Money Life with Chuck Jaffe

Frank Holmes, chief investment officer at U.S. Global Investors, says investors have plenty of reason to be optimistic right now, noting that the domestic and international economies are showing signs of strong demand, which should keep global markets rolling for the foreseeable future. There's more bullish praise for the market and its technical signals from Dan Zanger of ChartPattern.com, who is as fully invested as he has been in many months, despite his daily worries over how Tweets and news blurbs can ruin his short-term trades. Greg McBride of Bankrate.com chats about how ill-prepared many Americans are for retirement, but how it appears that they are falling further behind rather than playing long-term, slow-speed catch-up, and Charlie Bobrinskoy, vice chairman of Ariel Investments, talks stocks and value investing in the Market Call.

Alan Gayle, president of Via nova Investment Management, said he expects the storm clouds of trade wars and interest rate pictures to clear as the calendar hits 2020. Coupled with improvement seen in the markets of Europe, China and emerging markets, he is optimistic about results for 2020, especially for international investments. Gayle's comments were a bit more hopeful -- especially about returns and global investing -- than those of David Jilek, chief investment strategist of Gateway Investment Advisors, who expects muted returns and heightened volatility from stocks and bonds through 2020. Also on the show, Francesca Ortegren of Clever Real Estate discusses the high costs of commuting, especially in certain cities, and David trainer of New Constructs puts Zynga in the Danger Zone.

Karl Mills, president of Jurika, Mills and Kiefer, said that investors have to look beyond headlines, current events and present-day nervousness to stay focused on long-term goals, and should be considering long-term trends, needs and risk tolerance rather than today's news and the weekly market action when putting together an asset allocation. Also on the show, Nicholas Marshi, editor of the BDC Reporter, discusses the state of business-development companies through the third-quarter earnings period, Chuck answers a question about store and retail credit cards, and John Buckingham of the Prudent Speculator newsletter brings his dedicated value investing style back to the Market Call after a long absence.

Jeff Davis, chief investment officer at LMCG Investments, says that while investors have been frustrated by a decade of international investments lagging far behind the United States, he thinks giving up on international investing is a mistake, particularly now that investors are paying a premium on domestic stocks and can get relative bargains around the world. Also on the show, Tom Lydon of ETFTrends.com has the ETF of the Week, Chuck answers a question about investing in artificial-intelligence stocks, and David Brady of Brady Investment Counsel talks about growth stocks in the Market Call.

Bill Stone, chief investment officer, Avalon Investment and Advisory, said he believes investors have seen the worst of global economic numbers and that with better data ahead, plus strong investor sentiment and record amounts of cash on the sideline ready to be invested, there is a strong chance for another market rally in 2020. That said, he believes that the long lagging cycle for value stocks could be ending, and he suggested investors might want to rebalance their value and growth portfolios to take advantage of the change. Also on the show, Ted Rossman of CreditCards.com returns to talk about the states where people have the best and worst money habits, Jake Falcon of HighTower Advisors discusses how investors need to keep what they hear from the media in perspective, and author and money manager Mark Grimaldi discusses how to have a tax-free retirement.

Patrick O'Hare, chief market strategist at Briefing.com, said that low rates have steered a market through a time of no-earnings growth and have the market poised to keep pushing forward despite headline risks over trade concerns, impeachment, the upcoming election and more. O'Hare said he expects 2020 to not be quite as good as 2019 -- in part because some good news has been pulled forward and priced in already -- but he expects a positive outcome through the election and for the election year. Also on the show, we revisit a recent interview with Jim Welsh of smart Portfolios, Chuck talks rewards-card offers with Ted Rossman of CreditCards.com, and Charles Norton of the Vitium Global Fund (VICEX) makes his debut talking sin stocks in the Market Call.

Chuck is back from his weekend in Seattle with a bad head cold and some anger issues, especially after tuning into a program called 'Trading and Investing with Ryan and Larry,' and he shares some of the reasons why real investors should be able to ignore the ridiculous logic behind the sales pitch to become a trader. Also on the show, longtime business journalist Rob Wells discusses his new book on how some little-known trade reporters exposed the 'Keating Five' in one of the nation's largest business scandals, plus we rebroadcast a recent chat with Rob Howe of Stock Spin-Off Investing.

Rob Berger, author of 'Retire Before Mom and Dad' says that while investors want to make things complicated, maintaining a simple, straightforward portfolio, relying on the power of compounding and setting aside more money than average are the real keys to long-term financial success, noting that investors need to demystify the savings process and simply recognize the long-term value of money they spend wastefully today that could truly change their lives if they considered its potential value in the future. Also on the show, John Cole Scott of the Active Investment Company Alliance tackles audience questions in The NAVigator, Francesca Ortegren of Clever Real Estate talks about her analysis of financial literacy data, and Kathy Boyle of Chapin Hill Advisors covers mutual funds and ETFs in the Market Call.

Jim Welsh of Smart Portfolios said that with market sentiment on the rise and most observers thinking things are good, it's time to be guarded. Welsh said that the market's technicals look to him like a small rally to reach a market top before a 5 to 7 percent pullback that he does not think will scare investors. After that, he expects the market to recapture its highs, top out and then a correction early in 2020 that could shave as much as 750 points off the Standard and Poor's 500. Also on the show, Tom Lydon of ETFTrends.com has the ETF of the Week, Oliver Pursche, chief investment strategist at Bruderman Brothers Asset Management checks in from the EY Strategic Growth Conference, and James Abate of Centre Asset Management talks stocks in the Market Call.

Andy Morse, senior partner at Morse, Towey and White Group in New York, says that while investors often want to leave politics out of their financial picture, it's actually earnings and public policy that drive the markets, and he gives reasons why that will drive the market -- especially as trade concerns are resolved -- even if his expectations remain modest. Also on the show, Chuck answers another audience question, author Lane Martinsen talks about holistic retirement planning, and Jason Browne of Alexis Investment Partners overs funds and ETFs in the Market Call.

Nick Raich of The Earnings Scout returned to the Market Call to discuss his unique brand of stock analysis which focuses on earnings forecasts -- rather than past results -- looking for the best changes in earnings estimates, and he noted that while his models are starting to like developed international markets over the U.S., he still likes defensive sectors like health care, consumer staples, real estate and utilities, while being concerned and nervous about industrials, communications services and energy stocks. Also on the show, Chuck answers a listener's question about tax-loss selling, author Adam Minter discusses his book 'Secondhand: Travels in the New Global Garage Sale,' and Chris Gatz of CreditWise at Capital One discussed consumer stresses over debts and finances.

Jae Yoon, chief investment officer at New York Life Investment Management, said that the issues of the current trade war are not going away and will slow economic activity until they are resolved, yet he noted that they are not killing the current economic cycle, which he thinks can run for 12 to 18 months or more. Yoon said he is beginning to look at reducing allocations ahead of a cycle whose end could coincide with the presidential election, but noted that investors should not be full-on defensive just yet. Also on the show, Matt Schulz of Creditcards.com talks about retail store cards, author Stephen Martin discusses 'Messengers' and how we decide who to listen to and trust in today's society, and Kyle Guske of New Constructs puts a stock with over-blown earnings numbers into the Danger Zone.

Craig Callahan, founder and president at the ICON Funds says that the domestic stock market -- despite being at or near record-high levels -- is actually 16 percent below its fair value, and he expects the market to gain more ground over the next year or so as it works to have stocks reach fair-value levels. Callahan adds that he believes the current bull market has a ways to go, potentially five or more years, and says he would stick with top-performing sectors like consumer-disctretionary stocks, technology and financial companies. Also on the show, legendary activist investor Phillip Goldstein from Bulldog Investors talks about the dark potential future he sees for activists in closed-end funds, Leonard Wright discusses AICPA's recent survey showing that children's allowances are up, but their savings rate on that money is alarmingly low, and Todd Rosenbluth of CFRA Research talks ETFs in the Market Call.

It's part standard show, part roadshow today, as Chuck starts with Tom Lydon of ETFTrends.com with the 'ETF of the Week,' and Brent Schutte of Northwestern Mutual Wealth Management in the Big Interview before airing interviews taped at Wednesday's Active Investment Company Alliance Boot Camp and Conference in New York City, covering a wide range of closed-end investing topics with Bill Meyers of Nuveen, Rob Shaker of Shaker Financial, and Eric Boughton of Matisse Capital.

Axel Merk, president and chief investment officer at the Merk Funds, says the market is telling investors that everything is fine, and that he sees that being true, noting that investors should expect an upside surprise more than trouble over the next few months. Also on the show, Jeff Ptak of Morningstar explains changes announced Tuesday to the firm's mutual fund analyst ratings, Steven Cress of Seeking Alpha brings a quantitative approach to the Market Call and we revisit a recent interview with Jake Falcon and Joseph Klein from Hightower Advisors.

Kirshna Memani, vice chairman of investments at Invesco, says that the market is setting up for a good year in 2020 based on three key factors, namely the recent Fed rate cuts and the central bank's indication that it won't reverse course soon, the likely resolution of international trade issues, and a re-acceleration of global economic growth. If those events happen as expected, Memani -- who believes the economy can go several more years without a recession -- said 2020 has strong potential for both domestic and international markets. Also on the show, Chris Oberbeck of Saratoga Investment Corp. discusses business-development companies, a unique type of closed-end fund investment, Ted Rossman of CreditCards.com chats about the dangers of using retailers' store cards, and author Keisha Blair discusses 'Holistic Wealth' and how people can change their approach to money to reduce stress, improve their finances and be happier.

Brad Evans of the Heartland Value Plus fund says in the Big Interview that Corporate American has levered itself to levels never seen before, which leaves stocks vulnerable to being whipsawed by news events and headlines in ways investors haven't previously experienced. Also on the show, Liz Pagel of TransUnion discusses the how well -- and sometimes how poorly -- debt consolidation really works, Sam McBride of New Constructs puts a big-name stock in the Danger Zone, and Peter Tuz of Chase Investment COunsel talks growth stocks in the Market Call.

David Ellison, manager of the Hennessy Large-Cap and Small-Cap Financial funds, says we are seeing a unique decline in interest rates because cuts historically were supposed to help out financial institutions, making it easier to make loans, unload bad debts and improve margins. With rates at historic lows, however, cuts aren't really providing financial firms with any help, Ellison says, making the entire sector tougher to read. Also on the show, Richard Howe of Stock Spinoff Investing makes his debut in the Market Call, Andy Provencher of BNY Mellon Investment Management discusses how little average Americans know about fixed-income investing, and Chuck reveals the results of his 'Cash-or-Candy' Halloween.

Francesca Ortegren of Clever Real Estate discusses a recent study on the effect of paranormal activity on home prices -- no, we're not kidding -- which found that people are much more concerned about the potential for crime than they are about being haunted by ghosts, with people who believe in the supernatural more likely to pay up to buy a house they've been told is haunted. Also on the show, Tom Lydon of ETFTrends makes a small-cap dividend fund his pick for ETF of the Week, Rick Redding of the Index Industry Association talks about why the number of indexes shrank by roughly 20 percent in the last year, and Jason Herried of Johnson Financial Group talks funds and ETFs in the Market Call.

David Bahnsen of HighTower Advisor's Bahnsen Group chats about the intersection of politics and personal finance, noting that investments are inherently political and that investors can create problems when they choose to invest based more on their political leanings than on a dispassionate view of how current events can and will impact the market. Also on the show, Mark Hamrick of Bankrate.com talks about their survey about whether Americans feel they are better off financially since the last presidential election, Jon Brodsky of Finder US talks about how Americans' savings habits compare with the rest of the world, and Brian Frank of the Frank Value Fund discusses absolute-value investing in the Market Call.

Avi Gilburt, founder of Elliott Wave Trader, said that while the Standard and Poor's 500 hit new record highs on Monday -- closing at roughly 3,040 and finally breaking out of a trading range that has lasted for most of the year -- he believes the market is still in the middle of a larger correction, one that will take it back down to support levels around 2,820 before there is a real rally to start off 2020. Gilburt suggested that instead of being cheered by the new highs, investors should expect 'a lot of whipsaw.' Also on the show, Leonard Wright discusses the American Institute of Certified Public Accountants' most recent Personal Satisfaction Index, author and financial adviser Jeff Poole discusses the transition from work to retirement, and Tim Melvin of the Heatseeker newsletter and MaxWealth.com cov ers stocks in the Market Call.

David Trainer, president of Nw Constructs, says that Line PLC has numbers so misleading tat if the omcpany were to stop growing, shares would be worth about 90 percent less than their current level. Even with growth, Trainer gave reasons why the company could be headed for trouble. Also on teh show, Frank Nothfaft of the National Association for Business Economics, a rebroadcast of a recent chat with Mona Mahajan of Allianz Global Investors, and the Market Call with Martin Leclerc of Barrack Yard Advisors.

Lindsey Piegza, chief economist for Stifel Fixed Income, says near the end of her Big Interview chat with Chuck that she sees sufficient economic slowdown ahead for the economy to enter a recession during the first half of 2020, noting that a recession doesn't have to be deep, hard and arduous but rather that it can represent a slowdown which she believes will be reversed in short order. Also on the show, Piers Currie of Warhorse Partners discusses the evolution of closed-end funds frmo their origins in England, Michael Sincere talks technical analysis and how current conditions have him betting in both directions against this market, and Nick McCullum of Sure Dividend covers his dividend-investment strategy talking stocks in the Market Call.

Chuck covers a lot of ground, literally and figuratively, in today's show, with Tom Lydon of ETFTrends.com making a marijuana offering his ETF of the Week, talking with Carter Malloy of Acre Trader, a platform that lets individual investors do high-yield investing by buying directly into farmland, and talking mutual funds and ETFs in the Market Call with Kevin Miller of the E-Valuator Funds. Plus, Ted Rossman of CreditCards.com returns for the second time this week to talk about a survey, this time on how people plan to pay for their holiday travels.

Shawn Cruz, manager of trading strategy for TD Ameritrade, said that the market is fighting conflicting trends but noted that any sort of meaningful improvements in the trade war with China would likely help stocks break through to new highs, as he believes the market is trying hard to continue climbing. Also on the show, Mike PeQueen of HighTower Advisors said he believes that solid fundamentals will allow the market to climb the proverbial 'wall of worry' without suffering through a recession until at least 2021. Greg McBride of BankRate.com discusses his site's most recent survey of fees and charges levied by banks, and Francisco Bido of Cognios Large Cap Growth fund makes his debut in the Market Call.

Zach Jonson, senior portfolio manager at Stack Financial Management, said that investors and the stock market are being pulled in good and bad directions by an 'economic and emotional tug-of-war caused by the trade war with China, changes in interest-rate policies, the news cycle and more. He pointed out that the market has positive signs -- like market breadth at near highs -- and negative signals, like the struggles in transportation and small-cap stocks. He is remaining defensive, but looking for opportunities. Also on the show, Ted Rossman of Bankrate.com discusses the number of Americans who earn, but then lose, credit-card rewards, we rebroadcast a recent chat with Tom Stringfellow of Frost Investment Advisors, and Eric Ross of Cascend Securities makes his debut talking stocks in the Market Call.

Jeffrey Hirsch, editor of the Stock Trader's Almanac, noted that the market's technicals are strong enough that the Almanac issued a buying signal on Oct. 11, expecting 2019 to have the traditional strong end to the year rather than repeating the significant decline investors lived through a year ago. Hirsch also talked about the impact elections have on the market and more. Also on the show, Geoffrey Brown of the National Association of Personal Financial Advisors discusses how many people wish they could have a financial do-over, Kyle Guske of New Constructs puts the worst fund in the worst-performing investment category in the Danger Zone, and Rich Moroney of the Dow Theory Forecast and Upside newsletters talks stocks in the Market Call.

Mona Mahajan, US investment strategist for Allianz Global Investors, says that while there are legitimate concerns about slowing global economic growth and headline risks from trade wars to impeachment and more, the underlying numbers show signs of re-emergent growth, the kind of 'green shoots' that could carry the long-running bull market to new heights next year if they're fostered and allowed to grow. Also on the show, Ken Berman of Gorilla Trades is equally bullish -- if not more so -- in discussing the stock market's technical side of things, Joshua Deringer of Drinker, Biddle and Reath explains the inner workings of 'interval funds' -- a type of closed-end fund that is growing in popularity -- in The NAVigator, and Darren Kottle of Catalyst Multi-Strategy Fund talks stocks and tactical investing in the Market Call.

College professor Emily Gallagher discusses her recent research looking at the amount of emergency savings that appears sufficient to allow individuals to overcome standard emergencies and avoid falling into significant financial distress, disclosing just how much to keep on hand. Also, Chuck talks with Tom Lydon of ETFTrends.com about a housing fund, covers the best mortgage lenders with Gina Pogol of HSH.com, and talks stocks in the Market Call with Leon Wilfan of Lahardan Financial.

Matt Harris, head of investment strategy at HighTower Wealth Management, says that while people are nervous about economic, market and political headlines, that's not showing up in how they act as measured by technical analysis. Harris says that indicators like breadth, the spread of companies rising and falling and more are not typical of a market top or indicating a price drop over the next few months. Also on the show, Chuck talks with author Devon Powers about the business of forecasting the future, discusses Halloween spending with Matt Schulz of CompareCards.com, and revisits his recent chat with Nobel Prize-winning economist Robert Shiller.

Lawrence McMillan, head of McMillan Analysis, said that the current range-bound market has indicators that can work for short-term trades, but nothing that really allows him to look out more than a few weeks. He is looking for the market to break through resistance at 2,993 on the Standard and Poor's 500 and hold beyond that level, but noted that if a rally falls short, the market could see a double- or triple-top, which is a sign of trouble ahead. Also on the show, Sylvia Jablonski of Direxion Investments says there is still growth left in the market and she highlights good ideas for trading in a sideways market, Mike Brown of Lendedu highlights the huge amount newlyweds paid to hold their wedding, and we revisit a recent Market Call with Ed Shill of QCI Asset Management.

Aaron Glantz, author of the new book 'Homewreckers: How a Gang of Wall Street Kingpins, Hedge Fund Magnates, Crooked Banks, and Vulture Capitalists Suckered Millions Out of Their Homes and Demolished the American Dream," discusses how a story looking at the financial crisis of 2008 led to massive profits for several leading players,including members of the current administration in Washington. Also, Catherine Collinson of the Transamerica Center for Retirement Studies talks about why employers don't believe their workers are ready for retirement, David Trainer of New Constructs talks about the danger of believing ordinary earnings reports and Bill Matson of Oyster River Financial covers data-driven investing in the Market Call.

John Blank, chief equity strategist and chief economist at Zacks Investment Research, gives a compelling look at what he believes are key numbers to draw the conclusion that investors won't have to worry about a recession in the United States for at least a year and more likely into 2021 and beyond. With little to no growth around the world right now, Blank suggests that investors -- especially those with shorter time horizons -- focus more on domestic stocks because despite a slowing economy the best growth opportunities remain here. Also ont he show, Patrick Shaddow of S-Network Global Indexes talks about ETFs made up entirely of closed-end funds, Toni Turner of Trendstar Trading Group discusses the market's potential to reach a triple top, which is a technical indicator of trouble ahead, and Manny Weintraub of Integre Asset Management covers growth-at-a-reasonable price stocks in the Market Call.

Bernie Horn, portfolio manager at Polaris Global Value, says that while the U.S. stocks have sharply outperformed international stocks since the financial crisis of 2008, the situation has now gotten to where foreign valuations are increasingly attractive, and he noted that if you can find the right valuations in businesses that are able to grow cash-flow over time, the stock should ultimately pay off no matter where in the world it is based. Also on the show, Tom Lydon of ETFTrends.com makes an actively managed municipal bond fund his ETF of the Week, Pat Rowan of TIAA discusses Americans' confidence in retirement, and Craig Curlop of biggerpockets.com talks about his new book on 'house-hacking,' a strategy where you buy multi-unit properties, live in one unit and rent the others, uing the rent to pay your mortgage and effectively letting you live without having to make a monthly housing payment of your own.

Chuck talks about the twist he is putting in place for his annual 'trade or treat' Halloween tradition that lets children choose between money and candy while learning about risk, return, rewards and more every year. He's hoping you will come up with your own twist on cash or candy this year. Also, Ray Baraldi and Richard Flahive of HighTower Advisors discuss real assets' role in a portfolio during volatile times, Terry Jones of Investor's Business Daily covers the latest IBD Investor Optimism Index and Trip Miller of Gullane Capital Partners covers value investing in the Market Call.

Nobel Prize winning economist Robert Shiller joins Chuck to discuss his new book on 'narrative economics' and notes that the current narratives generating viral stories and affecting the economy are the stories about trade and tariff wars and the future of free trade with China. Also on the show, Eleanor Laise of Kiplinger's Personal Finance discusses the importance of shopping around during the open enrollment period to see if you should change Medicare Plans, and Leah Bennett of Westwood Wealth Management talks quality socks in the #MoneyLifeMarketCall.

Tom Stringfellow, chief investment officer at Frost Investment Advisors, says that the current mix of good and bad news -- a 50-year-low in unemployment,impeachment headlines, interest rates and much more -- has confused investors and is pushing them some of them to seek shelter, making a mistake of not being fully invested at a time when the market continues going up despite all of the conflicting data and information. Also on the show, Greg Daco of Oxford Economics and the National Association for Business Economics, talks about the economist survey released today which shows that leading financial minds feel that recession isn't likely until late 2020 or beyond, David Trainer of New Constructs puts a pot stock in the Danger Zone, and Ben Johnson, director of ETF research, covers exchange-traded funds in the market Call.

Adam Grimes, president of Talon Advisors, said that while news headlines and market volatility might give investors pause for the near term, long-range investors should not be concerned about the market's technicals, and should view downturns cautiously as buying opportunities. He noted that when the market is range-bound -- as it has been -- but generally staying near the top level of the range, that typically bodes well going forward. Also on teh show, Kimberly Flynn of XA Investments talks about alternative investments available in closed-end funds in The NAVigator, Pat keon of Lipper at Refinitiv discusses why investors flooded junk-bond funds with money in recent weeks, and Brian Gahsman of the AlphaCentric Robotics and Automation fund has the Market Call.

Richard Sapertein, chief investment officer, Treasury Partners, gives a surprising take on how bond investors -- facing negative interest rates on international treasury securities and falling interest rates at home -- should actually extend maturities on the fixed-income instruments they are using, even though that could put them on the short end of the inverted yield curve. Also on the show, Tom Lydon of ETFTrends.com says value is coming back into vogue with his pick for the 'ETF of the Week,' Rich Polimeni of the College Savings Foundation discusses about how parents may know the value of saving for college but still are over-reliant on debt, and Oliver Pursche, chief market strategist at Bruderman Asset Management talks growth at a reasonable price in the Market Call.

George Schultze of Schultze Asset Management says in the Market Call that investors should not be afraid of bankruptcy and other troubling corporate situations because they are running away from opportunities rather than seizing on them. Also on the show, Chris Mamula, a leader in the "Financial Independence" realm talks about the new book he helped to write, 'Choose FI: Your Blueprint to Financial Success," plus Michael Sheldon and Peter Lang of HighTower Advisors discuss the benefits of mixing active and passive management in a portfolio.

Everett Millman, precious metals specialist at Gainesville Coins, says that he expects gold to be range-bound and move sideways for as long as the big macro issues like he trade war with China and interest rates domestically go unresolved, but he expects gold to mostly hold to current, recently inflated values because there isn't much on the horizon to drive prices down. Also on the show, Gina Pogol of AmOne.com discusses a survey on big personal-finance mistakes, Sa El of SimplyInsurance.com joins Chuck to answer an audience question, and we rebroadcast a recent interview talking global markets with Giorgio Caputo of J.O. Hambro Capital Management.

Mark Hamrick of Bankrate.com chats with Chuck about his firm's latest research, which showed that despite a decade of economic expansion, nearly 40 percent of Americans still list catching up on bills as their biggest financial priority, followed by saving more and paying down debt. Also on the show, Sally Outlaw of Worthy Financial discusses how her firm's crowd-funding of small-business bonds has created a higher-yielding alternative to money-market accounts, Kyle Guske of New Constructs puts a high-cost technology fund in the Danger Zone and Ed Shill of the five-star QCI Balanced fund talked stocks and valuations in the Market Call.

Money Life adds a new regular feature today with the debut of The NAVigator, a segment that will cover the ins and outs of avtice investing in closed-end funds, today featuring John Cole Scott of the Active Investment Company Alliance and Closed-End Fund Advisors. Also, Bill Kornitzer of the Buffalo International Fund says the world is on hold waiting for US-China dispute to end, but he expects the countries to reach temporary agreements as this is a skirmish in a battle for global economic dominance. Veteran personal finance journalist John Waggoner talks the potential impact impeachment proceedings will have on the stock market, and Brian Bollinger of Simply Safe Dividends makes his debut in the Market Call.

Katherine Renfrew of the TIAA-CREF Emerging Markets Debt fund discusses how the bond market in China and around the world is reacting to headlines about trade wars and interest-rate hikes, while Yung-Yu Ma of BMO Wealth Management talks about how today's low-rate, high-volatility market should have investors considering yield-driven alternatives like structured notes and preferred stocks for a small part of their portfolio. Also,Tom Lydon of ETFTrends.com has his 'ETF of the Week' and Michelle Kryger of AIG chats about her firm's newly released survey on how seniors are scammed and exploited by family members and strangers and how you can help aging parent avoid those troubles.

Kristina Hooper, chief global market strategist at Invesco, said that while the domestic market is overpriced relative to historical prices, while international markets are underpriced, a condition which suggests that investors might want to seek more opportunities even as they ride the current long bull market out. Hooper noted that cuts to interest rates will likely determine just how long the market can avoid a real downturn, but she noted that most of the signs remain positive heading into the presidential election year. Also on the show, Rupal Bhansali of Ariel Investments talks about 'non-consensus investing,' the subject of her new book, Jake Falcon and Joe Klein of HighTower Advisors discuss the sector rotation they see coming in the fourth quarter of 2019, and Chuck answers a listener's question about rewards credit cards.

Joe Quinlan of Merrill Lynch and Bank of America Private expects a truce, rather than any 'grand deal' on China, but despite those concerns he believes the market is headed higher so he suggests that investors view downturns as buying opportunities -- 'especially in large-cap, dividend-paying stocks' -- for the foreseeable future. Also on the show, Gene Peroni of Peroni Portfolio Advisors expects the Dow Jones Industrial Average to hit 33,000 before the current market cycle ends, which he says could be 18 to 24 months away. Anne Marie Levin of Key Private Bank discusses her firm's recent study of philanthropy disagreements in wealth families, and we revisit a recent chat with Eddy Vataru of the Osterweis funds.

Omar Aguilar of Charles Schwab Investment Management joins Chuck to talk about BeFi 2019, a new behavioral-finance study which shows that focusing on recent events, being too adverse to losses and more can wreck solid financial plans. Also, Scott Lynn of Masterworks discusses investing in fine art in ways not possible until recently, Sam McBride of New Constructs puts another popular IPO in the Danger Zone, and Chuck revisits a recent interview with Noland Langford of Left Brain Capital Management.

Neil Hennessy, founder of the Hennessy Funds says the Dow Jones Industrial Average is going to 30,000 'before we have any worries,' making the case that the market is well-positioned to continue its long run of growth with only minimal disruptions. Jurrien Timmer, head of global macro at Fidelity, meanwhile, is focused on those disruptions and the yellow warning signs in the form of the inverted yield curve, money supply growth, the Federal Reserve and trade wars, but he made it clear that 'This is a market I don't want to bet against,' noting that Dow 30,000 could be a 2020 story. Also on the show, Chuck takes a question about investing in Estonia, and Doug Roberts of Channel Capital Research discusses the fallout and next moves from this week's Fed moves.

Josef Schuster, founder of IPOX Schuster -- which tracks the market for initial-public offerings -- said that the IPO market in 2019 has held up, with start-up numbers generally being similar to a year ago and then pushed beyond those levels thanks to the debut of Uber. Also on the show, Tom Lydon of ETFTrends.com discusses palladium with his ETF of the Week, John Sweeney of Figure Technologies chats about how much money Americans are overpaying -- more than $100 billion -- by not playing interest rates properly, and value manager Michael Campagna or Moerus Capital talks stocks around the world in the Market Call.

Allan Sloan, award-winning business columnist for the Washington Post, said that while interest-rate cuts are being talked about as good for the market and the economy, there are long-term negative impacts to protracted periods of low rates, affecting pension plans, Also on the show, Giorgio Caputo of J.O. Hambro Capital Management says that the Federal Reserve is 'helicopter parenting' the market, and it can't protect the public from all evils, Jake Falcon and Joseph Klein from HighTower Advisors discuss the things beyond trade wars that top their current list of concerns, and Dan Mahr of Federated Investors talks quantitative stock investing in the Market Call.