Money Life with Chuck Jaffe

Paul Gruenwald, chief economist at S and P Global Ratings says that the economy is being turned back on in the middle to late stages of the economic cycle, which is different from the standard exit from a downturn, raising questions about the impact and effectiveness of policy decisions going forward. Still, he remains constructive about the market, noting that the U.S. economy could come out of t...

Bob DiMella, co-head of municipal managers at MacKay Shields, discusses the surprise that muni bonds have been since the start of the pandemic, coming through what were expected to be tough times with superior performance among fixed-income investments and positioned to be a leader in the bond space amid rising interest rates and inflation in the future. Also on the show, Randy Anderson of the Gri...

Barry Ritholtz, chairman of Ritholtz Wealth Management, says that the coronavirus pandemic and the current re-opening have economic parallels to what the United States experienced after World War II, noting that key industries and economic conditions will be changed forever. He believes that current concerns about inflation are overblown when viewed through a long-term lens, and expects economic s...

Mark Travis, president of Intrepid Capital Management, says in the Market Call that there will be a battle going forward between the Federal Reserve and the marketplace and Treasury yields -- where various economic pressures will meet -- but that the brewing fight over rates and inflation have yet to negatively impact the stock market. It does have him looking at some securities and favoring their...

Dec Mullarkey, head of investment strategy at SLC Management, says that while inflation is rising, he doesn't expect it to reach the kinds of dangerous levels that could crash the stock market.  He notes that, historically, markets do well when inflation is under 4 percent, provided that spikes are avoided, which he believes the central banks globally will control. Still, he has tempered expectati...

Jason Thomas, chief economist at AssetMark, says that individual investors are focusing too much on near-term risk management at the expense of their long-term goals, noting that anyone with time frames of five years or more can be confident that current concerns about inflation, rising interest rates and more will not cause long-run economic scarring. He believes that domestic markets will remain...

Terri Spath, founder and chief investment officer at Zuma Wealth, says the market seems to be in the middle of a correction now, with a choppy trend that is challenging investors' patience and judgment. She says investors are having a tough time determining if inflationary pressures are transient and temporary or if they represent real trouble, and she says that story will play out in the currency...

Sam Stovall, chief investment strategist at CFRA Research says that there are plenty of reasons for investors to be concerned about the stock market now, though he notes that since World War II the market has mostly avoided significant downturns in the month of June. He is not opposed to turning defensive and rotating into health care and consumer staples -- rather than retreating from potential t...

Axel Merk of Merk Investments says that the stock market is due for a correction, but not necessarily a bear market, noting that the economic recovery has gone far and that the reopening will fight some of the downward pressures. Merk says that while the market is seen as being 'different' right now, the traditional 'sell in May and go away' thinking might be in place, at least through Labor Day;...

Market forecaster Harry S. Dent Jr. says the next stock market crash -- which he thinks could hit as early as the next six weeks -- will be a 50 percent decline in two to three months, but he says that the decline is a re-set needed to pass a bubble and that the carnage will be over by late in 2022 or 2023. 'The upside is limited, the downside is somewhere between 65 and 80 percent on stocks,' he...

Economist Lacy Hunt of Hoisington Investment Management says that the economic rebound and recovery is peaking now, in terms of growth rates, and he believes that later in the year economic growth will be well below the pre-pandemic levels of 2019. He believes that the stimulus efforts will prove to be temporary help, but will leave behind debt that will lead the economy to 'death by slow strangul...

Meir Statman, professor at Santa Clara University and one of the world's leading experts on behavioral finance, talks about the approach he took when looking into making a major donation of his own money, and the decision-making that prompted him to give generously 'with a warm hand,' rather than waiting until his death. He also discusses why he doesn't rebalance his portfolio, or stick to a commo...

Jason Hsu of Rayliant Global Advisors says that China -- which was first into and first out of the pandemic -- is a good economic precursor for the rest of the world to watch now, as its stock market euphoria from 2020 has backed off with more mundane returns this year. Hsu notes that China's path through the pandemic was different than for much of the world, highlighting that there has been some...

Willie Delwiche, investment analyst for AllStarCharts.com, says that the market is on solid ground now, even as it enters the second year of a cyclical rally. He suggests looking for clues on where to invest from the current 'digestive phase,' which saw the market take a turn for the worse; despite that downturn, Delwiche notes that financials and materials stocks reached new highs, showing their...

Tom McIntyre of McIntyre, Freedman and Flynn -- who has been on the Market Call more than any other guest -- returns to the show and says that for the first time since the Reagan Administration, he is genuinely concerned about the prospect of rising inflation. He sees oil rising to 100 dollars a barrel and says commodity prices are showing upward pricing pressure every day. Also on the show, David...

David Ellison, manager of two Hennessy Funds focused on financial-services stocks, says that the market has technology companies trading at 15 times revenues while banks are trading at 10 times their profits, creating a valuation edge that 'makes it hard to see how [financials] will not do well over the next couple of years,' and that's before factoring in rising interest rates and other factors t...

Bill Stone, chief investment officer for Glenview Trust, says that current inflation may be on the rise, but the increase may be caused in part by bottlenecks in certain commodities that have caused prices to increase, and that pressure should ease over time. He expects value stocks to continue their recent outperformance over growth during the rest of the year, with a strong economic recovery and...

Alan Gayle, president of Via Nova Investment Management, says that the light at the end of the pandemic's tunnel is getting brighter and that as conditions improve the astronomically high expectations for economic growth keep moving higher, as do the already heightened expectations for Standard and Poor's 500 earnings. 'The overriding theme,' Gayle says, 'is that the fundamentals continue to impro...

It's a wide-ranging show today with Mish Schneider of MarketGauge.com talking technical analysis and worrying about the status of the dollar and how it appears to be weakening, and Andy Kapyrin of Regent Atlantic discussing the Biden Administration's tax-overhaul proposal, which would raise capital gains taxes on the wealthiest Americans to more than 40 percent. Stan Haithcock, 'Stan the Annuity M...

David Trainer of New Constructs revisits three past 'Danger Zone' picks that recently reported earnings that the market could take as a positive but that he feels continue to mask deep underlying problems. Trainer believes two of the three companies ultimately could prove worthless, but even if they don't he says that all three stocks are dramatically overpriced based on their realistic prospects...

Lawrence McMillan of McMillan Analysis and OptionStrategist.com says he is tightening up his stops right now, because the market is showing a few subtle danger signs within mostly positive trends. He worries that the market -- and particularly the Nasdaq, which has struggled while other indicators have flirted with new highs -- could be in for a short, sttep downturn before they can build off of p...

With the stock market near record highs and up nearly 50 percent in the last 12 months, big gains aren't all that impressive. But Baron Partners Fund -- which gained 45 percent in 2019 and nearly 150 percent in 2020 -- has now racked up a 165 percent increase over the last 12 months, more than three times the return of the broad stock market and is the number one fund in its category in every time...

Emily Roland, co-chief investment strategist, John Hancock Investment Management, says that the economic and corporate fundamental pictures are 'absolutely awesome' right now, but she notes that after parabolic returns off the bottom like we have seen in the last 12 months, the market tends to become more choppy, volatile and challenging. While she is bullish -- believing that new economic and mar...

Ed Clissold, chief US strategist at Ned Davis Research, says that the stock market should remain strong while the economy gets back to full speed, but he notes that things could change quickly thereafter and says investors will want to get defensive. He does not expect a recession or significant bear market, but believes investors will want to play defe3nse and choose buying opportunities carefull...

Stan Haithcock -- better known as 'Stan the Annuity Man' -- joins Chuck to help savers and investors understand where annuities fit into an investment program at a time when many people are scared about how far the market could fall from record highs. haithcock -- who has been described as 'the walking middle finger of truth for the annuities industry' -- gives his fundamental lessons that allow c...