Money Life with Chuck Jaffe

Kevin Mahn, president and chief investment officer at Hennion and Walsh, says that valuations are stretched and growth could be hard to find, but a new period of economic expansion coupled with a shift in market leadership -- with small caps and more coming to the fore -- will create new investment leaders for investors to pursue. He sees the rebound from coronavirus leading into a multi-year econ...

Two wide-ranging and very different Big Interviews both touch on bitcoin today with Giles Coghlan, chief currency analyst for HYCM, talking about how the skyrocketing price of bitcoin has impacted gold, how the cryptocurrency is increasingly viewed as a digital substitute for physical gold and the correlation between the two, especially with inflation on the horizon. Meanwhile, Scott Knapp, chief...

Noted value manager Abhay Deshpande of Centerstone Investors actually compares value stocks to toilet paper, noting that you might not be thinking much about them when market growth is humming along, but at other times they become really precious. Right now, Deshpande says, there are plenty of good values to be found in the market, so long as you are mostly willing to avoid the technology stocks....

Andrew Chanin of the Procure Space ETF -- ticker symbol UFO -- discusses how NASA's Perseverance mission to Mars has stoked interest in space as the next frontier in investing, and talks about how investors can keep their head in the stars but their feet on the ground when listening to fantastic stories of future potential. Also on the show, Jerremy Newsome of RealLife Trading talks technical anal...

Martin Fridson, chief investment officer at Lehmann Livian Fridson Advisors says he expects the Federal Reserve will get inflation up to its target of 2 percent, but that investors shouldn't expect much more than that despite the inflationary impact of economic stimulus, because there isn't rising pressure on wages that would be necessary to take inflation to problematic levels. Fridson discussed...

Markus Schomer, chief economist at Pinebridge Investments, agrees with the many observers who expect a booming economy as the coronavirus pandemic comes to an end, but he says that once the stimulus stops what will be left is an economy that is less productive with a lower long-term sustainable growth rate. While he doesn't expect runaway inflation or dramatically higher interest rates, digesting...

Robert Frick, corporate economist at Navy Federal Credit Union, says the economy will deliver stellar economic growth but that the deep hole it is coming out of will make progress slow, which is actually good news in that it means the pandemic recovery should last longer. Frick believes that inflation worries currently are overblown, saying that so long as unemployment is high and wage growth is l...

Jurrien Timmer, director of global macro at Fidelity Investments, says the 'reign of large-cap growth stocks may actually be ending,' with a weaker dollar and the first signs of rising inflation and the potential for higher interest rates triggering a market rotation that will favor small-cap, value and non-U.S. stocks. He also discusses the need for investors to start adjusting to inflation now,...

Dan Davies, author of 'Lying For Money: How Legendary Frauds Reveal the Workings of the World,' says that financial scams that revolve around trust thrive in the world's most open/free markets and are something of a necessary side-effect to commerce. Davies notes that if everyone avoided financial stories that 'sound too good to be true,' they would have missed out on success stories like Amazon.c...

Sheraz Mian, director of research at Zacks Investment Research says that the U.S. economy is likely to see economic growth more in line with emerging markets over the next few quarters, but he warns that much of that action has already been priced into the stock market, meaning the economic boom may not add much to the stock market rally. Also on the show, Jeffrey Ptak of Morningstar talks about r...

Doug Ramsey, chief investment officer at The Leuthold Group, says the stock market's current valuations remind him of 20 years ago, when the stock market was peaking as the Internet bubble market burst; he also says that the bond market is creating a bubble, but that the impact of the stock bubble will be greater when it bursts, which he thinks will occur late in or after the economic recovery fro...

Jason Brady, chief executive officer at Thornburg Investment Management, says that the economy is poised for strong growth, but that high stock valuations and continued volatility will create a divergence between the economy and market that reverses the trend of 2020, when stocks grew fast while the economy sputtered.  He suggests rebalancing portfolios because the 'trends that were in place for t...

Bryce Doty, senior portfolio manager at Sit Investment Associates and manager of a short-duration bond ETF, says that we're about to see 'the most synchronized global rebound in history for the economy,' noting that 'what comes with that is inflation' that most bond investors are not preparing for. Doty adds that while investors should be following a consistent long-term plan, they should leave so...

Fritz Folts, chief investment strategist at 3EDGE Asset Management, says while there are many reasons to be confident in the stock market, he worries that the plusses already have been priced in to current levels, especially because he thinks the market at current levels is significantly overvalued and that interest rates would have to stay as low as they are now for the next decade for prices to...

Preston Caldwell, senior equity analyst and head of U.S. economics at Morningstar Inc., says that coming out of the pandemic he expects gross domestic product (GDP) to hit 5.3 percent this year, to remain above 4 percent in 2022 but to decline to pre-pandemic -- and slowing -- levels of 2.2 percent by 2023, a burst that will propel the economy but that is not too long-lasting. In a second Big Inte...

Sameer Samana, senior global market strategist for the Wells Fargo Investment Institute, says that the technical outlook for the market is good, and likely to stay that way with low rates and a long upward equity trend. He noted that investors are being selective right now, looking for the biggest returns in areas that can stand out from the pack in current times, which is why gold has suffered in...

George Milling-Stanley, chief gold strategist at State Street Global Advisors, says that the recent blip in inflation isn't enough to send gold much higher soon, though it should have reminded investors of the precious metal's value as a hedge against inflation. He thinks that will be more valuable going forward, but said that there's still plenty of reasons to have a gold position and to expect i...

Joseph Brusuelas, chief economist for RSM, says the economy will boom in the next year or two in ways 'you haven't seen since the late Reagan Administration.' But even though the economy will fire on all cylinders, he says it will not return to the pre-pandemic status quo, with 'permanent economic scarring' in some sectors and in employment that could last for many years. Also on the show, Patrick...

Kristina Hooper, chief global market strategist at Invesco, says that a re-opening post-pandemic economy will release pent-up demand that fuels significant growth, overcoming current inflation concerns and more. She points to countries like Israel and Great Britain -- which are closer to full re-opening than the United States -- and says the economic strength shown there is a pattern the US is lik...

Paul Wick, long-time manager of the Columbia Seligman Communication and Information Fund -- one of the most successful sector funds in history -- says that the long bull market in technology was built on top of falling interest rates, and that the next quarter-century will see a different rate trend that forces investors into more muted expectations. Wick says, however, that there are still reason...

Neil Azous, chief investment officer at Rareview Capital, says that 10-year real US interest rates -- which have been on the rise recently and which jumped on Thursday -- are 'the most impending danger' to investor portfolios. He says the market is now acting as if the pandemic is nearly over and says that investors need to be thinking of the big economic themes beyond the re-opening, including th...

Lucas White, portfolio manager for resources and climate-change strategies at GMO big-oil is due for a big rally. He notes that while oil prices are up 20 percent in the last year, they are still well below pre-pandemic levels, which gives them the potential to register massive gains as the economy starts to shake off its pandemic slumber. Also on the show, Tom Lydon of ETFTrends.com talks about S...

Stephen Dover, chief market strategist for Franklin Templeton, says in the Big Interview that he sees a rise in inflation, but thinks the economy can put off any serious bump in prices for as much as three years. He recognized the problems and issues for both stocks and bonds, but still says that investors should stick with domestic and international markets for stocks and bonds to take advantage...

David Souccar of the Vontobel Quality Growth fund says there are two markets right now, one featuring very speculative stocks and the other being real growth opportunities, and he notes that 'What you do not own will be as important as what you do own when we get out of this.' But Souccar isn't the only guest expecting tough sledding ahead for the market, as Jeffrey Bierman of TheoTrade.com notes...

Scott Helfstein, executive director of thematic investing at ProShares, says the big investment themes of 2020 -- stay-at-home/work-from home, cloud computing, cyber security, remote technologies, streaming, gaming and e-commerce among them -- were driven less by consumer sentiment than by underlying fundamentals, and that solid footing will keep those sectors rolling even as the economy emerges f...