Money Life With Chuck Jaffe Daily Podcast

Brad McMillan, chief economist for Commonwealth Financial Network, says that there's "an enormous feel-bad headline economy," but the underlying fundamentals are solid enough to keep earnings growing, which will make it that the market does well, or at least avoids a protracted, deep downturn. McMillan worries that when the supply-chain breaks for food, for holiday shopping and more several months from now that it could trigger a recession, but he says that, for now, the numbers that normally signal that a grizzly bear market — a combination of a recession and a crashing market — aren't lined up to happen yet. Mark Newton, global head of technical strategy at Fundstrat Global Advisors, also is staying out of the recession camp, but he does "suspect that we can't just go to the moon right away," and thinks the market could be in for a 5% haircut this month. Newton says that earnings and the economy have been better than expected, which is why he is telling people to "put on the blindfold and put on earphones"

Doug Roberts, chief investment strategist at Channel Capital Research Institute and the author of "Follow the Fed to Investment Success," says that it doesn't matter much to the stock market when a rate cut happens, so long as investors can expect decline and believe the central bank will step in with one if employment numbers change significantly. Roberts says that the market wants to know that "the Fed has your back," and he expects new chairman Kevin Warsh to signal that, even if it is not accompanied immediately by rate cuts. Roberts also says that current conditions and the Fed's outlook should be leading investors to domestic stocks and particularly to small- and mid-cap names.  Vijay Marolia, chief investment officer at Regal Point Capital, discusses why the market liked Alphabet's earnings results last week but hated Meta Platform's numbers, and what that says about each company moving forward, discusses the disappointing crash landing of Spirit Airlines, and delves into the curious story of Jane Stre

Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, says in the Market Call that scary headlines over higher gas prices, inflation and war haven't created a significant headwind to overcome the solid earnings growth picture. Stucky adds that beyond the earnings results, the economy is benefitting from tax and tariff reductions that are helping to balance out the new concerns; he discusses how a broader growth picture is good for small and mid-cap stocks, why he thinks the financial-services sector was oversold and more. Jeff Corliss, managing director at HighTower Signature Wealth, discusses the behavioral traps and pitfalls that stop well-meaning investors with solid financial plans from achieving their real goals, noting that it's the details more than the markets that derails retirement savings before all of a plan's aims are met. John Cole Scott, president of CEF Advisors and the chairman of the Active Investment Company Alliance, recounts the legacy and the lasting

Jason Hsu, chief investment officer at Rayliant Global Advisors, says that "thee's the real economy and there's what the S&P 500 and Nasdaq are measuring" and they're different, which is why it's "not crazy for the stock market to reflect something almost separated from reality." As a result, consumers can freak out at what they see at the gas pumps and grocery stores and concerns over war can be on everyone's mind at the same time the market is re-testing record highs. In a wide-ranging Big Interview, Hsu also discusses why the U.S. and China have backed away from trade-war tensions and how artificial intelligence may have a bigger impact on work forces in India and China than it does in the U.S. and more. In the Market Call, Nancy Prial, co-chief executive officer and senior portfolio manager at Essex Investment Management, discusses the current ongoing rally in small-cap growth stocks and why she expects smaller stocks to return to their historical path of delivering gains that are slightly better than

Shawn Severson, chief executive officer and the head of market and thematic research at Water Tower Research, says that oil futures prices looking out into 2027 and reacting as if "$70 is the new $60," a sign that the market does not think any oil shock will be long-lasting. Meanwhile, he says that the economy's continuing strength is showing that it can absorb and tolerate higher inflation and other current headline risks without falling into a recession. As a result, he sees downturns while the market digests the uncomfortable news as if there's a "pig in the python" as buying opportunities. Jenny Harrington, chief executive officer and portfolio manager at Gilman Hill Asset Management says in the Market Call that artificial intelligence having sucked up so much attention and investment dollars has actually created "more excellent opportunities in the past year than I have had in a long time." Despite that, Harrington says it's a tough overall market to pick stocks because current events are distorting and

Steve Laipply, global co-head of iShares Fixed Income ETFs for Blackrock, says that with fixed-income yields staying high and with evolving tools in new funds, investors have a generational opportunity to generate solid real returns and, more importantly, a solid income stream. BlackRock today released a new paper on current fixed-income opportunities, and Laipply discusses laddering bond ETFs with different maturities versus holding more general short-, intermediate and long-term funds, as well as the benefits of adding different types of fixed-income funds, including private credit and more. Russell Rhoads,  professor of financial management at Indiana University and co-host of Academic Market Insights, says in the "Talking Technicals" segment that he's "a beat-up bear," but he cautions that volatility remains elevated and that when the VIX volatility index is elevated when the stock market is going strong, "That usually doesn't end very well." He says that stocks are about six months into an over-valuation

While much of the focus on artificial intelligence has been on how it will improve productivity, economist Benjamin Shiller, author of "AI Economics: How Technology Transforms Jobs, Markets, Life and Our Culture," says that many impacts that are just starting to be seen will be at least as revolutionary. Shiller says, for example, tha expects an end or near end to pop-up ads and Internet advertising, expects books to be free and much more. He also discusses the continuing challenges of AI integration and whether investors have seen the true financial winners yet.  After a week in which Nvidia and Intel powered the stock market back to near record levels, Vijay Marolia, the chief investment officer at Regal Point Capital, discusses why the rally in one of those stocks feels temporary while the other can roll on. He also compares and contrasts those stocks with Apple and Netflix, suggests that investors should slice technology stocks into thin industry groups to get a better understanding of valuations and talk

Kevin Steuer, managing partner at StockTA, says the stock market's rally after the initial peace talks over the War in Iran got a bit ahead of itself, and he's now expecting the market to hover — without facing much downside pressure — awaiting more resolution and clarity. He's heavily in cash at this point — the most cash he has held by percentage since the Covid crisis — and is looking at defensive, inflation-oriented plays while he waits for a signal that the rally is back on. David Gutierrez, vice president at Liberty Street Advisors — which runs the Private Shares Fund — says that private markets are similar enough to public markets that one of the big sweet spots now is artificial intelligence, though he is focused mostly on A.I. infrastructure noting, for example, that the shift from copper-based to optical-based networking in servers is an investable trend that does not depend on how well the AI works but instead is based entirely on the demand for more technology support. He also discusses shifting t

John Silvia, chief executive officer at Dynamic Economic Strategy, says he expects the Federal Reserve to keep interest rates steady, leaving mortgage rates stuck at 6%-plus and in an environment with the 10-year Treasury rising slightly. Silvia points out that the central bank is not going to be frantic about 3% inflation and reducing it to the 2% target level, but he says that investors and retirees will suffer from that higher inflation, creating more of a retirement-savings struggle. Courtney Werning, principal at Meyer Wilson Werning and the 2027 president-elect for the Public Investors Advocate Bar Association, discusses how and why smart consumers and investors get caught up in scams and how artificial intelligence has raised fraud risks, particularly for seniors. Todd Rosenbluth, head of research at VettaFi , turns to Japan for his ETF of the Week, suggesting that it might be worth a portfolio tilt for someone looking to add foreign exposure to a portfolio. In the process, he discusses whether investo

Lance Cannon, portfolio manager at Hood River Capital Management, says in the Market Call that he is looking for transformational small companies that can benefit from changing trends in key industries, which has included artificial-intelligence stocks heavily as his funds produced stellar results in recent years. But Cannon says that looking for those companies means finding businesses that will not wind up on the wrong end of AI developments themselves, where a current flash will turn into a future crash. Allison Hadley, an analyst at Digital Third Coast, discusses research she did for Howdy.com looking at how consumers use — and whether they trust — artificial intelligence. Following up on David Trainer's Monday appearance in The Danger Zone — where he put all AI users in the Danger Zone because the quality of information they are using is questionable — Hadley noted that consumers are split, with a large cohort having a healthy distrust of the accuracy of the new technology, while another large group is w

Dana Samuelson, founder and president of American Gold Exchange, says gold investors shouldn't expect the rally in metals to resume at the pace it set last year — when gold was up over 60% — but he does believe that the fundamentals that were in place for that rally will drive gold back up once concerns over war and inflation are a little less prominent. He sees the metal hitting $6,000 in 12 to 18 months, and says he'd be buying in dips now. Thomas Raymond, founding partner at Callan Family Office, says he's staying patient while war gets resolved, because backstopping the economy and the markets are a $7 trillion mountain of cash that investors will want to put to work, and the continuing artificial-intelligence story that is creating an attractive place to invest it. Those forces should drive the market higher, overcoming inflation and other headlines and potential "micro-recessions" to get there.  David Goodsell, executive director of the Natixis Investment Managers' Center for Investor Insight, discusses

Ron Sanchez, chief investment officer at Fiduciary Trust Company International, says in "The Big Interview" that solid fundamentals from both the top down and the bottom up should make it that earnings can drive the stock market higher once there is resolution in Iran, where war has been creating problems that could make for a volatile and bumpy few months. He expects higher inflation to be temporary, but thinks conditions are solid enough for a strong rebound once the market feels confident that there is resolution, noting that bounce-backs tend to be solid and strong after geopolitical conflicts end. That makes for selective buy-the-dip opportunities for patient investors.   David Trainer, founder and president of New Constructs, has been issuing warnings tied to artificial intelligence for a while, but this week he goes in a different direction, and comes for A.I. users in the Danger Zone," noting that the shortcomings of the new technology and a conflict of interest involved in its continued development

D.R. Barton Jr., director of market research for the Foundation for the Study of Cycles, says he expects the market to continue its recovery through one more burst higher that lasts into the summer, but after that he is seeing "a bouncy, sideways market" with heightened volatility, swings reaching 20% up or down in a quarter. He is looking for "inflation-hedging names" for whatever happens coming out of the current cease-fire in the war in Iran, noting that he expects inflation to dampen the economy and the market for the remainder of the year. Isaac Wakszol, chief executive officer at Activest Wealth Management, says investors need to guard against "this time is different" thinking in wanting to make portfolio changes due to the recent increase in inflation and oil prices, war in Iran and more. He notes that in the market's last 100 years, there have been 17 recessions and 20 wars and that markets have always recovered, "and we're on Day 40-something of this war and the market is higher."  In preaching disci

Gabe Diederich, portfolio manager at Baird, says that long-term indicators for inflation haven't moved much, which is good news for bond investors interested in capturing steady income for the long haul. He says in the Big Interview that he expects the Federal Reserve to wait on rate changes — so long as the economy and labor market remains stable — until there is more clarity and certainty in the numbers. Diederich says that fundamentals for bonds across the spectrum look solid, but he says "There's a great story for the tax advantage of municipal bonds," and that investors should look to take advantage of the tax benefits to generate real income and stabilize portfolios. Kevin Callahan, founding partner, Fairway Capital Management — portfolio manager for the Fairway Private Equity & Venture Capital Opportunities Fund — talks about whether concerns in the private credit markets are bleeding into the venture-capital and private-equity space, and what lies ahead for alternatives markets, particularly as ol

Dave Sekera, chief U.S. market strategist at Morningstar, says that the beating that technology stocks have taken has made the sector ideal for patient investors hunting bargains. He says technology as a sector is now trading at a 20% discount to the firm's composite of fair values, and there have only been two other times since 2010 when tech has been that undervalued. As a result, he's looking at some big-name companies — including a few Magnificent Seven stocks and some beaten-down software names — as buys now. Author John Coleman discusses his new book, "Good Money: Six Steps to Building a Financial Life with Purpose," which goes beyond just the money aspects to look at the work and social elements that will help make people happier and healthier, particularly as they transition more towards the retirement and slow-down phases of life. Also, Chip Lupo, analyst at WalletHub, goes "Off The News" discussing Federal Reserve data released earlier this month which showed that total consumer credit increased at

Journalist Kit Chellel discusses his new book, released today, "Lucky Devils: The True Story of Three Rebel Gamblers Who Beat the Odds and Changed the Game," the tale of 1970s gamblers who applied early computer technology to  gambling at a time when the smallest computers were still the size of a suitcase. They created "advantage playing," and faced issues with casinos, the mob and more, but also laid the groundwork for a lot of what is happening now and being revisited in prediction markets and more. Heather Hunt-Ruddy, divisional president at Wells Fargo Advisors, discusses the firm's recent white paper on building and maintaining generational wealth, and how to accomplish transfers without spoiling the next generations or setting the grandkids up to become spoiled and irresponsible. In the Market Call, Joe Rinaldi, president and chief financial officer at Quantum Financial Advisors talks about both individual stocks and ETFs, discusses when he leans toward using one over the other, and says he is looking

Abe Sheikh, chief investment officer at Cordoba Advisory Partners, says that if tensions in Iran cool and oil prices settle down — which the futures market is saying is likely by year's end — says that the current spike in inflation is temporary and the risk of runaway inflation is much lower than it was during Covid times. With that in mind, he thinks current events are more setting up investment opportunities than stopping investors and getting them to panic away from equities and heightened volatility. With consumer sentiment at record lows — but consumer confidence improving ever so slightly — in March, Vijay Marolia, chief investment officer at Regal Point Capital, discusses why feelings make headlines but fundamentals make for better investment prospects. That's why he's leaning into some of the market's most beaten down sectors; he discusses his take on the private credit market and on how to lean into it for better yields without getting tripped up by the current-event risk, as well as what he expects

Jeff Krumpelman, chief investment strategist at Mariner Wealth Advisors, says that the economy is on solid grounds and that earnings expectations are up, which has prompted him to stand fast on the 7,700 target he put on the Standard & 500 entering the year, and he expects the market to bounce back hard once headlines ease up and investors get more clarity. Krumpelman says he expects the market to broaden out, but he says it will be a "RAD" year, for "risk awareness and diversification," noting that investors will want to get portfolios back to their asset allocation plans and diversify to avoid concentration risk.  With the market kicking business-development companies in the teeth, John Cole Scott , president of CEF Advisors — and chairman of the Active Investment Company Alliance — grinds through his firm's "artificial-intelligence risk scoring" data to find BDCs that have been hurt by headlines without holding tainted portfolios. The result, he says, are two funds that have seen their valuations — but

Mark Yusko, chief investment officer at Morgan Creek Capital Management, says global uncertainty "is at the highest level it has ever been," which is why investors have been leaning into quality and other factors they understand and are comfortable with, but he says value-oriented investors should be looking for less-traveled paths, searching for opportunities where they feel really uncomfortable "and where it's hard to pull the trigger." Yusko discusses ETFs in the Market Call, but also talks current events, noting that "Volatility is disagreement about future outcomes." With the "ETF of the Week," Todd Rosenbluth, head of research at VettaFi, turns to an actively managed municipal bond fund as a tax-time diversion, but he notes that the low-cost fund with a solid tax-free yield deserves long-term consideration too. Jamie Hopkins, co-author of "Your Retirement Sketchbook: 125 Retirement Planning Lessons from Financial Experts," discusses the new book, holes many people leave in their financial planning and h

Wayne Wicker, president of Opal Capital, says investors "are bombarded every day with news items," and while those things are interesting, they're also "meaningless" for most people with a long-term horizon. He suggests "looking through the noise," and notes that in the cacophony of current events, he sees opportunities in mid-cap stocks and in some areas and individual issues where the market has overreacted in recent weeks. Personal finance journalist Brian O'Connor discusses the importance of looking more deeply into target-date funds — a default-choice investment that most investors pick without giving it much thought — noting that the way those funds work could leave investors subject to significant sequence-of-return risk, particularly if they are Baby Boomers planning to retire soon. O'Connor, who wrote about the subject in a recent New York Times piece, isn't saying investors should avoid target-date funds but instead advocates for a level of management and involvement that many users don't normally a