WEALTHTRACK

Latest Episodes:

Investment Strategies: Conflicting Trends [2023] Apr 14, 2023

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Part 1 of 2

After a tough 2022, big tech stocks are back and leading the market rally. According to research firm Strategas, ten stocks, including Apple, Microsoft, Nvidia, Meta, Tesla, Amazon, Alphabet, Salesforce, AMD, and Broadcom, have accounted for 90% of the S&P 500's year-to-date gains.

This dominance of a handful of stocks has investors facing some interesting choices, including cash, which is back with money market funds offering yields as high as 5%, and gold, which has recently traded near record territory at over two thousand dollars an ounce.

All of this is happening against a backdrop of the highest interest rates in years, stress in the banking system, and a Federal Reserve under pressure to pause its fight against inflation.

To discuss the outlook for the economy and markets, and the best course for investors, we are joined by Ed Yardeni, President and Chief Investment Strategist of Yardeni Research, a PhD economist, long-time Fed watcher, and investment strategist who is widely followed by institutional investors.

WEALTHTRACK episode 1942 broadcast on April 14, 2023.

More info: https://wealthtrack.com/navigating-todays-investment-crosscurrents-with-veteran-macro-strategist-ed-yardeni/

Bookshelf:

In Praise of Profits! : https://amzn.to/3ogciJC

Predicting the Markets: A Professional Autobiography: https://amzn.to/3o7dGOp

Retirement Planning: Strategies for a Secure Future Apr 07, 2023

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Part 2 of 2

Planning for retirement and replacing a work paycheck with savings can be a daunting task, especially with the current challenges of market declines, inflation, rising interest rates, and the threat of recession. Christine Benz, Morningstar's director of personal finance, is passionate about simplifying retirement portfolio planning and has identified six retirement blind spots:

retirement date risk
sequence-of-return risk
low-yield risk
inflation risk
health care/long-term care risk
longevity risk

In this second of a two-part series on Building a Better Retirement, Benz explains how to mitigate these risks and offers solutions to ensure a financially secure retirement.

WEALTHTRACK episode 1941 broadcsat on April 07, 2023

https://wealthtrack.com/retirement-blind-spots-and-how-to-fix-them-with-morningstars-personal-finance-guru-christine-benz/

Bookshelf:

Morningstar's 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances: https://amzn.to/3G5rVcN

Morningstar Guide to Mutual Funds: Five-Star Strategies for Success: https://amzn.to/3zqb2pv

How Dividend-Paying Stocks Provide Protection in a Declining Market Mar 24, 2023

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This week, the Federal Reserve raised its key short-term interest rate for the ninth consecutive time, bringing it to the highest level since September 2007. While Fed Chair Jerome Powell acknowledged the dilemma that the Fed officials faced, the banking system's turmoil has been a cause of concern following the recent bank failures. However, Powell assured that the banking system is sound and resilient, and the Federal Reserve is prepared to use all tools as needed to keep it safe and sound.

Dividend-paying stocks are gaining new respect among investors, and they are proving to be a protective asset in times of market volatility. ClearBridge Investments' Dividend Strategy Fund has been named one of "The Best Dividend Funds" for 2023 by Morningstar. Michael Clarfeld, co-portfolio manager of the fund, is with us to explain why high-quality companies with histories of growing their dividends are particularly valuable now.

WEALTHTRACK Episode 1939 broadcast on March 24, 2023

More info about the stocks mentioned and the Dividend Compounders list:https://wealthtrack.com/the-many-benefits-of-dividend-paying-stocks-explained-by-a-top-rated-dividend-fund-manager/

Financial Strain and the Economy: Insights from Economist Nancy Lazar Mar 17, 2023

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In this episode of WEALTHTRACK, leading Wall Street economist Nancy Lazar discusses the resilience of the U.S. economy, despite several canaries in the coal mine examples of financial strain. Lazar shares her insights on why the economy is holding up better than expected and what we can expect moving forward, including the impact of the Federal Reserve's efforts to slow down the recovery. Lazar, a highly-ranked economist since 2001 and has been on Barron's 100 Most Influential Women in U.S. Finance for the past three years, offers valuable insights for investors and anyone interested in the state of the economy.

WEALTHTRACK episode 1938 broadcast on March 17, 2023

More info: https://wealthtrack.com/wheres-the-recession-leading-economist-nancy-lazar-on-the-legacy-liquidity-still-fueling-the-economy/

Small-Cap Stocks with Short-Term Problems: The Secret to Beating the Market Mar 09, 2023

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First Eagle’s small-cap portfolio manager, Bill Hench, has a long track record of beating the market and the competition by discovering hidden gems among small-cap stocks with short-term problems.

WEALTHTRACK episode 1937, published on March 09, 2023

EXTRA: Clements on The Toughest Retirement Challenge Mar 04, 2023

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Award-winning personal finance columnist Jonathan Clements discusses the number one topic among his HumbleDollar newsletter readers and a strategy to ease the burden.

WEALTHTRACK episode 1936 published on March 03, 2023

In this second week of the winter fund-raising season for Public Television, we are revisiting a very popular interview from award-winning personal finance reporter and HumbleDollar editor Jonathan Clements. He addresses the new financial realities of higher interest rates and inflation and the impact they are having on portfolios and financial planning. This is an additional excerpt that didn't make it in the original interview.

EXTRA: Clarida on 2% Inflation: Defending The Feds Solution Feb 17, 2023

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This is additional commentary from Richard Clarida that didn't make it into the episode. Legendary Fed Chairman Paul Volcker was highly critical of the Fed’s policy of targeting 2% inflation, saying he saw “no theoretical justification” for it and that if successful, it “would mean the price level doubles in little more than a generation.” In this EXTRA exclusive, Former Fed Vice Chair Richard Clarida defends the 2% solution.

Index Fund Investing: The Simple and Accessible Way to Successful Investing Feb 11, 2023

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Investing can be simple and accessible to the average person, says financial thought leader and economist Burton Malkiel. Malkiel, author of the investment classic "A Random Walk Down Wall Street," has 50 years of research to back up his claim. In his latest edition of the book, Malkiel emphasizes that investors would be better off buying and holding a broad-based index fund rather than attempting to buy and sell individual securities or actively managed mutual funds.

Malkiel's beliefs are supported by the track record of an investor who invested $10,000 in an index fund in 1977 and saw it grow to over $2 million by 2022, while an investor who purchased shares in the average actively managed mutual fund only saw the investment grow to $1.47 million.

Despite the changes in the market and the array of investment products and strategies available, Malkiel remains convinced of the validity of his original thesis. He explains why he still believes in the principles of "A Random Walk Down Wall Street" and offers his perspective on ESG investing, factor investing, and cryptocurrencies.

WEALTHTRACK episode 1933 broadcast on February 10, 2023

Bookshelf: A Random Walk Down Wall Street: The Best Investment Guide That Money Can Buy: https://amzn.to/40E5Pa1

International Market Investment Opportunities Feb 04, 2023

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Part 2 of 2

Matthew McLennan will assess the investment climate in international markets and tell us where he is finding world-class companies selling at substantial discounts to their U.S. peers.

The global economic outlook for 2023 is uncertain with the World Bank cutting its growth forecast to 1.7% from 3% and stating the "global economy is perilously close to a recession". The International Monetary Fund slightly raised its growth estimate to 2.9% due to China's reopening and slowing inflation. Central banks, especially in developed countries, are tightening to fight inflation, which may hinder future growth. The European Central Bank and the Fed have both raised short-term rates and signaled more increases in the future. A recent survey of 1200 CEOs shows 98% expect a global recession, with more than half fearing a recession worse than the 2008 financial crisis.

In Part 1, we discussed the risks and opportunities in the U.S. markets with McLennan.

WEALTHTRACK episode 1932 broadcast on February 03, 2023

More Info: https://wealthtrack.com/world-class-international-companies-selling-at-substantial-discounts-to-their-us-peers/

Listen to Part 1: https://wealthtrack.com/leading-global-value-manager-matt-mcclennan-on-companies-that-thrive-despite

Monetary and Fiscal Tightening: Understanding the Risks of High Debt Levels Jan 28, 2023

Show notes

Part 1 of 2

The Federal Reserve is currently facing a debate on Wall Street about how much longer it will continue to fight against inflation. The Fed's goal is to bring the inflation rate down to a long-term average of around 2%. Some investors believe that the Fed will continue to stay the course and keep fighting inflation, while others are tracking the slowdown in inflation indicators and believe that the Fed may cut rates in the second half of the year.

Matthew McLennan, Co-Head of the Global Value team at First Eagle Investments, is a leading global value manager with a successful track record of investing in the U.S. and overseas.

McLennan will examine the risks of monetary and fiscal tightening amidst high debt levels in the U.S. and discuss the types of companies that can succeed despite these challenges.

WEALTHTRACK episode 1931 broadcast on January 27, 2023

More info: https://wealthtrack.com/leading-global-value-manager-matt-mcclennan-on-companies-that-thrive-despite-us-investment-risks/

Bookshelf:

Against the Gods: The Remakable Story of Risk

by Peter Bernstein
https://amzn.to/409XVoj

Conservative Parties and the Birth of Democracy

By Daniel Ziblatt
https://amzn.to/3kRNpSv