Money Life with Chuck Jaffe

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Franklin Templeton's Dover: With the big picture chaotic, focus on the micro Mar 08, 2022

Show notes

Stephen Dover, chief market strategist at Franklin Templeton Investments, says that the experts have been off the mark in forecasting how the market would respond to the war in Ukraine, to rising inflation and more, which has him focusing on individual stocks and their fundamentals rather than letting the macro-economic outlook determine investment positions. Turning to the market's technicals, Michael Kahn, senior market analyst at Lowry Research Corp., says the current decline is not yet a buy-the-dip opportunity, and that he will remain on the sidelines until the tide turns and investors start rushing to put their cash to work. nd in the Market Call, David Harden, chief investment officer at Summit Global Investments, talks during the Market Call about managing volatility in stocks during these back-and-forth times.

WisdomTree's Weniger: Expect big job gains to power the economy, market Mar 07, 2022

Show notes

Jeff Weniger, head of equity strategy at WisdomTree Asset Management, says he expects unemployment to drop potentially below the 3 percent level -- which is better than so-called 'full employment' -- which takes 'the stag' out of stagflation possibilities. With the jobs market not being stagnant, Weniger says the economy can power through rising inflation and interest-rate concerns to keep moving forward, even if consumers and investors suffer some discomfort along the way. Also on the show, David Trainer re-visits Danger Zone picks Shopify and Coinbase after their recent earnings reports and says that the big recent declines in each stock are still just the beginning of the problems for investors who stick around. In the Market Call, Bernie Horn of Polaris Global Value talks stocks and the impact that the war in Ukraine is having on global markets.

Fairlead's Stockton: The war isn't why the market is range bound Mar 04, 2022

Show notes

Katie Stockton, founder at Fairlead Strategies, says the market appears to be in a long-term trading range for 2022, not because of the geopolitical concerns over war in Ukraine or the worrisome inflation numbers or pressure on interest rates at home, but instead based on technical reasons which show that the major indexes have lost upside momentum and will struggle to get it back. In the Big Interview, Scott Knapp, chief market strategist for CUNA Mutual Group, says that the conflict in Ukraine has changed the headlines, but it shouldn't have changed portfolios much because economic struggles were easy to foresee at the end of last year; likewise, he's not changing his outlook or strategy for 2022 until he sees a slowdown in demand and a reduction in gross domestic product. This show also features John Cole Scott of Closed-End Fund Advisors and the Active Investment Company Alliance, discussing the promising investments created by an important recent evolution in closed-end funds, and Kevin Kelly of Kelly ETFs -- a firm with funds specializing in gene-editing technology, residential and apartment real estate, and hotel and lodging companies -- talks stocks in the Market Call.

AGF's Valliere: The Fed has the tools to hold off recession Mar 03, 2022

Show notes

Greg Valliere, chief U.S. policy strategist at AGF Investments, says that several interest rate hikes will not sour the economy now, so that if the Federal Reserve doesn't go too far on tightening, there's no reason for a recession. Valliere says that he does expect more recession concerns at the start of 2023, as the economy digests the protracted impact of not just rate hikes but inflation, waning economic stimulus and the offshoots of the war in Ukraine. Also on the show, Tom Lydon of ETFTrends.com makes a trending commodities fund -- sensitive to both the war and inflation -- his ETF of the Week, Catherine Collinson of the Transamerica Center for Retirement Studies discusses the savers credit and how a majority of Americans don't know that it exists, let alone how to claim it when filing their taxes, and Stephen Dodson of The Bretton Fund talks value investing in the Market Call.

Strong consumer, firm economic foundation will propel growth through trouble Mar 02, 2022

Show notes

Mark Luschini, chief investment strategist for Janney Montgomery Scott, says that the market is working its way through a correction -- troubles exacerbated by the war in Ukraine -- but that hasn't dampened the economic underpinnings or deflated the spending desires of consumers, which should help growth in corporate earnings pick up and push the market higher later this year, leading to 'pretty flattering returns for investors' this year. Likewise, Brian Dress of Left Brain Investment Research says that the 'green shoots' of recovery are starting to show, but warns that the recovery will not be V-shaped and fast, requiring the market to return to the normalcy of posting 'good reactions to good news' that has been missing early this year. In the Market Call, Malcolm Polley of Stewart Capital Advisors talks about picking stocks through the lens of 'business perspective investing.'

War is changing Fed's battle plan and holding market to a range Mar 01, 2022

Show notes

Marty Fridson, chief investment officer at Lehmann Livian Fridson Advisors, says that the war in Ukraine has become integrated along with other concerns -- most notably heightened inflation -- which may not stop the Federal Reserve from going ahead with planned interest rate hikes this month, but make it likely that any rate moves will be smaller and more controlled. Mish Schneider, director of trading education at MarketGauge.com says that while the stock market has been volatile throughout the first few days of fighting, she expects it to be stuck in a range for a while as the situation plays out and while the potential fallout remains murky. She sees long-term opportunities, but urges caution now. Also on the show, Rod Griffin of Experian explains how 'credit invisibles' now have more and different tools (such as Experian Go) to help build credit and get on the radar screen of the credit bureaus and establish a personal history, and Lance Canon of Hood River Capital Management talks about investing in small-cap stocks during the Market Call.

ARK Innovation 'hoodwinks' investors; expect a big fall, says Trainer Feb 28, 2022

Show notes

David Trainer, president at New Constructs -- a data firm that analyzes funds and stocks -- says that the hugely popular ARK Innovation Fund is fooling investors into believing that innovation itself is an investment strategy or asset class, and he notes that many of the holdings are simply early entrants to an industry with little or no competitive edge. That's why a number of the fund's biggest and best-known holdings have been in the Danger Zone, which is where he puts the ETF itself this week, noting that while ARK Innovation has lost about half of its value since the start of 2021, he believes it could fall another 70 percent from here. Also on the show, Chuck talks about how long geopolitical events typically effect the market, Giorgio Caputo, senior fund manager at J.O. Hambro Capital Management, discusses how investors can get through the interest rate and inflation transitions and how to invest once the higher-rate environment arrives, and Adam Coons, portfolio manager at Winthrop Capital Management, talks ETFs in the Market Call.

Oakmark's Nygren: Focus on the long term, not on current events and chaos Feb 25, 2022

Show notes

Bill Nygren, co-manager of the Oakmark Fund -- whose three-decade track record has made him an investment legend -- says that while the video from the Ukraine is distressing and the headlines about interest rates and inflations are worrisome, investors need to stay focused on the long run. Nygren says that he doesn't think 'any of the events we are seeing in the world today will meaningfully affect our estimates of business value,' though he notes that they will move prices to create buying opportunities that will pay off in time. There's also more talk on value investing as Mike Liss of the American Century Value Fund talks 'relative value' and stocks in the Market Call. And in The NAVigator segment, Mike Taggart of Taggart Fund Intelligence and the Active Investment Company Alliance, says that investors seeing discounts widen in closed-end funds due to current market confusion will find that these conditions make it important to buying the underlying asset and not just the biggest discounts.

'The Fed's going to have a hard time getting inflation down to 2 percent' Feb 24, 2022

Show notes

Eddy Vataru, portfolio manager for the Osterweis Total Return Fund, says that inflation will remain a hot-button topic for investors for several years because the Federal Reserve 'is going to have a really hard time getting 6 or 7 percent inflation down to 2, which is their longer-term target.' Vataru says that how the Fed accomplishes that and the tools they use to reduce inflation will go a long way to determining what the stock and bond markets are capable of achieving and the results they can deliver. Also on the show, there's a new ETF built specifically to take advantage of opportunities in inflationary times, and Tom Lydon of ETFTrends.com makes it the ETF of the Week, and in the Market Call, Christopher Zook, president of CAZ Investments discusses long-term, thematic investing at a time with so many short- and intermediate-term headlines and worries.

'Neither US nor China can afford a trade war;' but avoiding one will be hard Feb 23, 2022

Show notes

Author James Fok discusses his new book 'Financial Cold War,' about economic relations between the United States and China, noting that the longer current tensions linger, the worse the situation gets for both the countries and their citizens. Making the situation worse, Fok says, are that people in both countries are finding it harder to get by, and with politicians glossing over domestic issues and deflecting to an outside enemy, it is stoking the flames of nationalism and making it harder to avoid a damaging economic donnybrook.Also on the show, David Goodsell of the Natixis Investment Managers' Center for Investor Insight discusses a recent survey showing that investors have overblown return expectations that their advisers are struggling to bring in line with reality, and Eric Lynch, managing director at Scharf Investments and portfolio manager on the Scharf Funds talks in the Market Call about balancing upside potential against downside risk.

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