Money Life With Chuck Jaffe Daily Podcast

Brett Ewing, chief market strategist at First Franklin Financial Services, says that the rally he expected for small-cap stocks when he last appeared on the show in January, finally arrived in the third quarter and the stock market is now rotating towards smaller companies, industrials and real estate investment trusts. Ewing says that he expects the stock market to have a "decent correction" near the end of the year, if only because the market has seldom been up this much after three quarters and most years with a similar gain have seen a downturn in the fourth quarter; while he thinks the market will quickly backstop a decline, he noted that investors may also want to lean into fixed income because bonds, historically, have outperformed equities in the first 12 months after the federal reserve starts a rate-cutting cycle. Nadia Vanderhall, Financial Planner and CEO at Brands + Bands Strategy Group, discusses her recent blog post on how consumers can use gift cards as a budgeting and money-management tool —

Nicholas Brooks, head of economic and investment research at ICG, a global alternative asset manager, says "There's nothing out there that rings major alarm bells" signalling a big recession ahead. But while he expects a soft landing, he is watching what is driving inflation, noting that while headline inflation is down, services inflation remains high and wage growth has stayed strong, factors that are good from a household income point of view but that are concerning in terms of whether inflation might come back and hurt the Federal Reserve's ability to cut rates. Josh Brown, chief executive officer at Ritholtz Wealth Management, discusses his new book, "You Weren’t Supposed to See That," which digs into the genius and the foolishness of what the public gets from financial experts, advisers and the media. Plus, Ken Berman, strategist at Gorilla Trades, talks technicals and says the signs are all pointing to the idea that the current bull market has legs to run through the election and into 2025.

Nick Elfner, co-head of research at Breckinridge Capital Advisors, says that investment-grade corporate bonds are well positioned to be the strong fixed-income play now that the Federal Reserve has started cutting interest rates. Financial counselor Kristine Stevenson, author of "How to Avoid Trouble With the IRS," chats about how so many tax and financial issues are caused by a lack of the most-basic and simple planning, and notes that taking a few simple steps and applying common sense will keep most people away from the worst of financial issues. David Trainer, founder and president at New Constructs puts Targa Resources back in The Danger Zone, noting that the stock — which showed strong gains since it was labeled the company most likely to miss second-quarter earnings — is now the stock most likely to miss third-quarter earnings, and David Rosenstrock, director of investments and financial planning at Wharton Wealth Planning, makes his debut in the Market Call talking funds and ETFs.

Christine Benz, director of personal finance and retirement planning for Morningstar Inc., returns to the show — earlier this week she discussed her book "How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement" — to talk about how inflation, rate cuts and other current events are impacting retirement planning and asset allocation decisions. She notes that after two great years for the stock market, investors often struggle to make portfolios more appropriately conservative for their age. John Cole Scott, president of Closed-End Fund Advisors and chairman of the Active Investment Company Alliance, discusses four funds to consider for what he sees ahead in the fourth quarter, and Kevin Simpson, co-founder/chief investment officer at Capital Wealth Planning, makes his debut in the Market Call, talking about great business models generation big free cash flow, and then protecting the portfolio using covered calls.

Phillip Wool, head of research at Rayliant Global Advisors, makes a strong case for investing in emerging markets — as well as for sticking with investments in China despite geopolitical risk there — noting that valuations are particularly compelling compared to a domestic stock market that is flirting with record highs. While Wool does not expect the U.S. economy to go through a hard landing, he notes that the domestic market is "pricing in a lot of good news right now," and in times when the Federal Reserve is easing into a soft landing, it typically leads to overperformance from emerging markets and international investments, which means investors are entering a time when diversification geographically should pay off.  Also on the show, Todd Rosenbluth, head of research at VettaFi, looks to a new small-cap fund that uses a covered-call strategy to protect against volatility and downside risk as his "ETF of the Week," Anthony Pompliano discusses "How to Live an Extraordinary Life," his book of 65 letters he

Kevin Mahn, president and chief investment officer at Hennion & Walsh, expects continued bouts of volatility for the market for the rest of the year, spurred by uncertainty around the election and the Federal Reserve's moves, but he noted that when the central bank historically has cut rates when the stock market is near all-time highs, the market moved sharply up in the following 12 months. As a result, he is increasingly optimistic about the next two years, though he says investors may want to lean into areas of the market that have lagged behind in the market's recent run. Pollster Margie Omero discusses a recent AARP study of women voters above the age of 50 — the largest bloc of swing voters in the upcoming election — in which nearly two-thirds of respondents say the current economy isn’t working for them, and that they feel less financially secure than they expected to at this age. Plus, in the Market Call, David Miller of the Catalyst Mutual Funds discusses using insider buying and selling as a sig

Amar Reganti, fixed income strategist at the Hartford Funds, says that the Federal Reserve normally starts cutting rates only when something has gone wrong, but there doesn't seem to be any portion of the U.S. economy that is so over-leveraged that it craters as/when a rate-hike cycle ends. If nothing surfaces, Reganti says this may be the generational anomaly where the central bank actually achieves a soft landing, conditions where the softening economy may go through a recession but without getting really ugly. Michael Kahn, senior market analyst at Lowry Research Corp., says that the market's technicals are all looking good, a sign that investors should keep riding this trend rather than worrying about backing away from it just because the market is in record-high territory. Christine Benz, director of personal finance and retirement planning at Morningstar Inc., discusses her new book, "How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement," and Craig Sarembock, wealth adviser at Bartl

Longtime personal finance journalist Jonathan Clements — the editor at Humble Dollar, and former columnist at the Wall Street Journal — discusses how his outlook and feelings about money have mostly been reinforced since he was diagnosed in May with terminal lung cancer, and how he his focusing his time, money and energy now to make the most of his time and help his family make the most of his life savings. Clements says he is not bitter about spending a lifetime amassing retirement money for a retirement he won't get to experience, and discusses how even the best estate planning may be insufficient when it comes to helping the family move forward. Steve Sosnick, chief strategist at Interactive Brokers, says that the yield curve has uninverted with recent rate cuts, but the danger sign it was flashing remains bright because recessions never happened until the curve normalized. He questions whether the economy will be strong enough to justify double-digit earnings expectations for equities, which could lead to

Nate Thooft, chief investment officer and senior portfolio manager at Manulife Investment Management says he's not "banging the table to be significantly overweight" in the technology issues that have carried the stock market back to record high levels. He says investors should be looking at areas besides U.S. tech stocks — shifting into small-cap stocks, health-care companies, real estate investment trusts and more — to keep moving forward at a time when he sees real signs that the economy is slowing.  Alex Coffey, senior trading strategist at Charles Schwab, is less worried about the market's ability to keep pushing forward led by the big names, noting that "We're at all-time highs for a reason," and saying the Standard and Poor's 500 index could reach 6,000 before the year is done. Miguel Laranjeiro, investment director at abrdn, sees rate cuts making muncipal bonds more attractive, which he says will trigger "the beginning of a robust in-flow cycle into the muni space." In the Market Call, Scott Rosenthal

Mark Fleming, chief economist at First American Financial Corp., says the big news on Wednesday was not that the Federal Reserve started a rate-cutting cycle, but that it appears that there could be additional, aggressive rate cuts that could take an additional 1.5 percentage points off rates over the next 15 months. That rate cutting, Fleming says, reduces the risk  of a deep recession, and the strength of the labor market also limits the possibility of a big decline. As a result, a year from now he expects to see a "lower mortgage rate, lower cost-of-credit rate environment -- with a relatively healthy economy, if not running at trend -- and low inflation," which he says would be a return to "normal." Todd Rosenbluth, head of research at VettaFi, looks at a fund saddled with keywords -- the WisdomTree International Hedged Quality Dividend Growth Fund -- and tells us which of those traits are so important now that the fund deserves to be ETF of the Week. Plus, in the Market Call, Dave Sekera, chief U.S. mark

Greg McBride, chief financial analyst at Bankrate.com, expects the Federal Reserve to cut interest rate three times before the year ends — starting with a first cut being announced today — and says the central bank will drop rates by one full percentage point by the time 2025 rolls around. He talks about how and where consumers and investors will first feel the impact of the cuts, and how to make the most of the looming changes. Bart de Bruijn, founder of EstateX, talks about tokenized real estate investing, an emerging concept that allows investors to effectively buy shares in properties, which they can then trade on a public exchange. Chip Lupo discusses WalletHub's latest iPhone survey, which showed — among a raft of counter-intuitive issues — that 90 percent of Americans think Apple's signature device is overpriced, but which two in five Americans would go into credit card debt to purchase anyway. Plus, Vince Lorusso, chief executive officer and portfolio manager for the Clough ETFs, discusses "valuation

Warren Pierson, co-chief investment officer at the Baird Funds, says that he expects the economy to keep chugging along, avoiding a deep recession as it enters a rate-cut cycle that initially trigger a rally but investors will not want to extend the duration of their holdings too long. Pierson notes that no matter who wins the White House in November, he expects tax hikes in order for the federal government to attack deficit problems, and he says the bond market — particularly the municipal bond market — is already anticipating that move, and is attractive as a pre-emptive move now. Robert Farrington, founder of The College Investor helps Chuck answer a listener's question about college-savings plans and how to set money aside creatively and flexibly in case the children don't take the traditional college path when their time comes. In the Market Call, Bernie Horn, manager of the Polaris Global Value fund, talks about where in the world he is finding solid values now.

Joe Quinlan, head of market strategy for Merrill and Private Bank, Bank of America, says that he expects the stock market to show better breadth in 2025, with other stocks picking up slack for the Magnificent Seven stocks, which he thinks will keep growing but at much slower rates. He notes that "the U.S. economy continues to defy expectations," and as long as that continues — and he is optimistic that it will, unabated by whatever happens in the presidential election — he will keep advising investors to buy the dips, favoring high-quality dividend payers. David Trainer, president of New Constructs, puts Sunrun back in the Danger Zone, noting that the stock has outperformed as a short since it was first singled out in 2022, but that a recent bounce-back has simply set it up for the next fall as the company runs out of money. Jerry Parker of Chesapeake Capital Corp. — one of the original Turtle Traders, a ground-breaking group of commodity traders from the 1980s — talks trend-focused investing in the Market Ca

Scott Martindale, chief executive officer at Sabrient Systems — which takes a quantitative approach to investments — says that some of the standard measures of inflation are skewed in ways that present an inaccurate picture of what's happening now. He discusses the "Harmonized Index of Consumer Prices" and how it, and several other measures, suggest that the Federal Reserve has plenty of room to make a larger rate cut now, and while he doesn't expect the central bank to take that drastic step, he expects that the rate-cut cycle will pick up speed after the first cut is made. Trader Edward Corona, publisher of The Options Oracle, says that the stock market that is flirting with record high levels is giving him a lot of technical opportunities to look at reversal plays, the kind that has punished Nvidia stock since a recent mediocre earnings report. Mitchel Penn, managing director of equity research at Oppenheimer and Co. looks at how business development companies are likely to perform in a falling-rate enviro

Gargi Chaudhuri, Chief Investment and Portfolio Strategist, Americas, at BlackRock, says that while she foresees a slowdown in the economy but nothing that will rise to the level of a recession. Still, as the Federal Reserve enters a rate-cutting phase during the fall — a historically volatile time for the market — she expects that investors will see heightened market movement, and that they will need to be patient to ride out the bumps confidently. Chaudhuri expects the market to broaden out, and says  "keep high quality, add some defense and look for continuing gains over a longer period of time." Another way to answer Chaudhuri's call for caution would be with a low-volatility fund, and Todd Rosenbluth, head of research at VettaFi , makes one his ETF of the Week. Chuck revisits his July decision to not get pet insurance in the wake of the injury his puppy Maho suffered in early August and the significant vet bills he has paid since. Plus Ivana Delevska, founder of SPEAR Invest — which runs the Spear Alpha

Jonathan Treussard, founder of Treussard Capital Management says "we haven't seen this much geo-political static on the horizon in at least a generation," raising real concern about how a laundry list of global boiling points could hit home. He says those risks overhang a market that looks like it can avoid a downturn for a while with the Federal Reserve looking like it can deliver a soft landing. Catherine Collinson, president of the Transamerica Center for Retirement Studies looks at the group's latest research into the state, outlook and retirement readiness of the American middle class and, in the Market Call, Manny Weintraub, principal at Cannell & Spears, talks about his unending search for "super great stocks that won't kill you."

Kristina Hooper, chief global market strategist at Invesco, says that recessions haven't been canceled, but there is no reason to expect one for at least the next year, "especially if we get the Fed to start to meaningfully ease." She thinks the Federal Reserve will start that easing process later this month with a small rate cut, largely because anything larger might spook the market. Hooper says she thinks the Fed is late to begin the cuts, which is why making the move now and starting the rate-cutting cycle is important for staving off recession. Chip Lupo, writer and analyst at WalletHub discusses the site's recent study into the best places to retire, finding that four of the top five locales being in Florida, but the fifth in frigid Minnesota. He discusses the factors that will ultimately make some community best for you.  Plus, market contrarian Hilary Kramer, who runs seven different investment newsletters, focused on everything from value investing to IPOs to trading and more, returns to the Market C

David Trainer, founder and president at New Constructs — who put Nvidia stock in "The Danger Zone ahead of its earnings report at the end of August, just before the stock cratered — says that the market and economic conditions are changing and lower liquidity and a slowing economy "is a recipe for a major correction in a lot of individual stocks," and that companies with misleading earnings are particularly likely to be punished. That's why he put Dayforce in the Danger Zone, because it has "the most overstated earnings" in the Standard & Poor's 500. Trainer also reiterates his call on Nvidia, noting that despite the stock's recent drop, it has a lot more room to fall. John Cole Scott, president of Closed-End Fund Advisors discusses how investors in closed-funds trading at premiums can use sector-swapping to turbocharge their gains, selling funds trading at premiums to buy similar funds currently at discounts, and provides examples of how this would pay off now. Andrew Leigh, author of “How Economics Expl

David Souccar, international equity portfolio manager at Vontobel Quality Growth, says that the interest-rate cutting cycle is going to help international equities, as foreign central banks follow the Federal Reserve's moves, which should help foster a softer landing worldwide.  That said, Souccar notes that if the United States starts raising tariffs radically, it will hurt the dollar, which will make investors want to invest internationally to protect against the dollar's falling value against other currencies. Souccar notes that investors are likely to find the most opportunity in Europe — particularly in Great Britain — Canada and Japan. Plus, Todd Rosenbluth, head of research at VettaFi, picks a total-market fund that equal weights its holdings by sectors for his ETF of the Week, Matt Schulz, chief credit analyst at LendingTree, discusses their survey on how many parents give children access to credit cards and how often they regret that decision, and Kelley Wright, editor of Investment Quality Trends, b

A funny thing happened on the way to today’s show. Okay, it’s not so funny since it basically canceled the show so take a quick listen to find out what happened.