Money Life with Chuck Jaffe

Mark Yusko, chief investment officer at Morgan Creek Asset Management, said in the Market Call that while he is nto expecting a bear market in short order, he does see trouble ahead for the domestic markets, noting that his metrics show large-cap stocks as being 84 percent overvalued. With that in mind, he expects 'bad things to happen' domestically, even as he finds some global valuations appealing. Also ont eh show, Jason Reposa of MyBankTracker.com discusses America's problem with car-loan delinquiencies, Trevor Neilson of i(x) Investments talks about a new type of social and impact investing, and David Trainer covers companies with misleading returns on invested capital in the Danger Zone.

Vincent Reinhart, chief economist and macro strategist at Mellon said in the Big Interview that between tariff problems and economic issues in Europe, investors must wait for the second half of the year for solid growth. That said, economic growth will be sufficient to avoid recession but not enough to satisfy investors who want to see more global expansion. Also, Adam Grimes of Talon Advisors suggested that investors should be long in stocks, while expecting a bear market to arrive in six to nine months, and David Brady of Brady Investment Counsel discussed large-cap growth investments in the Market Call.

Joe Brusuelas, chief economist at RSM, said that his rcession-probability model is showing a 20 percent chance of an economic downturn this year, but that investors should expect a recession in 2020 or '21, noting that while it should be a 'garden-variety recession,' the situation with the Fed could make any meltdown much worse. Also, economist Edward Goldberg of NYU said that American and China are coming to a truce -- and not a win or a loss -- in the trade wars, Tom Lydon looked at an emerging-markets ETF as his 'ETF of the Week,' and Chuck answered an question from an audience member.

After a superior 2017 and a dismal 2018, the outlook for emerging markets stocks and bonds is changing again and Richard Lewis from the Nulman Group did not like the looks of those markets while his HighTower Advisors colleague Jeremiah Reithmiller of Sarian Strategic Partners was much more optimistic about the prospects for companies based in developing nations. Also on the show, author Larry Swedroe discusses his new book on a successful retirement, Coryanne Hicks of U.S. News and World Report discusses the latest battle in the ETF pricking wars, and Stephen Dodson of the Bretton Fund talks stocks in the Market Call.

Michael Kagan, portfolio manager at ClearBridge Investments, said that the United States economy -- unlike some around the world -- is looking strong right now; compared to relevant periods in history, he said Americans are likely to avoid a recession for several years. That said, he noted in the Market Call interview that he would be selling any stock that is not producing profits in these market conditions. Also on the show, Charles Rotblut of AAII Journal made a banking company his 'Stock of the Week,' Ted Rossman of CreditCards.com discussed his site's latest survey and author Tanja Hester discussed her new book on retiring very early -- potentially decades ahead of retirement age -- and not running out of money.

David Dowden, portfolio manager at MacKay Municipal Managers, said he expects the Federal Reserve to do one more rate hike -- during the first half of the year, or earlier than many other observers expect -- but he said that the bond market holds a lot of challenges for investors, like an abundance of muni-bond options that are creating a buying opportunity while alos potentially creating value traps. Also on the show, Kelly Anne Smith of BankRate.com discussed how much money people expect to spend for Valentine's Day, Marc Schneider of Zebit.com discussed how his unique shopping site -- which charges no interest and no late fees on payments -- actually works, and David Trainer of New Constructs put a mutual fund in the 'Danger Zone.'

In his first appearance on the show in more than two years, Brian Yacktman of YCG Enhanced Fund discussed how enduring pricing power and industry leadership and innovation makes for stocks that investors that can deliver superior long-term results in all market conditions, and he singled out a few stocks that make the grade in the Market Call. Also on teh show, we rebroadcast a recent interview with Ben Hunt of Epsilon Theory, Dick Burns of the NHP Foundation discusses seniors' financial fears and Chuck takes a long lottery-filled journey through the weird financial news

Warren Pierson, senior portfolio manager at the Baird Funds, said the markets currently are re-calibrating after the December fall and the January rebound, getting used to more reasonable levels of growth in both earnings and gross domestic product. The result should be market that sustains a slow-but-steady positive course for 2019. Also on the show, Tom Lydon of ETFTrends.com makes an emerging-markets bond fund his 'ETF of the Week,' Chuck discusses how investors need both an iron will and iron stomach to ride out current market times, and Bernie Horn of the Polaris Global Value Fund has the Market Call.

David Marcus of Evermore Global Advisors said investors need to be pruning and enhancing their portfolio during times like these -- when markets are shifting and corporate fortunes are changing quickly -- to maintain a portfolio of investments they love, rather than settling just for things they like. Owning investments you love lets you stick with them through tough times in the market. Also on the show, Terry Jones of Investor's Business Daily discusses investors' flagging level of optimism, we rebroadcast a recent Collective Wisdom segment focused on market volatility and Chuck discusses what investors should remember about the reign of bond king Bill Gross, who just announced his impending retirement

Brent Schutte, chief investment strategist at Northwestern Mutual Wealth management Co., said that while the market has plenty of reasons to get nervous, it also has plenty of impetus to move up throughout the year, largely due to strong underlying fundamentals. He also said that he expects emerging markets and large-cap domestic securities to outperform in the year ahead. Also on the show, Charles Rotblut of AAII Journal is in a selling mood with his 'Stock of the Week,' Ted Rossman of CreditCards.com discusses a recent survey covering how many credit-card customers expect to die with their debt still in place, and Ben Johnson, director of global ETF research at Morningstar Inc

David Trainer of New Constructs put three stocks -- Landec Corp., Brooks Automation, and Host Hotels and Resorts -- in the Danger Zone noting that all three had misleading price-earnings ratios that could lead investors to think the stocks were rising in value when in fact he feels their true worth is collapsing. Also on the show, Greg McBride of Bankrate.com discusses American's financial security, we rebroadcast a recent chat on the market with Patrick O'Hare of Briefing.com, and Eric Marshall of the Hodges Funds has the Market Call.

Tendayi Kapfidze, chief economist at LendingTree, said in the Big Interview that he thinks the Fed may have overreacted to increased market volatility by signalling that it may put off further rate hikes. Now the market is reacting like they won't happen, which could lead to trouble later in the year when he thinks the central bank will resume its upward trend. Also on the show, comedian Gaby Dunn talks about her new book on being bad with money, Leonard Wright of the AICPA discusses Americans' level of personal financial satisfaction, and Chuck takes an audience question about target-date and life-cycle funds.

Tom Lydon of ETFTrends.com made the VanEck Vectors Semicnductor ETF his 'ETF of the Week,' noting that the industry has been on the rise and -- despite recently volatility caused by high-profile earnings misses this week -- remains a worthwhile play for as long as it stays above its long-term average. Also on the show, Dan Keady, chief financial planner at TIAA, discusses volatility, Mark Hamrick of Bankrate.com covers a survey on how Americans don't expect their finances to improve this year, and Brock Moseley of Miracle Mile Advisors talks ETFs in the Market Call.

Alan Levenson, chief U.S. economist at T. Rowe Price & Associates, said in the Big Interview that while investors should not expect the big returns they have seen through much of the bull-market run, they also should not expect a recession. He noted that the poor end to 2018 was a downturn that occurred despite continued economic growth and said he does not expect market declines to be the dominant story for the year ahead. Also on the show, Greg McBride gives his take on the Fed meeting, Lauren Pearson and Jim Ewing of HighTower Advisors discuss better planning through technology, Mike Brown of LendEDU discusses complaints consumers have over cryptocurrencies and Garvin Jabusch of Green Alpha Advisors has the Market Call.

Charles Rotblut of AAII Journal made O'Reilly Automotive his 'Stock of the Week,' noting that the auo-parts supplier has outperformed 88 percent of all stocks over the last six months and saying that the momentum could easily propel the stock 20 percent higher in short order. Also on the show, author Conor Richardson of 'Millennial Money Makeover,' Ken Shreve of Investor's Business Daily looking at the market's technicals, and Patrick Healey of Caliber Financial Partners with the Market Call.

David Trainer of New Constructs hasn't liked Netflix (NFL) for a long time, but he put the stock back in the Danger Zone on Monday's show and said in the process that the shares -- currently trading for roughly $340 each -- could be worth as little as six dollars. Also on the show, ted Rossman of CreditCards.com discusses financial infidelity, author James Pattersenn talks about how he learned to trade like a stock market pro, and market pro Rich Moroney of Dow Theory Forecasts talked buys and sells ni the Market Call.

Jeremy Bryan, portfolio manager at Gradient Investments said in the Market Call that he's optimistic on both domestic and international stocks right now, noting that the economy continues to push forward, even if the pace has slowed. He's looking at consumer discretionary stocks and data-center REITs as sweet spots now. Also on the show, Brad McMillan of Commonwealth Financial Network discusses 'crash-test investing,' Chuck takes a question from an audience member whose family is affected financially by the government shutdown, and Jill Gonzalez of WalletHub discusses how close most Americans feel they are to maxing out their credit cards.

Rolf Agather, managing director of research for North America at FTSE Russell, said that small-cap stocks can give a portfolio a surprising dividend boost and pointed out how it was small-cap dividends that really helped preserve decent results for small-caps in 2018. Also on the show, tom Lydon of ETFTrends.com makes a 'fallen angel' fund his 'ETF of the Week,' author Tony Steuer discusses financial readiness, and we rebroadcast a recent interview with emerging markets expert Andrew Foster of the Seafarer Funds

Lauren Pearson and Jim Ewing of HighTower Advisors discussed recent volatility and where it has created opportunity for investors, and both agreed that one spot for investors to consider now is cash, both because of rising rates but also to keep powder dry. international and emerging markets were among the other options discussed in the Collective Wisdom segment; also on the show, Ben Hunt of EpsilonTheory.com gives an interesting take on whether bad news is really good for the market, Hilary Kramer of High Octane Trader and Game Changer Stocks has the Market Call and more

Alan Gayle of Via Nova Investment Management said that he does not see any problem with the market reaching and eclipsing previous highs. with the Standard and Poor's 500 getting back to 2,900 sometime this year. Meanwhile, D.r. Barton Jr. of 10minutemillionaire.com said the market's current snap-back rally has the market moving sharply upward, 'but in a healthy fashion.' Also on the show,m Charles Rotbut of AAII Journal has his Stock of the Week and Tim Melvin of the Heatseeker newsletter talks stocks in the Market Call.

Chuck had a long history of writing about and talking with Jack Bogle. In fact, when Bogle entered the hospital in December, he had planned to talk with Chuck in mid-January when he came out and got back to work. Instead, the founder of the Vanguard Group and the man behind index investing took a turn for the worst and died at age 89 on Jan. 16. In this special Martin Luther King Day tribute to Bogle, Chuck talks about his time spent with Bogle, reminisces with Matt Fink -- the longtime leader of the mutual fund industry's primary trade association -- and rebroadcasts Jack Bogle's last appearances on the show, from Jan. 8-9, 2018.

Patrick O'Hare, chief market strategist at Briefing.com, said that investors have a ice opportunity to put some money to work based on how everyone was getting panicky over recession talk at the end of last year. He believes the market was overly negative, which has created opportunity, though he thinks gains will be muted and market action will be choppy. Also on the show, Matt Schulz of CompareCards.com discusses why most people would rather lose debt than lose weight this year, Chuck answers an audience question, and Mike Bailey of FBB Capital Partners talks stocks in the Market Call

Jack Bogle, founder of the Vanguard Group and the patron saint for small investors died at age 89 on Wednesday, and Chuck took time from the show to remember Bogle. Also on the show, Tom Lydon of ETFTrends.com talked emerging markets with the 'Etf of the Week,' Terry Jones of Investor's Business Daily discussed investor optimism, and Samuel Lee of SVRN Asset Management talked about ETFs in the Market Call.

David Payne, staff economist at Kiplinger.com, said that the economic underpinnings remain solid and strong, but aren't 'amazing,' which should lead to a year of heightened volatility and muted market returns. He noted that the market now seems to expect the Federal Reserve to be done with rate hikes at least until very late int he year. Also on the show, Bill Thrush, Richard Lewis and Ray Baraldi of HighTower Advisors discuss how they help consumers set appropriate expectations, Jason Reposa of MyBankTracker.com talks about what people affected by the government shutdown can do to get some assistance and relief frmo creditors, and Scott Klimo of Saturna Capital and the Amana Funds has the Market Call.

Technical analyst Michael Sincere said current market conditions have confused traders and made investors nervous and have made this one of the toughest markets he has ever seen. He's mostly defensive right now, watching the Standard and Poor's 500 and its behavior around the 2,600 level. Also ont he show, Charles Rotblut of AAII Journal reviews some of the sells he made in his 'Stock of the Week' feature during 2018, Everett Millman of Gainesville Coins talks gold, and Scott Ganschow, featured investor at NetVest, has the Market Call.

Andrew Foster, portfolio manager at the Seafarer Growth and Income Fund, said he expects 2019 to be better for emerging markets than last year was, but warned that it won't be a great year, just better than the recent past. More importantly, with emerging markets coming back, he expects them to deliver the diversification benefits that they mostly have fallen short of in recent years. Also on the show, Gerg McBride of BankRate.com discusses they pay raises workers are expecting -- or not -- for the year ahead, David Trainer of New Constructs reviews his top Danger Zone picks from 2018, and Tom Plumb of the Plumb Funds has the Market Call.