Money Life with Chuck Jaffe

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Sincere says if any of the Mag 7 struggles, 'This market is going down, and hard' Jan 17, 2024

Show notes

Technical analyst Michael Sincere of Michael Sincere's Long-Term Trader sees the market as being ready to struggle in 2024, but he notes that trends in earnings will do the most to determine how it turns out, and if any of the Magnificent Seven stocks -- which spearheaded the market's dramatic gains in 2023 -- should stumble, he forecasts a major market decline. Chuck Mitchell of The Conference Board discusses the group's "C-Suite Outlook for 2024," which showed that top executives both domestically and abroad are scared of inflation and a potential recession, but most say they have not prepared for those potential outcomes yet. Plus, financial adviser Christopher Manske discusses his new book, "Outsmart the Money Magicians: Maximize Your Net Worth by Seeing Through the Most Powerful Illusions Performed by Wall Street and The IRS" and, in the Market Call, Kevin Rendino, chief executive officer at 180 Degree Capital, discusses value investing and activist management in small- and micro-cap investing.

First American's Fleming: 'Not pandemic hot, not monetary tightening cold' Jan 16, 2024

Show notes

Mark Fleming, chief economist at First American, expects the housing market to be better in 2024, and while it won't be as hot as it was during the pandemic nor as cold as it was after that run, "it's not quite right yet either, just better." He says the Federal Reserve's actions -- and he expects three or four rate cuts this year -- will determine just how strong the economy and the housing market are this year. Still, he thinks a downturn for the broad economy could actually help the real estate market. Bryan Armour, director of passive strategies research at Morningstar, discusses last week's Securities and Exchange Commission approval of spot bitcoin ETFs, and how investors should size up the resulting boom of new cryptocurrency funds. In the Market Call, Michael Campagna, senior investment analyst at Moerus Capital Management talks about global deep-value investing.

RSM's Brusuelas: 'It's a soft landing,' and a mid-cycle take-off could be next Jan 12, 2024

Show notes

Joseph Brusuelas, chief economist at RSM, says that the market "is a bit out over its skis" in terms of when the Federal Reserve will start cutting interest rates and how many cuts will happen in 2024, but that may create volatility and determine whether there is another rally in the current cycle. Brusuelas says the economy is in the middle of a soft landing and keeps looking strong, which should mute or limit just how much slowing happens moving forward. Jeffrey Bierman, founder of The QuantGuy.com and chief market technician at TheoTrade.com, says the market is overextended and due for a "garden variety 10 percent correction," but there is room for investors to hunt and peck for opportunities. Also on the show, Aaron Filbeck of the Chartered Alternative Investment Analyst Association says that it's naive for investors to lump a wide range of mainstream investment options under the label of "alternative." Plus, Justin Carbonneau of Validea.com talks about the expert methodologies that are working the best in current conditions and how to build the ideas of money-management legends into your portfolio.

Crossmark's Doll: 'It's going to be tough making money in the stock market this year' Jan 11, 2024

Show notes

Bob Doll, chief investment officer at Crossmark Global Investments, returns with his annual forecasts for the stock market, the economy, the financial industry and more in the year ahead. He notes that the consensus for 2024 is a soft landing, but he thinks the lagged impact of everything that cause recessions -- massively higher interest rates, retail inventory levels rising, savings rates coming down and more -- will finally lead to a mild recession in the middle of this year. Doll also thinks that stocks could finish the year in the red. Also on the show, Tom Lydon of Vettafi turns to an actively managed short-term bond fund for his ETF of the Week, and Mike Bailey, director of research at FBB Capital Partners, talks "beat and raise investing" in the Market Call.

Lindsey Bell: In a 'return to normal,' tech stocks are a good defensive play Jan 10, 2024

Show notes

Lindsey Bell, chief strategist at 248 Ventures -- formerly chief markets strategist at Ally Invest -- is optimistic that the stock market can avoid big troubles in 2024, and is looking for a "return to normal,' in terms of the market's breadth of movers and returns. still, she includes technology stocks -- typically considered an aggressive play -- as part of the defensive plans that investors should be making for the year ahead. She also talks about the norms she expects to see maintained in international investing and more. Greg McBride, chief financial analyst at BankRate.com talks about his forecast for all types of interest rates in 2024, and while the rate picture is different from the market situation, he too is looking for more of a return to traditional expectations. In the Market Call, Leah Bennett, president of Westwood Wealth Management, talks stocks.

Market's bounce 'looks like the beginning of a bull market' Jan 09, 2024

Show notes

Veteran technical analyst Martin Pring of Pring Research is "very optimistic over the next 12 months" because the stock market's bounce since October "looks like the beginning of a bull market," with expanding breadth and economic indicators turning up to where indicators are bullish for stocks and bonds now. Pring makes an educated guess that the market could run up to 5,400 on the Standard & Poor's 500, but notes that if the indicators change -- which he would expect after the election next fall -- the bull market could end quickly. In The Big Interview, Alex McGrath, chief investment officer at NorthEnd Private Wealth, says that while the market has been rebounding, it hasn't ecaped concerns about a recession and about the future financial health of the consumer, so he's rotating into defensive positions and looking to be opportunistic in 2024. Also on the show, Howard Silverblatt, senior index analyst for S&P Dow Jones Indices discusses how companies got more cautious late in 2023 about committing to dividend increases. Plus, Nancy Prial of Essex Investment Management and the 1290 Essex Small Cap Growth Fund talks small-cap stocks in the Market Call.

BlackRock's Li isn't optimistic for '24, but says selective opportunism will pay off Jan 08, 2024

Show notes

Wei Li, global chief investment strategist at BlackRock, makes it clear that she doesn't feel her firm's outlook for 2024 is "optimistic." Amid significant macroeconomic risks, Li says there are selective opportunities for investors who are willing to take the chance to put money to work, particularly in parts of the market that remain reasonable values -- notably artificial intelligence and big tenchology, which she expects to continue their strong performance from 2023 -- while avoiding parts of the market that are "priced for perfection" after the market's rally late in 2023. Also on the show, David Trainer at New Constructs puts Carvana back in "The Danger Zone," noting that the company remains a "zombie stock" -- one he expects could go to zero -- despite a strong bounceback in performance in 2023. In the Market Call, Simon Lack, managing partner at SL Advisors -- which oversees the American Energy Independence Index -- talks energy stocks, particularly midstream energy infrastructure stocks and the chance they represent to generate consistent gains now.

Crossmark's Doll on the unpredictability of 2023 Jan 05, 2024

Show notes

Veteran Wall Street observer Bob Doll, chief investment officer at Crossmark Global Investments, has been making 10 forecasts for the New Year for decades, but 2023 was one of the most difficult times he has ever had reading the tea leaves for the market and economy. He explains why as he looks back at his forecasts from a year ago and reviews what he got right and wrong and how conditions have changed; he will return to the show next week with his forecasts and predictions for 2024. Meanwhile, John Cole Scott, president of Closed-End Fund Advisors, is looking forward, doing his annual forecast for the year ahead in closed-end funds, highlighted by his expectation that closed-end funds to outperform the general equity markets,In the Market Call, Raymond Bridges of the Bridges Capital Tactical ETF talks about being "aggressively cautious" in today's market conditions.

Rob Arnott: '24 will be 'a year of living dangerously' but find the values Jan 04, 2024

Show notes

Rob Arnott, chairman and chief executive officer at Research Affiliates sees a recession as likely for late 2024, but expects the entire year to be dominated by domestic and geopolitics that create significant "left tail risk," the most extreme potential downside performance. It will be, he says, "a year of living dangerously," but he views current conditions "as a wonderful opportunity" to lean into value investing strategies. Also on the show, Tom Lydon, vice chairman at VettaFi makes a call on currencies and Japan with his ETF of the Week, and Mark Yusko, chief investment officer at Morgan Creek Capital Management, talks about ETF investment strategies in the Market Call.

Needham's Barr: Still lots of opportunity in small companies Jan 03, 2024

Show notes

John Barr, portfolio manager for the Needham Growth and Needham Aggressive Growth funds, says that despite the market's recent rally, there are plenty of smaller growth companies that represent good values with strong growth companies, though he also suggests that some of the large companies -- particularly in economy-driving industries like artificial intelligence and data storage -- have room to run too, which is why he's "not worried" about what the market will dish up this year. Also on the show, Manny Weintraub, principal at Cannell & Spears, discusses "super great stocks that are not going to kill you" in the Market Call, and Chuck reveals the 2023 results for his long-running "change experiment," where he saves everything under a $10 bill that comes his way in cash.

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