can maintain through 2020. Buck Klintworth of Chase Investment Counsel -- while discussing technical analysis rather than the economy -- came to a similar conclusion, noting that while the market is currently 'ahead of itself' and could be due for a short-term setback, declines will be buying opportunities from now through most of the election year, suggesting that investors ignore the noise and instead see the market's potential. Also on the show, Bruce Bond of Innovator ETFs discusses defined-outcome investing, which effectively crosses indexed-annuity products with exchange-traded funds, and Judith Ward of T. Rowe Price discusses a recent survey showing how far behind Baby Boomer women are compared to men when it comes to retirement savings.

A recent study by Fidelity Investments found that money and healthy living are the two greatest concerns that women have, and each often affects the other. Lorna Kapusta from Fidelity said that the surprise in the study was not that 85 percent of women are stressed about finances, but that the high level of stress exists across all age groups of women, meaning that women always feel like they are not doing enough to save and prepare for retirement. Also on the show, Ethan Powell, chief executive officer at Impact Shares, a not-for-profit ETF provider, Sam Mcbride of New Constructs leads a trip to the Danger Zone and the Market Call is a rebroadcast of a recent chat with Michael Roomberg of the Miller-Howard Drillbit-to-Burner.

In a wide-ranging, free-flowing 'no-pants Friday' show, Chuck talks with Tom Lydon of ETFTrends, who makes an innovative new fund his 'ETF of the Week,' he discusses the future of exchange-traded funds and the evolution of more active funds with John Swolfs, chief executive officer at Inside ETFs, he covers one of his favorite topics -- allowances for children -- with Bankrate.com's Ted Rossman, and then chats value investing, the state of the market and international opportunities with Nick Kaiser, chief investment strategist at Saturna Capital.

Christopher Davis, chairman of Davis Advisors and portfolio manager for the Davis Funds, said in the Big Interview that financial companies now represent 'growth stocks in disguise,' and he said the financial sector is positioned to deliver oversized gains for at least the next decade. Also on the show, Peter Lang and Cory Bittner of highTower Advisors discuss the many non-financial ways they interact with clients to achieve life goals as well as financial targets, Elyse Cherry of BlueHub Capital discusses impact investing and how investors can find ways to invest that make a real difference in communities they love, and Greg McBride from BankRate.com talks about how everyday Americans and financial experts don't see eye-to-eye on the state of the economy and stock market.

Kevin Mahn, president and chief investment officer at Hennion and Walsh Asset Management, said that while the economy is strong and still growing and the market is constructive toward stocks, investors should be focusing on quality, favoring companies with strong balance sheets, entrenched management, a history of growing earnings and dividends and more, noting that as the economy slows and election-year headlines take over it will be the issues with those qualities that stand out. Also on the show,Ted Rossman of CreditCards.com talks about how stressed Americans are over money, Mandi Woodruff of MagnifyMoney.com covers the places where someone might earn six figures but still go broke, and Mark DeVaul of the Hennessy Equity and Income fund talks stocks in the Market Call. 

Jill Gonzalez, spokesperson for WalletHub, said that her site's annual 4th of July survey found that millions of Americans are feeling more financial freedom this year, but that nearly one-quarter of Americans wish they could be free of credit-card debt, second by a hair only to over-eating as something people want to cut back on. The study also showed that Americans believe that the federal government is watching their spending, tracking their credit-card activity, despite no real proof or reason to believe it is. Also on the show, author Michele Cagan talks about real-estate investing to generate income streams, Sam McBride of New Constructs puts the Securities and Exchange Commission in the Danger Zone over a recent rules change, and we rebroadcast a recent Market Call with Charlie Bobrinskoy of the Ariel Funds.

Ron Sanchez, chief investment officer at Fiduciary Trust International, said that the current market environment is not great for taking risks, but it also isn't terrific for avoiding risks. That means investors should stay neutral on buying stocks and bonds, putting their portfolios at their basic, starting-level allocations, not overweight or underweight anything while waiting for signs from the market about what will happen next. Also on the show, Jeffrey Hirsch from the Stock Trader's Almanac talks technical analysis, Catherine Yoshimoto from FTSE Russell discusses the reconstitution of Russell's indexes -- which happens after today's market close -- and Doug Cartwright of the Buffalo Emerging Opportunities fund makes his debut in the Market Call.

In a show that covers a wide range of investment types and strategies, Tom Lydon discusses fallen-angel investing -- buying junk bonds from companies that used to be of investment-grade calibar -- in the ETF of the Week, Nick Kalivas of Invesco ETFs talks about the inner workings of low-volatility investing and the types of market conditions when it works best, and Joe Barrato of the Arrow Funds talks about the "Dogs of the World" strategy for investing in the worst-performing countries hoping for a return to average market performance, a gigantic global twist on the classic 'Dogs of the Dow' strategy. Also ont he show, Ted Rossman of BankRate.com on a recent survey showing how much credit debt many parents get into when school is out and they must provide summer child care.

Bob Browne, chief investment officer at Northern Trust, said in the Big Interview that the market is acting in ways that make it easy for the Federal Reserve to cut rates and he expects three rate cuts before year end, a response to what he called 'stuckflation' combined with modest economic growth. Also on the show, Peter Lang and Cory Bittner of HighTower Advisors discuss value investing and when or if it will really work again, Ted McCarthy of LendEDU talks about per-capita lottery spending, and David Brady of Brady Investment Counsel talks growth stocks in the Market Call.

Jim Welsh, macro strategist for Smart Portfolios and author of the Weekly Technical Review newsletter said that the market's various benchmarks are diverging, so that while the public attention has been on recent highs for the Standard and Poor's 500, they have been ignoring the mixed and dangerous signals coming from things like the Dow Transports. He expects the market to enjoy its current highs but to for the S-and-P to challenge recent support levels of 2,800 before Labor Day, noting that if the benchmark can't hold that level it could fall to around 2,350  quickly. Also on the show, author and attorney Michael Hackard discusses protecting your loved ones from financial fraud, Roch Polimeni of the College Savings Foundation talks about their annual survey of how high school students are now viewing college through the financial lens, and Brian Andrew of Johnson Financial Group covers funds and ETFs in the Market Call.

Sam McBride, investment analyst at New Constructs, said that misleading operating lease discount rates -- a statistic that is now more widely available and which is a big red flag for many companies, especially retailers -- are masking real trouble at J.C. Penney, making the struggling retailer's problems worse than most people surmise. As a result, McBride thinks the company is likely headed to bankruptcy. Also on the show, Chuck answers a question about Coca-Cola stock, Adam Peck of Riverwater Partners talks social investing and small-cap stocks in the Big Interview, and Michael Roomberg of the Miller/Howard Drill-Bit-to-Burner-Tip fund has the Market Call.

Adam Grimes of Talon Advisors, say that with the market having reached new highs, it's now getting more complex. He's still bullish, but he does see potential troubles down the line, making this a time when investors can be 'rewarded handsomely' for being aggressively long on stocks. John Sarson of the Sarson Funds explains in the Big Interview why 'The Internet and cryptocurrency go together like peanut butter and jelly,' Chuck explores the latest weird financial news, and Mike Bailey of FBB Capital Partners covers stocks in the Market Call.

Doug Roberts of Channel Capital Research -- author of 'Follow the Fed to Investment Success' -- said the central bank's announcement Wednesday that it did not expect to cut rates in 2019 but does expect to drop them next year was the start of trying to create a perfect landing, a situation he suggested will not be easy given the countervailing forces affecting the market and the economy. Also on the show, Tom Lydon of ETFTrends.com picks his 'ETF of the Week,' professor Andrea hasler discusses a recent survey about how educators feel when it comes to teaching personal finance in schools, and Brian Lockhart of Peak Capital Management discusses stocks and ETFs in the Market Call.

Regis Dale, chief executive officer at Harvest Global International -- the largest institutional asset manager in China -- said investors should worry about the impact of trade and tariff skirmishes between China and the United States, but noted that investors who are willing to be patient for the next several years should find that current headlines are mostly creating buying opportunities. Also on the show, Jeremiah Riethmiller and Steve Tresnan of HighTower Advisors disagree about the proper use of alternative investments now, Chuck rebroadcasts a recent question on 7702 plans that was tied to yesterday's question on life insurance retirement plans, and Patrick Healey of Caliber Financial Partners talks stocks in the Market Call.

Tracie McMillion, head of global investment strategy for the Wells Fargo Investment Institute, said her firm remains neutral on stocks overall -- but favorable on emerging markets and domestic mid-caps -- due to heightened risk factors, but she noted that with no recession on the horizon for the rest of the year, investors should be looking to buy on dips and take advantage of opportunities created by market uncertainty in a time when a big, long-lasting downturn seems unlikely. Also on the show, Amanda Dixon of Bankrate.com discusses Americans' side-gig habits, Chuck takes another question on insurance plans for retirement savings, and Charlie Bobrinskoy, vice chairman of the Ariel Funds, talks stocks in the Market Call.

Barry James, chief investment officer at the James Advantage Funds, said the market is not functioning properly because companies with no earnings have been up by 20 percent this year, while, by comparison, companies with real earnings are down, a situation that creates the potential for a big downturn when the broad market wakes up to what is happening. James has been slowly raising cash and becoming more defensive in response. Also on the show, Kelley Knutson of Netspend on Americans' fluctuating incomes, Steve Lipper of the small-cap team at the Royce Funds talks the market, and David Trainer says a soon-to-launch IPO belongs in the 'Danger Zone.'

Frank Holmes, chief executive at U.S. Global Investors, said he sees the market currently in a good place, helped by the changing tide of interest rates, but he noted that investors should be looking to diversify into gold and fixed-income to take advantage of that shift as it occurs during a time of slowing economic growth that will make for tougher sledding for stocks. Also, Danielle Shay of SimplerTrading.com said that the resolution of trade issues with Mexico was a strong short-term win for the market, which she now expects to settle into a range until the next earnings season in July, which could prove to be a catalyst for a move higher. Cather Golladay of Schwab Retirement Plan Services discusses the magic number that Americans think they need to amass for a secure retirement, and we rebroadcast a recent Market Call interview with Mike Larson of Weiss Ratings and Weiss' Safe Money Report.