Money Life with Chuck Jaffe

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5 stocks that might crater due to overblown 'street earnings' Jun 12, 2023

Show notes

Kyle Guske, investment analyst at New Constructs, says that while the firm's research shows that 73 percent of companies are overstating their core earnings when adding in one-time events and other factors that are part of what's known as 'street earnings,' he sees five companies with the most overblown numbers as ready for a fall, identifying MGM Resorts, PG and E Corp, Boston Scientific, Fiserv and PPL Corp. Bruce Kelly, senior columnist at InvestmentNews, discusses the latest lawsuit facing financial guru Dave Ramsey, over recommendations about a time-share workout firm that did not, well, work out, deep-value investor Michael Campagna of Moerus Capital in the Market Call, and Chuck talks about the sneaky but necessary path a fund company took to get shareholders -- himself included -- to vote their proxy.

StockCharts' de Kempenaer: The breakout is on, and for the rest of the year Jun 09, 2023

Show notes

Julius de Kempenaer, senior technical analyst at StockCharts, says that while the rally may seem range-bound, the recent upswing has pushed it past the range and started the next rally, one which he thinks could go by another 10 percent likely before the end of the year. De Kempenaer notes that while the rally has been fueled by a few stocks, the rally will be more broad, with small caps starting to participate. In The Big Interview, financial journalist Allan Sloan goes further on what he has labeled 'The Skinny Bull' and just how much our perceptions of the current year for the market are based on the actions of seven companies. Plus, Doug Baker, head of preferred securities at Nuveen, looks at how current market conditions have made it relatively easy to find paper that is yielding north of 7 percent, and notes that concerns over the financial services sector have made it possible to get that yield on sale now at discount levels that this area of the market rarely sees.

PineBridge's Kelly: Market is about to give up this year's gains Jun 08, 2023

Show notes

Michael Kelly, global head of multi-asset at PineBridge Investments, says he expects the market 'to reverse the gains we have had year to date' and suggests investors will be better off in cash riding out the downturn, which he thinks will be stubborn and persistent even if the downdraft is not exceptionally steep. In the Market Call, Nancy Prial, co-chief executive officer at Essex Investment Management, says that small-cap stocks are already discounting a recession, setting up 'a generational opportunity' for smaller companies to play catch up and outperform over the next two to five years. Plus, Tom Lydon, vice chairman at VettaFi, heads to China with his pick for the ETF of the Week.

NDR's Kalish: Recession is likely to start in the next six months Jun 07, 2023

Show notes

Joe Kalish, chief global macro strategist at Ned Davis Research, says that he expects a short, shallow recession that starts no later than early into 2024, but he also says there is the potential for the economy to avoid the status of a recession while riding the U-shaped economic recovery through sub-par and sluggish growth. Ed Carson, news editor at Investor's Business Daily discusses the latest IBD/TIPP Economic Optimism Index, which dropped sharply a month ago and failed to rally this month despite a strong, solid move in the market, and Matt King, president of King Wealth Advisors in northern California talks mutual funds and ETFs in the Market Call.

Fulcrum's Seaton:The stock market has gotten ahead of itself Jun 06, 2023

Show notes

Paul Seaton, managing director at Fulcrum Asset Management North America, thinks that persistent inflation and a potential recession leave the equity markets vulnerable during the second half of 2023, and while he is not expecting a volatile downturn as a result, he does think investors need to check their expectations and not get carried away by the market's gains to this point in the year. Ken Berman, founder and chief strategist at Gorilla Trades, says that the market's technicals are more mixed than they have been in years, creating a range-bound market where the downside is limited while the market takes time to gather the base for the start of the next secular bull market cycle. In the 'Find Me The Money' segment, forensic accountant Tracy Coenen discusses the financial hide-and-seek games that some spouses start playing at a point when they start to believe that a marital split is likely. Plus, Matt Schulz of Lending Tree on how much parents are spending on average for their kids' extracurricular activities.

Economist Yaruss: Narrow market rally is not the start of the next bubble Jun 05, 2023

Show notes

Howard Yaruss, professor at New York University and the author of 'Understandable Economics' says that while the stock market is up sharply this year, 'this is not a stock market on fire, this is a stock market 15 percent below it's peak.' The year's increase has been mostly due to a few technology/artificial-intelligence companies, but he does not believe the AI business is setting up a new bubble/crash, because their valuations haven't approached unreasonable; Yaruss also noted that he thinks the Fed will hold off on raising rates this month to see if inflation continues its slow decline. Also on the show, Jeff Ptak, chief ratings officer at Morningstar Inc., goes 'Off The News' on his research that showed that certain tactical asset allocation funds were much worse for investors than simply buying-and-holding a static portfolio, David Trainer of New Constructs issues a warning for the entire stock market over the coming earnings season, and Chuck explores the weird financial news.

KraneShares' Ahern: China will suffer - then rebound - through a U.S. recession Jun 02, 2023

Show notes

Brendan Ahern, chief investment officer at KraneShares, says that any recession or economic downturn in the United States will wind up having spillover effects in China, where the economy is so geared to the West that it is the proverbial 'canary in the coal mine,' because if manufacturing there is slowing and exports are down, it reflects a sluggish economy in the U.S. and Europe. He sees improved potential for China and emerging markets, provided that the politicians on both sides can avoid trade conflicts and allow for improved trade. Rob Shaker of Shaker Financial Services, says that the stock market hasn't been climbin a wall of worry so much as a 'Wall of Meh,' but notes that economic mediocrity is creating opportunities for long-term investors in closed-end funds to buy into discounts now and get paid off as early as the second half of this year, when he expects a 'generalized recovery' from today's worrisome issues. Plus, Gene Peroni of Peroni Portfolio Advisors talks technical analysis and says the range-bound market is likely to see the upper limits on the current market swings move higher -- by more than 10 percent -- before the year ends.

Harbor's Gleich: 'Genuine inflation problem' will heighten volatility Jun 01, 2023

Show notes

Kristof Gleich, founder and chief investment officer at Harbor Capital Advisors, says investors should be surprised that the economy hasn't gone into inflation, but notes that the market has a 'genuine inflation problem' that is persistent and structural and likely to linger for a year or two, at least, as the Federal Reserve struggles to get the pace of rising costs down to 2 percent. As a result, he expects more volatility from the market, with more vibrant rallies like we are seeing now balanced out by more vicious snapbacks/ Also on the show, Tom Lydon of VettaFi responds to the market's narrow leadership with a counter-intuitive play, making the equal-weighted version of a popular index his ETF of the Week, Christian Mitchell discusses the first data release of Northwestern Mutual's 2023 Progress and Planning Study, noting that investors are braced for impact with a downturn, and Chuck answers a listener's question about the resources he reads and uses for help in guiding his portfolio.

Unlike Internet bubble days, AI growth path is real and sustainable May 31, 2023

Show notes

Michael Sansoterra, chief investment officer at Silvant Capital, says the artificial intelligence boom currently fueling a Wall Street rally is here to stay -- though he notes the stocks are not recession- or crash-proof thanks largely to real earnings and sustainable growth curves. During the Internet bubble days around the turn of the century, companies were bid up on hope and hype, but Sansoterra notes that artificial intelligence stocks -- a surprisingly small group that is growing rapidly --- have substance that should give them longevity. Also on the show, financial adviser Brian Kuderna discusses his recent book, 'What Should I Do with My Money?' and Bankrate.com's Ted Rossman discusses side hustle activity and why people keep working side jobs, what they're trying to achieve and how many hustlers think they'll be doing odd jobs forever.

New Constructs' Trainer on CAVA IPO: You might as well light your money on fire May 30, 2023

Show notes

David Trainer, president at New Constructs, says that the initial public offering for fast-casual restaurant chain Cava Group is another poster child for bad new issues, a 'rip-off' with 'the private equity holders hoping to get bailed out by unsuspecting public investors.' He compared Cava to WeWork, an IPO so troubled that it wound up being canceled; he's hoping the Cava deal suffers a similar fate. In the 'Find Me The Money' segment, forensic accountant Tracy Coenen discusses financial infidelity and the slippery slope that many people take in crossing the line from normal financial behaviors to troubling ones, Allison Hadley discusses a RetirementInvestments.com survey looking at the ways and the extents many parents are going to in order to support their adult children, and The Book Interview features author and comedian Jamie Loftus on her book 'RawDog: The Naked Truth About Hot Dogs," a look at both the meat-packing industry and some of the best hot-doig joints in America.

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