Money Life with Chuck Jaffe

Giles Coghlan, chief currency analyst at HYCM, says that while domestic investors see trouble based on the US market, the coronavirus is having a global impact on markets that is still in the early stages of being sorted out. Coghlan notes that investors who maintain a three- to five-year outlook might find themselves buying into troubled industries like oil, but that anyone with a short-term view can't call a bottom yet, which is why investors should lengthen their time horizons and consider bargain hunting. Also on the show, Tom Lydon of ETFTrends.com makes a long-term Treasury fund his ETF of the Week, Dave Du Val of TaxAudit.com discusses how Americans are struggling to know IRS rules changes, and Bruce Kaser of The Turnaround Letter discusses in the Market Call the impact of the current decline on the types of troubled companies he pursues.

Chun Wang, portfolio manager at the Leuthold Group, says that the Treasury market and credit market are sending two different messages, with the Treasuries actions signaling that the Federal Reserve must move and that recession risk is up, even as the credit market is suggesting that the environment remains healthy. Wang says that coronavirus is less of a market catalyst than an accelerator, bringing troublesome trends to the fore faster than anticipated, but he says that ithe virus economy could trigger a broad recessio in the next six to 12 months. Also on the show, Adam Thurgood of HighTower Advisors Las Vegas talks about implementing -- and sticking with -- a defensive strategy in your portfolio, Jill Gonzalez of WalletHub.com discusses the surprising number of Americans who anticipate missing a credit-card payment this year, and Brian Yacktman of the YCG Funds -- whose YCG Enhanced was the top-performing large-cap growth fund of 2019 -- talks 'enduring pricing power' in the Market Call.

David Wright, lead portfolio manager of the Sierra Mutual Funds, says that Monday's market action put the stock market into oversold territory, but he warned against jumping in now because he expects any snap-back rally to be offset by further declines before the market finds a bottom, and investors who race in could 'catch a falling javelin' if they fall for 'false rallies.' Wright, whose indicators have him out of the market now, believes the current decline is the start of a longer-term bear market. Meanwhile, George Milling-Stanley, chief gold strategist at State Street Global Advisors, believes the outlook for precious metals is promising in the face of so much global market turmoil and uncertainty, noting that he expects gold to resume its recent climb once the market steadies and he expects it to stay solid while the broader market struggles. Also on the show, Chuck talks about reacting properly -- rather than over-reacting -- to the market right now, and Adam Winslow of AIG Life Insurance discusses a study out today showing the strong emotions that can be tide to a lack of protection.

Jeff Weniger, director of asset allocation at WisdomTree Asset Management, said that the economy was slowing globally before recent troubles and the likely temporary economic effects of coronavirus, and he expects the market to see through the slowdown being caused by the epidemic to avoid long-term trouble, but only after there is more pain market pain. Meanwhile, gas prices are falling, mortgage rates are falling and there are more conditions that will help the market and economy rebound. Also on the show, Ken Tumin of DepositAccounts.com discusses a survey about consumers' financial mistakes, Kyle Guske of New Constructs puts two stocks into the Danger Zone, and Mark Travis, manager of the Intrepid Funds, talks stocks in the Market Call.

Brandon Thurber, director of the investment research group at Regions Asset Management says that current market events haven't changed his long-term market outlook, because the economic effects of coronavirus are likely to be transitory. He expects a rollercoaster market at least until election day. Likewise, Kristina Hooper, chief global market strategist for Invesco, believes the market's turbulence and the downward pressure exerted by current events, are short-term in nature, saying that patient investors will be rewarded for staying calm. Also on the show, Michael Gayed of The Lead-Lag Report -- which generated a sell signal late in January before the market started to falter -- says he is looking for the bond market to signal when it's an appropriate time to get back into the stock market, and Seth Brufsky of Ares Dynamic Credit Allocation Fund talks high-yield investing in The NAVigator.

Lawrence McDonald, creator of The Bear Traps Report, says that the global economy and business environment are poised to see trillions of dollars leave the United States in favor of international investments in the next two years, a trend that will mute the domestic stock market and make it hard to keep pushing forward. Still, McDonald sees the domestic market rebounding, so that any down action caused by the changing business climate will prove a buying opportunity long-term. Also on the show, Tom Lydon of ETFTrends.com makes an unusual real estate-oriented fund his ETF of the Week, Ted Rossman of Bankrate.com discusses the billions in unused gift cards and shopping credits that are going unspent, and Ryan Jacob of the Jacob Funds -- an aggressive-growth technology investor -- talks stocks in the Market Call.

Roger Shaffer of HighTower Advisors, says that individual investors planning their way through the current market turmoil need to focus on process and their ultimate goals rather than on the market's trends, reviewing their risk tolerance and their phase in the financial cycle to make decisions that focus on personal circumstances rather than the market. Also on the show, Dr. Ted Klontz of the Financial Psychology Institute discusses how he believes investors should change some of their savings habits to better reach their goals, Doug Roberts of Channel Capital Research weighs in on the Federal Reserve's big rate cut and what it portends for the future, and Roger Conrad of Conrad's Utility Investor talks about energy and utility stocks in the Market Call.

Jeffrey Hirsch of Stock Trader's Almanac said that while investors are focused on the coronavirus troubles and the election year, he believes the market showed its cards when it scored badly on the 'January Barometer' and other technical measures, signalling that it is likely to be flat and volatile for most of the year. Hirsch also discusses how and how long epidemics of the past have affected the market. Also on the show, author Mike Jaccarino discusses 'America's Last Newspaper War,' Nathan Grant of Credit Card Insider discusses tax refunds and credit-card debts, and Jeff Auxier of Auxier Focus Fund discusses value investing in stocks in the Market Call.

Dec Mullarkey, head of investment strategy at SLC Investments, said the market's action last week represented a 'fairly orderly repricing of risk' in the market, even though the headlines make it seem more dramatic than that. Mullarkey said he expects there to be at least a 'second leg' to the downturn and noted that he'd be patient waiting for more economic data and to see the spread of the coronavirus before he believes any rally represents a real change of direction. Also on the show, Greg McBride of Bankrate.com talks about Americans' imbalance between debt reduction and emergency savings, David Trainer of New Constructs puts a stock that is already on the decline into the Danger Zone saying it could go all the way to zero, and Dana D'Auria of Symmetry Partners talks funds and ETFs in the Market Call.

Bill Nygren, manager of the Oakmark Fund, notes that there is always some sort of crisis or problem that threatens the market, and that investors need to remember that their objective is a real-life financial goal and not winning some game of beating the market now, and he notes that there are compelling values -- even before the current downturn -- that long-term buyers should be considering now rather than focusing on the fallout from coronavirus and other short-term events. Also on the show, Michael Sincere -- who warned of the current downturn on the show at the start of February -- returns to discuss what is next from a technical standpoint now that the Standard and Poor's 500 has broken below its 200-day moving average, Rick Konrad, director of value strategy for The Roosevelt Investment Group talks about value investing's natural advantage in closed-end funds, and Mark Charest of the AlphaCentric LifeSci Healthcare Fund talks biotech and pharmaceutical issues in the Market Call.

Personal finance journalism legend Jane Bryant Quinn joins Chuck today for two interviews, the first focused on the reboot of her book 'How to Make Your Money Last,' the second about the state of the financial media and more. In 1995, Quinn labeled most personal finance journalism as 'financial pornography,' appealing to the worst characteristics of investors; the media world has changed dramatically, but her feelings for much of the information out there have not. Also on the show, Tom Lydon of ETFTrends.com makes the sister fund to a big, brand-name issue his ETF of the Week, and Nan Morrison on the Council for Economic Education discusses financial education and literacy in the nation's school systems.

Michael Falk of Focus Consulting Group returns to the show for a very personal discussion with Chuck -- a conversation they plan to revisit regularly -- about how he has dealt personally and financially with the diagnosis that he has ALS, or Lou Gehrig's Disease. They discuss what goes through the mind of a lifelong planner around money and finances, and the plans for Falk's future, however long it will be, in a unique Big Interview. Also on the show, Matthias Kuhlmey, head of development for HighTower Advisors returns to the show for the first time in about two years to talk markets and planning, Shobin Uralil of Lively discusses how and where Americans spend their health care savings dollars, and Gerry Frigon of Taylor Frigon Capital Management talks stocks in the Market Call.

Ken Berman, strategist at Gorilla Trades, said that despite a 1,000 point sell-off in the Dow Jones Industrial Average Monday, the market still looks good from a long-term perspective. He says long-term technicals remain bullish, and he is optimistic that the coronavirus scare could convince leaders in China and the U.S. to get down to serious trade negotiations faster than without the potential pandemic. Also on the show, Kristen Dillard of Quicken on why most New Year's resolutions are forgotten by now, Simon Lack of SL Advisors talking energy stocks in the Market Call, and Chuck answering an audience member's question on using stop-loss orders to protect against the market's volatile edges.

William Smead, manager of the Smead Value Fund, has been bearish on energy stocks and oil companies for years, but he says in the Market Call that the market has been shifting, which makes energy stocks worth buying. He notes that demographics showing that millennials will double their use of gasoline -- despite the increased acceptance of alternative-energy engines in cars -- and that recent troubles have improved valuations of big oil and energy to where they are worth buying. Likewise, he sees a powerful trend in household formation among millennials that will help home-builders and other consumer businesses. Also on the show, Gerri Walsh of the FINRA Education Foundation talks about investor knowledge levels, Vince Annable discusses the 'Household Endowment Model' for managing money, and David Trainer of New Constructs puts two stocks in the Danger Zone.

Francesca Ortegren of Clever Real Estate discusses the cities and communities where individuals are most likely to live paycheck-to-paycheck and why those communities are so hard for making ends meet, and Chuck has to come to grips with the idea that one of his kids currently lives in the worst place in America for getting by. Also on the show, John Cole Scott of the Active Investment Company Alliance talks muni bonds and preferred stocks held in closed-end funds, author Jean O'Toole discusses scholarship opportunities that most students overlook, and Bill Kornitzer of the Buffalo International Fund talks global investing in the Market Call.

In separate interviews, Matt Harris, head of the outsourced chief investment officer division at HighTower Advisors and Sheraz Mian, director of research at Zacks Investment reason, both urge investor caution in the near-term future, but for very different reasons. Harris, a technical analyst, notes the recent strength of the Standard and Poor's 500 index compared to its moving 200-day moving average -- the benchmark is 11.5 percent above the average, which has occurred less than two percent of trading days over the last decade -- generally results in a two to five percent decline in two weeks to three months from when it first occurs. Mian, meanwhile, notes that while the current earnings period has been strong, there are signs of weakening results going forward, which combined with events like coronavirus should mute second- and third-quarter earnings.results. Also on the show, Julie Genjac of Hartford Funds discusses adviser expectations for 2020, and Corey Hoffstein of the Newfound/ReSolve Robust Equity Momentum Index talks stocks and ETFs in the Market Call.

Frank Holmes, chief investment officer at US Global Investors, says that airline stocks have been sold down as a result of the coronavirus epidemic, and he expects them to have 'a super surge' -- along with hotels and luxury goods companies -- when the crisis ends, which he thinks is just a quarter away. Holmes also discusses gold, blockchain and more in a wide-ranging Big Interview. Also on the show, Tom Lydon of ETFTrends.com puts the rare bad word in about a specialized fund that he thinks is due for a long stretch of trouble, Brodie Gay of Unison talks real estate appreciation, and Gary Bradshaw of the Hodges Blue Chip Equity Income fund talks brand-name companies in the Market Call.

Adam Grimes of Talon Advisors has a bullish market outlook, noting that extraneous market events like coronavirus don't typically derail longer, larger market themes, and aren't going to overcome the current forces driving the market for the foreseeable future. Also on the show, financial adviser and author Michael Falk discusses how public discussions of entitlements and other big financial topics must change to avoid collapsing, Richard Barrington of MoneyRates.com on how much Americans overpay on credit-card debt, and Christopher Zook of CAZ Investments makes his debut talking stocks in the Market Call.

Brian Beitner, portfolio manager of Chautauqua International Growth and Chautauqua Global Growth, says that the market and the global economy are in a delicate condition, which raises fears of how an event like coronavirus could create a downturn. Beitner says he thinks the virus situation is transitory and that the market recognizes that it's not going to crash the market or create once-in-a-lifetime buying opportunities in China and emerging markets; he recommends finding stocks with 'durable stories' to get through choppy, volatile markets. Separately, William Delwiche of Baird says the current rally remains healthy from a technical standpoint, noting that so long as market breadth is strong, investors should not fight the trend. Also on the show, Tony Huang of Advent Convertible and Income Fund talks convertible and closed-end fund investing in The NAVigator, and Garvin Jabusch of Green Alpha Advisors covers stock investments with a social point of view in the Market Call.

Tom Lydon, editor of ETFTrends.com, said that investors looking for a trend play in a market dominated by headlines of and reactions to coronavirus might consider KraneShares MSCI All China Health Care Index, making a tactical play on a defensive emerging-markets sector that balances the fundamentals of China's enormous demographics with the reactions to the news. Lydon, in describing the fund, did suggest that investors only consider it as a trend-following type of investment, and suggested that buyers might want to follow short-term moving averages to set their stops. Also on the show, author Michele Cagan discusses her new primer on debts and how to get out of them, Anuj Nayar of LendingClub.com talks about a study on the reasons why men and women keep financial secrets from their partner, and Barry James of the James Advantage Funds talks stocks in the Market Call.

Michael Power, strategist at Investec Asset Management, an international money manager, says that something doesn't look right with the American stock market back at record high levels and seemingly 'walking on air' despite the recent inversion of the yield curve and economic numbers that show slowing and increasing weakness. The U.S. market remains the world's strongest, Power said, but that difference is less pronounced, and valuations in other countries may make it so that international investments -- especially in emerging markets -- are more attractive than U.S. stocks and bonds going forward. Also on the show, Jim Ewing of HighTower Advisors discusses how current market conditions make this a particularly good time to rebalance a portfolio, Sarah Foster of Bankrate.com discusses Valentine's Day spending, and Louis Navellier of the Navellier Funds talks about growth stocks in the Market Call.

Markus Schomer, chief economist at PineBridge Investments, says he is pricing two rate cuts from the Federal Reserve into his forecasts, and note that so long as investors believe the Fed will come to their rescue and cut rates to pump up the economy, the market will keep going higher. Also on the show, Jeff Bishop of RagingBull.com says that market conditions make this a great time to be trading on dips, Ted Rossman of CreditCards.com discusses financial infidelity, and Jeff Mills of Bryn Mawr Trust talks growth stocks and asset-allocation strategies in the Market Call.

Kyle Guske, investment analyst at New Constructs, puts Transamerica Capital Growth Fund into the 'Danger Zone,' noting that the fund is buying the most high-risk, dangerous securities in its asset category. The Transamerica fund has been near the top of the charts in four of the last seven calendar years, but it also has been near the very bottom in the other three of those years; Guske said the holdings in the fund are part of the symptoms that lead to the feast-or-famine performance. Also on the show, Matt Schulz of CompareCards.com talks about Valentine's Day spending habits, Nick DiUlio of InsuranceQuotes.com discusses couples' saving money on insurance, David Stein discusses 'Money for the Rest of Us' and Chuck answers a listener question about the ways he is keeping the change this year.

Stephen Yacktman, chief investment officer at the Yacktman Funds, says in the Market Call that while the value investment style has lagged growth in recent years, that does not mean investors haven't been able to generate reasonable relative returns that live up to appropriate expectations. He did note that managers may have to look further afield to find some of those bargains and values, and noted that he is looking abroad more now as pricing abroad is more likely to meet his criteria given that domestic markets are at all-time highs. Also on the show, John Yesford of High Income Opportunities talks return of capital in The NAVigator, author Randy Charles Epping discusses 'The New World Economy,' and Kevin Davey of KJ Trading Systems gives his technical take on the market.

In the face of coronavirus, the election cycle and other volatility-generating events, Tom Lydon of ETFtrends.com made a hedge-like defensive 'anti-market' fund his pick for 'ETF of the Week.' Also on the show, author Richard Davies discusses 'Extreme Economies,' John Boroff of Fidelity talks about retirement preparedness, and Scott Klimo of Saturna Capital covers stocks in the Market Call.

Jimmy Hausberg, managing partner at The Hausberg Group in Beverly Hills, Calif., said during Collective Wisdom from HighTower Advisors that headlines like the coronavirus outbreak or even news of the presidential cycle shouldn't be ignored, but he noted that investors should use those events as a chance to review their portfolio rather than trying to capture short-term profits in ways that can derail long-term strategy. Also on the show, Carl Kaufman of the Osterweis Strategic Income Fund gives his outlook on global central banks and interest rates, Geoffrey Brown of the National Association of Personal Financial Advisors discusses the state of financial planning, and Mike Larson of Weiss Ratings discusses his 'safe money' approach to stocks in the Market Call.

Technical analyst Michael Sincere explains that the coronavirus crisis may not be a market event, but it has unleashed danger signs and triggered a weakening of the stock market that could put an end to the long-running bull market. He was clear to avoid calling for a bear market, but he said he expects a significant increase in volatility and sideways market action which will make for a 'difficult market to navigate for most people.' Also on the show, Anastasia Nesvetailova, co-author of 'Sabotage: The Hidden Nature of Finance' talks about the underlying instability of global markets, Ted Rossman discusses the recent Bankrate.com study showing that many consumers aren't getting nearly as much cash back on cash-back cards as they could, and Janet Brown of No-Load FundX talks mutual funds in the Market Call.

Veteran money manager Sam Stewart, partner at Seven Canyons Advisors, said that while the market is at record highs, valuations are bifurcated to where the popular names like the FANG stocks and many technology names are too expensive, but that other names have become attractive because they are growing at a time when the economy is slowing. Also on the show, John Kiernan of WalletHub.com talks about how many consumers fear maxing out credit cards, David Trainer of New Constructs pus another pre-IPO stock in the 'Danger Zone,' and Mike Bailey, director of research at FBB Capital Partners, does some pairs trading in the Market Call.

On a day with two Big Interview segments with top-flight market strategists, listeners may get a sense that the stock market has gotten ahead of itself with a strong January and that the rest of the year is likely to be more frustrating, volatile and sideways. But Reed Murphy of Calamos Wealth Management suggests that investors who want to get more from the market will want to step up their international investments, while Jack Ablin of Cresset Capital Management is much less optimistic about the potential of foreign investments to deliver superior returns. Also on the show, Nicholas Shaxon discusses his book on how global finance is making us all poorer, and Christian Munafo of SP Investment Management discusses one of the market's most unusual and different closed-end funds.

Giorgio Caputo, senior portfolio manager at J.O. Hambro, coins the term 'Woo Flu Wobble' to discuss this week's heightened volatility spurred by news about coronavirus. He expects the news to pass without damaging market prospects, but he notes that markets will remain volatile through the end of the year and cautions that 'This isn't your grandparents' volatility.' Also on the show, Tom Lydon of ETFTrends.com makes a hot fund that is part technology, part-commodity his 'ETF of the Week,' Jeff Gurian of Gametime discusses the high, unyielding and slightly surprising trends in Super Bowl ticket prices, and C.T. Fitzpatrick of Vulcan Value Partners talks value investing in the Market Call.

Victoria Fernandez, chief market strategist at Crossmark Global Investments, says that investors were looking for reasons for the market to retreat, and found it this week in coronavirus, but could find it further in missed earnings or other headlines. Those perceived dangers may slow the market's uptrend, but they won't make market conditions move from benign to dangerous on the long term. Also on the show, Jake Falcon of HighTower Advisors warns of the dangers of being sucked into news-driven stocks, like those that could profit from coronavirus or fromrecent tensions in the Middle East, Matt Schulz of CompareCards.com talks about how many consumers ignored warnings and took out high-rate retail-store credit cards during the holiday season, and Ben Cook of Hennessy BP Energy and Hennessy BP Midstream talks energy stocks in the Market Call.

D.R. Barton Jr. of StraightUpProfits.com says that the market is likely to over-react this week to news about the corona virus and corporate earnings -- with nearly half of the Dow industrial stocks reporting earnings -- and he notes that the frothy should create a buying opportunity for investors, although they should be patient to let the downturn play out before buying in fully. That sentiment was seconded by J.J. Kinahan of T.D. Ameritrade, who notes in the Big Interview that most experts are expecting single-digit gains for the stock market in 2020, and that he mostly agrees with those expectations, except that the market's strong January means that the second half of the year is likely to be choppy, volatile and mostly sideways. Also on the show, Greg McBride of BankRate.com talks about Americans' emergency savings, and then Tom Plumb of the Plumb Funds covers growth stocks in the Market Call.

Kevin Mahn of Hennion and Walsh said everything is in place for the stock market to have a good year in 2020, but that what looks good will feel very different than the 30+ percent gain of a year ago. Mahn said he expects the market to gain roughly 9 percent ni the first half of the year, before flattening out and offering volatility with little direction through the election and into 2021. Also on the show, Leonard Wright discusses the AICPA Personal Financial Satisfaction Index and how much happier investors are now than they were a decade ago, Kyle Guske of New Constructs puts an overblown stock into the Danger Zone, and Matt King of King Wealth Advisors talks funds and ETFs in the Market Call.

Steve Rick, chief economist at CUNA Mutual Group and an economics professor at the University of Wisconsin, talks about the current economy in glowing terms and says he sees strength continuing without interruption or a recession for the foreseeable future, noting that even as economic growth slows, he can see a strong rebound on the horizon for 2023. Thus, while there are potential storm clouds, he doesn't see them lasting for long if they hit home at all. Also on the show, Mitch Reiner of Capital Investment Advisors talks about income investing in The NAVigator, Tom Lydon makes a brand new specialty fund his ETF of the Week, Mark Hamrick of Bankrate.com talks about who is affected by bank fees and how much they're paying, and Zach Johnson of Stack Financial Management covers the market's technical outlook.

Marc Lichtenfeld, chief income strategist at The Oxford Club, says that investors searching for yield need to be careful about not chasing payouts into bad stocks and tough securities, and yet notes that tactical investors can find some values with reasonable payouts for the long term. Also on the show, Chuck answers an audience question about portfolio construction, Ted Rossman of CreditCards.com talks about what people are using their credit cards to buy, and Michael Ball of Weatherstone Capital Management talks tactical ETF investing in the Market Call.

Behavioral finance expert Meir Statman, a professor at Santa Clara University, said that investors have become smarter about investing -- and have settled for capturing market returns rather than trying to beat the market -- and that staying smart requires shrugging off whatever the market dishes up and letting 'doing nothing' be a solid strategy for not being poor and hopefully for reaching a goal of being rich. Also on the show, Morgen Henderson of Choice Mutual discusses how finances are affecting people's final-resting choices, we revisit a recent discussion about risk with Adam Thurgood of HighTower Advisors, and Yuri Lobynstev of Cindicator Capital talks stocks, earnings and trading in the Market Call.

John Thompson, chief investment officer at Vilas Capital Management, said in the Market Call that he is expecting a huge reversion to the mean coming for value stocks, which is a big change because value 'has lagged the market almost every year since 2005.' Thompson said investors who have been patient with value stocks as they have lagged are likely to get paid off for their patience in the year ahead. Also on the show, Joe Keefe, head of the Pax World Funds talks about social investing in current markets, David Trainer of New Constructs reviews his best 'Danger Zone' selections from 2019, and Amanda Dixon from BankRate.com discusses her site's latest survey.

Long-time Wall Street observer Marc Chaikin of Chaikin Analytics says the stock market is entering what he calls 'blue-sky territory,' a point near the end of a bull market with no signs of recession on the horizon and no resistance to stop a run and make investors unhappy. While it won't last forever, Chaikin says investors can profit by shifting away from defensive stocks, noting that technology, health care and financials are the places to be this year. Also on the show, Jim Welsh of Smart Portfolios says the market's technicals mostly continue to support the ongoing uptrend, John Cole Scott of Closed-End Fund Advisors answers audience questions in The NAVigator, and Thomas Kirchner of the Camelot Event-Driven Fund talks about companies going through mergers in the Market Call.

Abhay Deshpande, chief investment officer at Centerstone Investors, says that the market and economy are set up for Europe to provide better returns than America, but he notes that the conditions for a major decline in the U.S. don't exist. Moreover, economic advancements make it less likely that investors will see a shocking, massive downturn in the future. Also on the show, Tom Lydon of ETFTrends.com makes a unique energy fund his 'ETF of the Week,' Chris Gatz of CreditWise talks about the decade resolutions consumers made at the end of 2019, and Chuck discusses the resolution of his recent complaint with Firestone Auto Centers and its financing arm.

Scott Colyer of Advisors Asset Management says that he would continue to avoid fighting with the Fed -- and with foreign central bankers -- which means he believes there will be plenty of opportunities for staying invested and growing a portfolio in 2020, although investors will want to take advantages of sector rotation that will see improved returns from value stocks, a bounce-back among energy companies and a 'generational opportunity' in commodities. Also on the show, Cory Bittner from HighTower Advisors talks about forecasts and how they impact advisory relationships, Terry Jones discusses the latest Investor's Business Daily poll on investor confidence levels, and Jane Edmonson of EQM Indexes discusses brand-name investments in the Market Call.

The best-selling personal-finance author of all time, Robert Kiyosaki of 'Rich Dad, Poor Dad' fame, visits Money Life to discuss his new book out today, 'Who Stole My Pension.' Kiyosaki discusses why he wouldn't invest in stocks, mutual funds or ETFs right now, though he never discloses what he would buy other than 'private investments.' Also on the show, two chats about technical analysis, first with Avi Gilburt of Elliott Wave Trader, who notes that the market is getting into a 'topping region' where he expects a modest pullback. If the market can hold at support levels, he sees green lights for at least half a year, noting he'd be articularly bullish on small-cap stocks. Meanwhile, Dan Zanger of ChartPattern.com is also bullish and says he expects to ride the current trends for at least the first half of the new year. Finally, Ted Rossman of CreditCards,cmo discusses the results of his site's most recent consumer poll.

Barry Ritholtz, chairman of Ritholtz Wealth Management and author of The Big Picture blog makes his first visit to Money Life and talks about the things he likes and dislikes the most about personal finance and investing today, discusses the evolution of index funds and how that invites improper use of them, and his outlook on forecasting and which predictions are worth listening to. Also on the show, David Trainer of New Constructs revisits his Danger Zone picks frmo 2019 and talks about three that didn't work out so well, and Stephen McKee of the No-Load Mutual Fund Selections and Timing newsletter talks momentum-driven mutual fund investing in the Market Cal

It's a day of looking at expectations and then deconstructing them as Chuck chats with Deb Clarke, global head of investment research at Mercer, about the firm's 2020 outlook -- which includes slower growth globally, better opportunities worldwide than in America and more -- and discusses technical analysis with Martin Pring of Pring Research who sees signs suggesting that any troubles ahead in the near term will be buying and trading opportunities because real market troubles appear unlikely in the year ahead. Christian Pittard of Aberdeen Asset Management talks about changes in structure and more that are helping make the closed-end fund market more attractive, before Seth Masters -- best known for a correct market forecast he made with Bernstein Private Wealth Management in 2012 -- looks at the factors and thinking that renders most forecasts weak and meaningless.

Alan Levenson, chief U.S. economist at T. Rowe Price, says that headline events like the impeachment and the conflict in Iran are not going to have much economic impact, but he noted that slowing growth, tighter employment conditions and more will contribute to slower growth during the first half of the year and that they ultimately will lead to a shallow recession down the line, somewhere after 2020. Also on the show, Tom Lydon of ETFTrends.com discusses investing in China amid the current trade concerns, Jill Gonzalez of WalletHub talks about how many Americans overspent their budgets during the holiday season, and Chuck answers a question from an audience member.

Joseph Brusuelas, chief economist at RCM, notes that tensions in the Middle East and how they affect the oil industry and the economy are worth watching, but says that the economy is different from the oil tensions of the 1970s, and is better prepared to deal with the turmoil than in the past. He expects moderate economic growth in 2020, although he notes that Boeing is the most important manufacturing company to the economy and that its recent problems will shave significant growth off the economy in the short term. Also on the show, Russel Kinnel of Morningstar discusses the latest 'Mind the Gap' study showing that investors are doing better relative to the performance of their funds than in the past, Howard Silverblatt discusses dividend results for the Standard and Poor's 500 in 2019, and we revisit a recent chat with David Bahnsen of HighTower Advisors on the intersection of politics and personal finance.

Bob Doll, chief equity strategist at Nuveen, releases his annual list of 10 forecasts for the coming year, noting that he expects economic growth to continue but that it won't be enough to keep stocks humming along. He expects domestic markets to struggle to reach single-digit gains, he prefers the outlook for international stocks, and he believes President Trump will win re-election among his expectations for 2020. Also on the show, two other interviews about expectations, with David Goodsell of Natixis Investment Managers discussing his firm's recent survey of institutional investors about their outlook for the year ahead, plus Greg McBride, chief financial analyst at Bankrate.com gives his forecast for rate levels in the coming year. All that, plus Patrick Healey of Caliber Financial Partners talking stocks in the Market Call.

Bob Doll chief equity strategist at Nuveen will release his 10 forecasts for the New Year on Tuesday, but first he stops by Money Life to talk with Chuck about his calls from last year and how they turned out in 2019. Meanwhile, Paul Golden of the National Endowment for Financial Education discusses the New Year's resolutions that investors made fort 2020, and Chuck answers an audience question, kind of, in telling us precisely why he won't make a definitive forecast for the stock market in the year ahead. Plus, we revisit a recent conversation with Jim O'Shaughnessy of O'Shaughnessy Asset Management.

Will in Philadelphia writes Chuck asking for help setting real, meaningful retirement-savings targets as he tries to make sure his New Year's goals and resolutions will make real progress toward a secure future, and Chuck describes four ways to measure retirement preparedness. Also on the show, John Cole Scott of Closed-End Fund Advisors discusses three decades of research on the industry and what it tells him to expect for the future, and we revisit a recent, extended chat with Rob Arnott of Research Affiliates.

Scott Wren, senior global market strategist at the Wells Fargo Investment Institute, said that the Standard and Poor's 500 closed 2019 so strongly that it nearly eclipsed his firm's forecast for where it would be in 2020, squarely in the middle of the 3,200 to 3,300 forecast range. Wren warned that the investment consensus is more optimistic than he and Wells Fargo are, but is expectation is for a relatively flat year with some heightened volatility as the market sorts out pressures from interest rates, politics and more. Also ont he show, Tom Lydon of ETFTrends.com makes a big, classic index fund his 'ETF of the Week," Chuck throws dirt on some funds that died in 2019, and we revisit a recent chat with David Kotok of Cumberland Advisors.

Brad Lamensdorf, editor of the Lamensdorf Market Timing Report and manager of the Ranger Equity Bear ETF, said that market sentiment is completely reversed from a year ago and has risen to dangerous levels where investors are likely to be disappointed in the new year. He expects at least 'extreme volatility' for 2020, likely paired with a 'cleansing pullback' that he said was necessary before the market could move up from its current record levels. Also on the show, Brian Graff of the American Retirement Association discusses the SECURE ACT that goes into law on New Year's Day, the gang from HighTower Advisors revisits questions to ask planners and counselors at the start of the year, and Chuck talks about goal setting for the new year and the next decade.