Money Life with Chuck Jaffe

Sir Angus Deaton, winner of the Nobel Prize for Economics for his groundbreaking work on 'deaths of despair' says that statistics don't support the critics of coronavirus shutdowns, who suggest that economic woes will lead to increased suicides among displaced workers and business owners. In a wide-ranging interview, Deaton discusses the economic impacts of the virus and more. Also on the show, Rob Shaker of Shaker Financial says that the tax-loss selling season for closed-end funds should be particularly interesting in 2020, given the volatility funds saw throughout the year, and Chuck talks about his ultimate holiday gift for children this year, stocks, which are easier than ever to give as a present.

David Brady of Brady Investment Counsel talks in the Market Call about the importance of making good buys with the right long-term prospects because the ideal investment behavior would be to hang onto those stocks for years; selling has a way of not working out so well, Brady notes. In the Big Interview, Alan Gayle of Via Nova Investment Management discusses the market and the economy, noting that the new normal society is moving towards for after the pandemic 'will be business as usual, done in unusual ways.' Also, Tom Lydon of ETFTrends.com talks about investing in small-cap stocks through his 'ETF of the Week.'

Blair Sheppard, author of 'Ten Years to Midnight: Four Urgent Global Crises and Their Strategic Solutions," discusses current situations that threaten orderly governments, economic systems and more in the United States and around the globe and talks about the steps that can be taken to avoid a dark future. Also on the show, Freddy Garcia of Left Brain Wealth management discusses how the election did -- or didn't -- change the outlook on growth stocks the firm liked before the voting, and suggests a new entry in a sector that's warming up, Greg McBride of Bankrate.com talks about why many Americans are missing out on current mortgage refinancing opportunities, and Bill Stone of Stone Investment Partners gives his take on the market and the economy.

Howard Dvorkin of Debt.com discusses his site's study of 1,200 adults, of whom six in 10 expect to spend less this holiday season, even though that cutback is not caused mostly as a result of the pandemic, but rather is because of the muted emotions of the socially dstanced holiday. Dvorkin says that every year the surveys show that consumers enter the holiday season with good intentions of spending less, and they never wind up holding to those spending goals once they actually get to shopping. Also on the show, David Dowden of MacKay Municipal Managers discusses the outlook for muni bonds, John Divine of U.S. News and World Report sounds off on the prospects for Pfizer, Moderna and the investors who are making a play on the vaccine stocks now, and we revisit a recent Market Call chat with Chuck Self of iSectors.com.

Ed Shill, portfolio manager for the QCI Balanced Fund says in today's Market Call that he is feeling defensive about the market now, putting airbags on portfolios with more cash to insulate against a market he describes as overbought. He is looking into stocks that have been underbought, the names that have been suffering during the pandemic but that stand to benefit as the economy finally moves through the illness and starts to reopen more fully; that means airlines, travel companies and much more. In the Big Interview, however, Ed Confrancesco of International Assets Advisory goes the other way, suggesting that investors ride with the hot work-from-home kind of names that have led the market's rebound from March lows. Also on the show, Amy Pirozzolo of Fidelity Charitable discusses the pandemic's impact on volunteerism and charity, and Kyle Guske of New Constructs revisits some past Danger Zone picks that are no longer on the firm's 'most dangerous list,' some of which were big winners and others that defied gravity and logic.

Roger Conrad, editor of Conrad's Utility Investor, says in the Market Call that while the stock market bounced back from its late winter freefall, some groups -- including utilities -- were left behind in the recovery. He expects them to play some catch-up and to be a reason why the market drives higher, especially in 2021 as there is a more clear resolution to the pandemic. Also on the show, Robert Bush, director of closed-end funds for Calamos Investments, discusses discounts, convertible securities and more in the NAVigator, Matt Harris of HighTower Advisors talks technicals now, and financial adviser Christopher Manske chats about his new book, 'The Prepared Investor.'

Stephen McKee, editor at the No-Load Mutual Fund Selections and Timing newsletter, says that a mix of investment styles are in his methodology's top ranks, which means that the market's advance is broad-based, and 'things are in-gear for the upside.' poised for more. He says all cap sizes in domestic and international categories are clicking now, and should continue. There's also a lot of bond talk on today's show, with Tom Lydon of ETFTrends.com making a high-yield issue his 'ETF of the Week," and Venk Reddy of Zeo Capital Advisors talking short-duration bonds and social investments via junk bonds.

Bond-fund manager Bruce Monrad, chairman of the Northeast Investors Trust, discusses the way that investors may want to look at junk bonds as a way to boost a portfolio's equity returns while reducing volatility, especially in these low-rate and low-yield times. Monrad notes that high-yield bonds often edge the stock market during troubled times, and explains why the recovery from the pandemic might be a period to expect that. Also on the show, Brian Dress of Left Brain Investment Research discusses investing in China and in one of China's biggest and best known stock success stories now, Ed Carson of Investor's Business Daily talks about the news site's latest investor optimism survey -- which shows that only the winning electorate feels much hope right now -- and Matt King of King Wealth Advisors covers mutual funds and ETFs in the Market Call.

Jeffrey Cleveland, chief economist at Payden and Rygel, says the economy is recovering faster than most people expected, and that it will pick up steam next year as the services sector catches up a bit to the goods and products businesses, which have already gotten back to pre-pandemic levels. Cleveland expects a vaccine and growing economy to buoy the stock market. In the Market Call, Daniel Kern of TFC Financial Management talks funds and ETFs, and Chuck starts things off discussing how investors need to look past the financial firm's reputation to consider whether an investment is appropriate for them.

Tom McIntyre of McIntyre, Freedman and Flyn says in the Market Call that the wild swings in headlines running from the tumultuous election through the pandemic and the twists and turns of the economy have left investors with few signals to read. He sees the market hibernating while investors try to figure out how to decipher signals, and expects a slow fourth quarter and start to 2021, and he suggests holding more cash than normal while waiting for it to play out. In the Big Interview, Kirk Chisholm of Innovative Advisory Group discusses modern portfolio theory, the 4 percent retirement-spending rule and other basic tenets of personal finance and discusses why those old saws don't serve investors so well any more. Also on the show, David Trainer of New Constructs explains why BOX belongs in the Danger Zone, and Chuck answers a question about funds based on the social (ESG) version of the Standard and Poor's 500 Index.

Brian Frank of the Frank Value Fund, an absolute-value manager, says in the Market Call that the rising tide of the market has not been lifting all boats, but rather has been lifting the top technology like it's 1999. That makes it hard to find good values, but Frank discusses a few and some of the surprising industries he is finding them in right now. Also on the show, Rick Redding of the Index Industry Association discusses the ongoing explosion in the creation if indexes and how that impacts both the fund industry and individual investors, Brian Schaffer of Prosek Partners talks about activism in closed-end funds and the importance of good communications to ease tensions in those corporate battles, and Lance Ippolito of theFutureofWealth.com talks the market's technicals.

Terri Spath, chief investment officer at the Sierra Mutual Funds, says that muni bonds, high-yield corporate bonds and emerging market stocks -- all of which were becoming a strong play leading up to the election -- are in a sweet spot after the voting, and noted that are mostly under-represented in investors' portfolios, which should make them particularly interesting now. Also on the show, Tom Lydon of ETFTrends.com looks to emerging markets -- and specifically China -- for the ETF of the Week, Chuck answers a question about dividend reinvestment plans, and Christopher Zook of CAZ Investments tackles thematic, growth-at-a-reasonable-price investing in the Market Call.

Jeffrey Miller, portfolio manager at Incline Investment Advisors, says in the Money Life Market Call that the current economic recovery has been 'overstated,' leaving a division between the stocks that work now and those that will be good to own after the recession. That recession, however, is something that Miller believes we have not emerged from, that it's the same downturn that started before the pandemic hit, triggering the market's fall in February and March. He expects a bounce-back for the market as the economy recovers. Also on the show, Janice Quek of Left Brain Investment research discusses why investors want to add Southeast Asia to their portfolio and covers one emerging-markets stock that she thinks is particularly promising now, Bill Costello of the Westwood Funds talks about energy and utility companies now, and Chuck takes an audience-member's question about the tax-efficiency of exchange-traded funds.

Adam Grimes, president of Talon Advisors, expects the market to find conviction and direction after the election, whether it takes a turn for the dark with strong selling -- a week or two with no snap back that could trigger a bear market -- or moves back to record highs and holds those peaks to start a new run up. Whichever way the market goes, Grimes says investors need to avoid being on the wrong side of the new momentum, buying a dip that turns into something bigger or taking profits but missing out on a growth wave. Also on the show, Sudarshan Murthy of GQG Partners talks emerging markets and whether they have advantages from coming through the pandemic ahead of other parts of the world, Jill Gonzalez of WalletHub.com discusses the lengths consumers are going to when it comes to iPhones, and Chuck Self of iSectors talks exchange-traded funds and how 'minimizing downside risk' ultimately leads to bigger profits in the Market Call.

David Trainer, president of New Constructs, says Wayfair, Carvana, Beyond Meat, Dropbox and Spotify Technology all qualify as popular stocks -- despite being saddled by what the Nashville-based firm describes as 'misleading earnings' -- that are headed for trouble, and that they will hit that rough patch soon no matter who wins the White House in Tuesday's election or how they change economic policies moving forward. Also on the show, Giorgio Caputo of J.O. Hambro Capital Management discusses 'green income,' Gregg Fisher of Quent Capital discusses small-cap stocks in the Market Call, and Chuck discusses the results of his annual Halloween trade-or-treat, cash-or-candy efforts.

Jeffrey Kleintop, chief global investment strategist at Charles Schwab, says that the market and economy are likely to slog through the election, the rest of the pandemic and the continuing recovery, but will come out positioned for a broad recovery late next year. Also on the show, John Cole Scott of the Active Investment Company Alliance answers audience questions about investing in closed-end funds, Toni Turner of TrendStar Trading Group discusses the current market fight -- visible in the technicals -- between buyers and sellers, and Jeff Zananiri, head trader at JoyoftheTrade.com talks stocks in the Market Call.

Paul Gruenwald, chief economist at SP Global Ratings, expects to see impressive growth numbers, but he doesn't find them exciting because the economy still has a significant hole to climb out of, and that the resurgent virus, trouble with stimulus and more are standing in the way of what should be a more-exciting recovery over the next few years. In another interview on the show, Esty Dwek, head of global market strategy for Natixis Investment Managers, agrees with a number of Gruenwald's points; she also notes that the comparative numbers are weird, but says that she expects the economy to get back to pre-pandemic, 2019 economic numbers, with the key issue being whether it happens before the end of 2022. This show also features Greg McBride of Bankrate.com on the site's landmark checking-account survey,. and Tom Lydon of ETFTrends.com making an online-retail specialty fund his ETF of the Week.

Brian Dress of Left Brain Investment Research says that earnings season is 'the Super Bowl and Olympics all rolled into one,' and with four of the FAANG stocks reporting on Thursday, he discusses in this week's Left Brain Thinking segment how to use earnings reports, transcripts and more to identify opportunities in stocks and bonds. Also on the show, author Roger Martin discusses his book, 'When More is Not Better: Overcoming America's Obsession with Economic Efficiency,' Matt Schulz of CompareCards.com talks about the troubles with store credit cards, and Maz Jadallah of AlphaClone covers the favorite stocks of hedge funds in the Market Call.

Mark Newton of Newton Advisors says that he expects the year to play out like 2018, when the stock market peaked in October and then suffered through the end of the year. Newton says that if the Standard and Poor's 500 breaks through 3,380 -- a level it nearly hit on Monday -- investors could be in for a slippery slope through December, a decline exacerbated by struggles among technology stocks and broader pressures facing popular stocks. Also on the show, Brian Estes of Off The Chain Capital talks bitcoin and cryptocurrencies, Sarah Berger of MagnifyMoney.com discusses the regrets investors report feeling over stocks they sold at the beginning of the pandemic, and David McInnis of the East Paces Group discusses how to deal with the volatility he expects to see after election day,

Mona Mahajan, US investment strategist at Allianz Global Investors,says that while investors sense the disconnect between the market and economy, the stock market has been driven by a few giant businesses that have done well, even as the small-business community has suffered through the pandemic. Mahajan believes investors have a good opportunity now to position themselves for the rally that she thinks will be driven next year by improving economic data. Also on the show, Holly Ward discusses the latest outlook survey from the National Association for Business Economics, author Rob Hatch talks about making simple, straightforward decisions in today's complex world, and David Trainer of New Constructs puts a popular name-brand in the Danger Zone.

Jim Welsh of Smart Portfolios says that he expects the market to correct to where the Standard and Poor's 500 index down as low as 3,000 before a rally in the first two months of 2021 -- largely the result of the government's next stimulus package -- possibly bringing the index back to 4,000. At that point, however, Welsh is worried that the bull market could run out of steam, vulnerable to a 'much bigger correction' as the coronavirus problem drags on. Also on the show, Bryce Rowe of National Securities Corp. talks about the strong opportunities in business-development companies now, author Marc Levenson talks globalization and his new book on how what started as moving stuff around has now become a way to move ideas, and we rebroadcast a recent Market Call covering small-cap stocks with Jay Kaplan of the Royce Funds.

Brent Schutte of Northwestern Mutual Wealth Management says that the market and the economy are not as disjointed and disconnected as they seem at first blush, noting that the pandemic created an 'economic valley' that has mostly been filled by adaptive companies, federal policies, science pursuing vaccines and more. That has created a situation where Schutte believes the market can continue to performa and the economy can grow even with the virus problem unresolved. Also on the show, Tom Lydon makes a brand-new mid-cap focused fund his 'ETF of the Week,' Jim Callinan of Osterweis Emerging Opportunity fund talks about the secular market opportunities he sees happening now, and Susan Dziubinski of Morningstar Inc. discusses how the health-care industry is being reshaped by coronavirus.

Financial author, blogger and podcaster Meb Faber, chief investment officer at the Cambria Funds, says in a wide-ranging interview that investors need to stay focused on the process -- costs, fees and asset allocation -- and ignore 2020's constant noise. He discusses the ways that people fear lions and sharks but that it's creatures you aren't scared of -- like mosquitos and other people -- that actually cause the most deaths; likewise, investors focus on the news and not the boring stuff that truly determines how well their portfolios will perform. Also on the show, David Ellison, manager of Hennessy Large-Cap Financial and Hennessy Small-Cap Financial discusses banking, fin-tech, electronic and digital payments and more, and Noland Langford of Left Brain Investment Research talks about Crowdstrike and Uber, two growth stocks that earned a green light recently from the firm's disciplined research process.

Victoria Fernandez, chief market strategist for Crossmark Global Investments, says that while we might expect the market to react to the election and to fundamentals, the foreseeable future of the market will be driven by what happens with Covid-19 and the way the pandemic plays out. She expects the market to jump back clearly once we get through the pandemic and see a reduction in cases and the beginning to the end of a pandemic. Also on the show, long-term trader Michael Sincere says he thinks the disconnect between the economy and the market needs to be resolved and that he expects that the economy's dour message will win out with the stock market suffering as a result, Matt Schulz of CompareCards.com discusses how grocery spending has changed during the coronavirus troubles, and Chuck discusses the 10-year anniversary of his heart attack and how his life has changed since then.

Alexi Panagiotakopoulos, chief investment officer at Fundamental Income, discusses the bifurcated situation in commercial real estate -- where properties for shopping malls and other uses seem to be headed for extinction while support properties like gas stations and drive-thrus is exploding -- stemming from the coronavirus pandemic, while Scott Helfstein, executive director of thematic investing for ProShares, talks about how the pandemic has created transformational change that will make four specific industries the places to be going forward. Also on the show, David Goodsell of the Natixis Investment Managers' Center for Investor Insight discusses the firm's 2020 Global Retirement Index, and Kyle Guske of New Constructs puts a technology fund in the "Danger Zone."

David Tepper of Tepper Capital Management in San Francisco explains why he uses closed-end funds almost exclusively in his client portfolios, noting that in today's market conditions there are plenty of opportunities to build a well-diversified portfolio at a discount, and adding that even long-term closed-end fund investors need to be prepared to take advantage of times when discounts narrow suddenly, creating short-term chances for bigger-than-expected gains.

Tom Lydon of ETFTrends.com says that while the election could influence the sector, alternative energy companies are worth watching for now, and buying when the time is right. Lydon noted that a Joe Biden win in November could help solar-energy stocks, while a Donald Trump victory might hurt it, but the Invesco Solar ETF -- his ETF of the Week -- is so far above its 200-day average that investors should wait for a pullback to consider buying,but long-term should consider making solar a portfolio choice. Also on the show, author Margaret Heffernan discusses how to navigate the future in these particularly uncertain times, Francesca Ortegren of Clever Real Estate talks about the impact Covid-19 is having on mortgage payments and the real estate market, and Hank Smith of Haverford Trust Co. covers stock investing in the Market Call.

Retail specialist Dana Telsey of the Telsey Advisory Group says that the pandemic accelerated all of the big changes that were facing retailers and accelerated them, and while the result has been bankruptcies, consolidations and more -- and we won't be out of the woods until there's a stimulus package that boosts consumers -- there also are clear signs of how retail will survive and how the future for stores, malls and Internet offerings will look different. In another Big Interview, Lindsey Bell, chief investment strategist at Ally Invest, says that the market and economy are moving in the right direction -- generally in the direction of the 'old normal' -- but that it has been making that trip slowly and the pace likely won't pick up without resolution of stimulus efforts, a vaccine and more. Also, Brian Dress, director of research at Left Brain Investment Research, discusses the process that blends science with art to come up with names like Beyond Meat, a hot stock that he says still has major growth potential, and Ted Rossman of CreditCards.com talks about the high costs of retail-store credit cards and how they may not be the bargain they're made out to be based on check-out line discount promises.

Buck Klintworth, portfolio manager at Chase Investment Counsel, says that technicals show that the market's early October rise is no fluke and should have the ability to keep going, though if it moves the Standard and Poor's 500 Index to 3,600 it will have reached his expected level for year-end and will likely chop around and be volatile but mostly sideways into 2021. Also on the show, Kathy Bostjancic of Oxford Economics USA gives her take on how the economy can recover from the pandemic and how close the nation is to a long-lasting problem if economic stimulus is not offered to help the country get through troubled election and holiday seasons, and Allan Sloan of the Washington Post -- a legendary business journalist -- discusses President Trump's financial history and what it suggests he will do as he faces debt and tax issues that have made headlines in recent weeks.

A new survey of 401(k) participants done by Charles Schwab and Co. shows that baby boomers now believe they need a $1.6 million nestegg to retire comfortably, with millennials saying they must amass $2 million. Catherine Golladay of Schwab joins Chuck to discuss how and why retirement savers think reaching their goals is harder and requires more money. Also on the show, Doug Nordman discusses his new book, 'Raising Your Money-Savvy Family for Next Generation Financial Independence,' David Tainer of New Constructs warns of the dangers of ignoring footnotes in corporate filings, and we rebroadcast a recent Market Call interview with Eric Heyman of Olstein Strategic Opportunities.

Four very different experts join Chuck on today's show, and while they each maintain a different investment approach, they all agree that they like the looks of the market right now and they expect things to improve with the resolution of the election. Dan Zanger of ChartPattern.com talks technical analysis and notes that he is nearly fully invested, Ron Sanchez of Fiduciary Trust Co. International examines the fundamentals and notes that he is constructive over the long haul, and expects the market to grind higher through choppy, volatile times for the rest of the year. Peter Vanderlee of ClearBridge Investments and the closed-end LMP Capital and Income fund discusses the importance -- and good value -- of dividend stocks to income generation now, and quantitative manager Robert Zuccaro of Target QR Strategies discusses his growth-driven stock approach in the Market Call.

Ed Clissold, chief US strategist for Ned Davis Research, says that the market has a good chance of 'getting pretty deep into 2021' in a bull market, but that to get there stocks must first get past the uncertainty of the election and the pandemic; he notes that once the market feels good about calling a winner in the presidential election, it is likely to get a boost regardless of which candidate earns the consensus, if only because knowing the outcome provides more solid footing that wondering who will win and whether the results will go through. Also on the show, author Ashley Whillans discusses her new book 'Time Smart' -- out this week -- and how people can reclaim the time they are losing to get more done and be happier and less stressed, Tom Lydon of ETFTrends.com makes a hot, trending home-building fund his 'ETF of the Week,' and Chuck discusses his plans for a Covid-safe cash-or-candy Halloween.

Thomas Winmill, manager of the Midas Fund, says that 27 percent gains over the last 12 months haven't taken the shine off of gold stocks, which are 'trading at very attractive multiples in terms of price to free cash flow.' Winmill notes that despite low inflation -- which reduces gold's efficiency as a hedge against rising prices -- and lower-for-longer interest rates, precious metals remain attractive during uncertain times, which is why gold prices have held up against the coronavirus pandemic and have seemed impervious to election news. Also on the show, Noland Langford of Left Brain Investment Research highlights some 'Covid stocks' that come from industries and businesses that most people don't think have futures tied to the pandemic, Ryan Sweet of Moody's Analytics discusses the latest National Association for Business Economics outlook survey, and Rob Isbitts of Sungarden Investment Management and thehedgedinvestor.com covers exchange-traded funds in the Market Call.

David Goerz, chief investment officer at Strategic Frontier Management says that while the current momentum is with large-cap growth stocks, he expects small-cap stocks and the value style of investing to be the right call for longer-term investors, noting that he would be gravitating his asset allocation towards sectors filled with value-oriented issues -- like financials, industrials and real estate -- while avoiding areas like consumer staples and health care. Jay Kaplan, manager of the Royce Small Cap Value and Royce Total Return funds echoed many of those sentiments in the Market Call; both money managers disliked the energy sector. Also on the show, Jeffrey Bierman, chief market technician at TheoTrade.com, says that while the market has been rising, thin volume suggests that the current rally is not well supported and could turn on a dime, while Meredith Stoddard, vice president of life event planning at Fidelity Investments discusses the firm's 'Moving Forward' survey released today, looking at how investors attitudes about their financial futures have been changed by the coronavirus pandemic.

Greg Valliere, chief U.S. policy strategist for AGF Investments, says he believes the 2021 economy will be okay and show signs of life, but that political unrest between the election and any further coronavirus stimulus is likely to make the remainder of 2020 volatile and lackluster. Also on the show, David Goodsell of the Natixis Investment Managers' Center for Investor Insight talks about the mixed market outlook expressed by the professional strategists consulted in a recent survey, David Trainer of New Constructs highlights an accounting-rules change that is making it harder for investors to uncover bad news and a true picture of certain stocks, and Rob Reilly of PRW Wealth Advisors taks mutual funds and ETFs in the Market Call.

Sam Hendel, president of Levin Easterly Capital, says in the Market Call that the market being near record highs hasn't made it significantly harder to find value stocks poised for strong performance, especially if you are willing to be somewhat contrarian. Also on the show, Terry Gallagher from UMB Fund Services talks about developments in closed-end funds, most notably the evolution of tender-offer funds, Matt Zajechowski of Digital Third Coast discusses a recent survey on the impact of Covid-19 on prices consumers are paying at the supermarket and elsewhere, and author Jame DiBiasio, chats about his book 'Cowries to Crypto: A History of Money, Currency and Wealth.'

Two Big Interview guests today raise questions about the long-term recovery of the economy from the coronavirus pandemic. Lale Topcuoglu of J.O. Hambro Capital Management says that the market assumes that the economy will recover quickly, butworries that a slower rebound and lower growth rates than expected could lead to deterioration in the fixed-income and credit markets, while Nigam Arora of The Aurora Report discusses how the market and economy will respond to additional stimulus and how the expansion of the national debt will eventually turn into a problem. Also on the show, Tom Lydon of ETFTrends.com makes a fund that seeks out cash cows his 'ETF of the Week,' and Rebecca Gramuglia of TopCashback.com discusses how consumers can get more out of their holiday shopping budget if they start planning now.

Michael Falk of Focus Consulting Group returns to Money Life for an update not only on his struggles with Lou Gehrig's Disease, but also on how changes to the market and economy should have all investors asking one key question that should determine what they do next. The show adds a new regular to the lineup with the debut of Left Brain Thinking; Noland Langford of Left Brain Investment research discusses 'election-proof stocks.' Also on the show, Sarah Ketterer of Causeway Capital Management talks international value investing and more, and Vivian Tsai of the College Savings Foundation covers how Covid is changing the way parents and students are thinking about college.

Scott Colyer, chief executive/chief investment officer at Advisors Asset Management, says that the Federal Reserve has primed the pump for the market, but noted that investors need to display some caution. Colyer points out that many people took their stimulus check to the broker and started investing, and all of that enthusiasm tends to be a danger sign for what lies ahead. While Colyer is cautious, he remains fully invested, though he believes investors need to diversify away from the hot stocks and think more broadly. Also on the show, Michele Schneider of MarketGauge.com sees the market's technicals as largely favorable, but with worry signs, John Divine of US News and World Report discusses the hot IPO market and what to expect from new issues for the remainder of the year, and Gary Bradshaw of the Hodges Funds discusses blue-chip stocks in the Market Call.

Niladri Mukherjee of Merrill Lynch Bank of America Private Bank says that investors are more bearish now -- with the Standard and Poor's 500 Index at 3,300 -- than they were when the benchmark stood 1,000 points lower at the bottom of the market's February-March blood-letting. That sentiment is helping to create a pent-up demand that turns most declines into buying opportunities, and is why the market, according to Mukherjee, is entering a new bull cycle, rekindling the secular bull market that started about seven years ago. Brian Kraus of the Hartford Funds talks about a recent survey in which investors discussed how the outcome of the presidential election will impact their investment decisions, Andrew Hsu of the DoubleLine Funds discusses the impact that the election will have on infrastructure spending and project bonds, and David Trainer of New Constructs puts Dropbox stock in the 'Danger Zone' saying it is significantly overpriced now.

John Kosar, chief market strategist, says the data is telling him that the stock market is due for a short-term pullback, noting that the Standard and Poor's 500 has been hovering in a range signalling a downturn in the offing, looking like it could test current support at the 3,233 level. If the market breaks support from there, Kosar says to expect the 200-day moving average level of roughly 3,100 to be the next test, and that the market could get to it and beyond fast before a rebound comes into view. John Cole Scott of Closed-End Fund Advisors and the Active Investment Company Alliance opens the show by looking back at the first year of The NAVigator segment and the tough and changing year it has covered in the closed-end space, while also looking ahead with some picks for the year ahead. Also on the show, Robert Hockett, author of "Money From Nothing ... Or, Why We Should Stop Worrying About Debt and Learn to Love the Federal Reserve" discusses the economic fallout from current events, and Daniel Dolan of Dolan-McEniry discusses the current state of the corporate-bond market.

Mike Calwell, manager of the Driehaus Life Sciences Fund, says that while investors are focused on the coronavirus pandemic and the companies poised to cash in on developing a vaccine, the next decade for life-sciences stocks should include wide-ranging personal health developments combatting things like heart disease and cancer that will still be among the nation's biggest killers long after the virus has passed. Caldwell suggests investors focus on the long-term and the more permanent opportunities, noting that some of the public funding to combat Covid-19 will contribute to advances in many other areas. Also on the show, author Steve Vernon talks about his latest book on the steps investors can take to avoid going broke in retirement, Matt Schulz of CompareCards.com discusses consumer savings amid the pandemic, and Tom Lydon of ETFTrends.com makes an IPO stock his 'ETF of the Week,' suggesting that investors may want to keep a permanent allocation to new and nascent stocks.

John Blank, chief market strategist and economist at Zacks Investment research, says that for all of the stock market's volatility and its headline-induced nervousness, results have been mostly average and investors who look at the long run can easily recognize that the market has been sticking with historic norms despite feeling like it has been put to historic extremes. Also on the show, Chuck answers audience questions about the 'bucket system' of saving for retirement and on the spreads an investor might pay to be a long-term social investor, author and entrepreneur Ken Rusk discusses his book 'Blue Collar Cash,' and Sarah Berger of MagnifyMoney.com discusses the site's latest survey, which shows that just 17 percent of investors 'completely trust the stock market.'

Jeff Klingelhofer, co-head of investments at Thornburg Investment Management, says that investors should be nervous and defensive because of the disconnect between the economy and the stock and bond markets, noting that he worries that the Federal Reserve is ill-equipped for fighting unemployment in addition to its traditional role of combating inflation. Despite the worries, Klingelhofer still believes that the domestic market is the best place to invest. Also on the show, Jeff Krumpelman of Mariner Wealth Advisors says he believes the market is headed for a correction, though he believes there is a solid foundation to enable a reasonably quick recovery from any decline. Also on the show, Ken Tumin of DepositAccounts.com discusses how consumers are changing their banking habits in the pandemic, and Mike Liss of American Century Value Fund talks relative-value investing in the Market Call.

Ben Hunt of Epsilon Theory says that 'every effective CEO today is a CEO who can tell a story and create a narrative that may or may not have anything to do with real-world performance,' and he says that investors have to cut through those stories to figure out what is real and what is overblown, disconnected from fundamentals and economics. He notes that investors must make up their own minds, rather than falling easily for the stories. Also on the show, James DiChiaro of the BNY Mellon Core Plus Fund talks about generating income in a low-rate environment, David Trainer of New Constructs puts Peloton stock in the 'Danger Zone,' saying it's sky-high valuations are taking investors for a ride, and Catherine Collinson of the Transamerica Center for Retirement Studies discusses recent research showing how retirees are already feeling long-term impacts to their money and mindset due to the coronavirus pandemic.

Jeff Weniger, director of asset allocation at WisdomTree Asset Management, says that investors need to put potential election outcomes into their plans ahead of time, and he notes that the reaction should include how each candidate is likely to respond to the coronavirus pandemic from here. Weniger says, for example, that investors should overweight financial is they expect a Trump victory -- which he does -- and reduce exposure to banks and investment firms if they expect a Biden win. Also on the show, Joe Keefe, president of the Pax World Funds, discusses how social investors should be thinking about their influence in the wake of the wildfires sweeping the West Coast, as well as his expectations for the market through the election, Mark Hamrick of Bankrate.com covers the site's latest survey on Americans' current level of personal financial satisfaction under President Trump, and Daniel Wildermuth of Wildermuth Wealth talks about the benefits of investing like an endowment within a fund structure that forces investors to hold -- and think -- long-term.

Abhay Deshpande, chief investment officer at Centerstone Investors, says that the market's February-March swoon created the best situation that value investors had seen since the financial crisis of 2008, and that the recent rebound back to record-high ranges hasn't diminished the value prospects for a lot of businesses. Deshpande says that 2020 by the numbers -- rather than the events that have caused them and hijacked the headlines -- is reasonably close to what he might have expected at the start of the year. Also on the show, Tom Lydon of ETFTrends.com picks a brand new fund with ties to the Nasdaq Compiste Index as his 'ETF of the Week,' Matt Schulz of CompareCards.com discusses the impact that a $500 debt repayment will have on the average credit score, and Eric Heyman of the Olstein Strategic Opportunities fund makes his debut talking stocks in the Market Call.

Simeon Hyman, global investment strategist for ProShares, says that while investors have focused on technology and health-care stocks during the pandemic, the pet-care industry has been thriving, buoyed not only by increased demand but by the consistent way in which pet owners spend on their pets. The ProShares Pet Care ETF is up nearly 30 percent this year and Hyman said that steady gains and growth will be the real, long-term story of the fund. Also on the show, author Dawn Starks talks about 'Simplify Your Financial Life,' her book that has over 100 tips to help people take better control of their money and time, and Francisco Bido of Integrated Alpha and the F/m Large-Cap Focused Fund talks the art and science of his mostly quantitative approach in the Market Call.

Technical analyst Katie Stockton, founder of Fairlead Strategies, says that the stock market's winter swoon may have set it up for the current recovery and helped it avoid a bubble, but she warns that her outlook for the market in the short run is negative. The decline she sees coming, however, should prove to be a buying opportunity, because her long-term market expectation is positive and bullish, meaning that investors should be rewarded for buying into the trouble ahead. Also on the show, Rance Masheck of iVest Plus talks about the new wave of traders and whether conditions are right to lure newbies into the market only to give them a beating, Ted Rossman of Bankrate.com discusses home improvements and how people who need them mid-pandemic are paying for them during times when money is tight, and Leah Bennett of Westwood Wealth Management talks bottoms-up stock-picking and large-cap companies in the Market Call.

Martin Leclerc, chief investment officer at Barrack Yard Advisors, says in the Money Life Market Call that the stock market is currently poised to disappoint investors 'for at least a decade if not longer,' yet despite risk levels that he compares to past market meltdowns like 2008 and 1929 there are still some values worth buying for the long haul. Also on the show, Marc Zeitoun of Columbia Threadneedle on the ways exchange-traded funds are changing and how it affects the way investors use them, David Trainer puts Snap Inc. in the 'Danger Zone,' and Jacob Golstein -- best known for his work on the Planet Money podcast -- discusses his book, 'Money: The True Story of a Made-Up Thing.'