Money Life with Chuck Jaffe

Everett Millman, precious metals specialist at Gainesville Coins, says that while investors traditionally turn to gold to act as a hedge against inflation, precious metals haven't been as good of a hedge as stocks and other assets. Millman says the market seems to be buying the narrative that inflation is transitory, noting that money has been flowing out of precious metals at a time when most people would expect demand to be high; it has also limited gold's effectiveness in these inflationary, rising-rate times. In The NAVigator segment, Eric Chadwick, president at Flaherty & Crumrine, says that preferred securities are the 'sweet spot' in this market, offering relatively attractive yields without adding significant risk to a portfolio. Also on the show, Catherine Golladay discusses how workers are more stressed about their finances now, but also more optimistic that they are moving in the right directions, and the Market Call is a rebroadcast of a recent chat with Nancy Tengler, chief investment strategist at Laffer Tengler Wealth Management.

Historian Kyle Harper, author of 'Plagues Upon the Earth; Disease and the Course of Human History,' says in the Book Interview today that the coronavirus is just the latest worldwide disease phenomenon and that those past events have spurred positives like developments and negatives like inequality. He discusses the outcomes from history and how current events will impact society and the markets for years. Also on the show, Tom Lydon of ETFTrends.com makes a brand new fund with an eye on frontier markets his ETF of the Week, Bruce Monrad of Northeast Investors Trust talks the bond market and the hunt for yield in a rising rate/inflation market, and Chuck answers a listener's question about dividend investing.

Joseph Brusuelas, chief economist at RSM, says that the economy has turned the corner from recovery to expansion, and says that concerns over slowing growth miss the point that growth rates will continue to be well above historic rates. Brusuelas says that the Delta variant and its ability to disrupt global supply chains remains the biggest worry for the global economy moving forward, but he notes that he expects talk of inflation and supply chain issues to subside by early 2022; meanwhile, he expects the economy to be growing at a 5 percent clip in the second half of the year, more than double historic norms, meaning that any slowdown is mostly about changing the shape and duration of the rebound, not ending it. Also on the show, Ryan Kelley, chief investment officer at the Hennessy Funds, talks about investing in the utilities and energy sector at a time when prices have been popping as demand rebounds, and Chuck talks about determining who you can trust for your financial advice.

Chris Vermeulen, chief market strategist for The Technical Traders, says the market's frothy September has pushed it to where he's headed for cash, at least for the short term, avoiding what he thinks will be a short downturn leading into a sideways market and ultimately a buying opportunity, as he expects the market to rebound into a strong bull run that could last six to eight months. At that point, however, Vermeulen says the market's years-long rally could be running out of steam and on its last legs. Also on the show, David Meyer, president of the Public Investors Advocate Bar Association talks about why consumers are never paid in 30 percent of the arbitration victories against rogue brokers, Washington Post columnist Allan Sloan discusses the debt-ceiling debate's negative impact on the bond market and borrowing -- even if it ultimately gets passed -- and Chuck answers listener questions about gold and bitcoin, and selling stocks.

Syed Ejaz, financial policy analyst for Consumer Reports, joins Chuck to talk about the magazine's report released last week which showed that popular apps providing access to credit scores may not offer all of the benefits users expect and come burdened with hidden costs. Ejaz says that, aside from some measure of convenience, consumers would mostly be better off keeping tabs on their credit reports and credit scores on their own. Also on the show, author Dorie Clark, talks about 'The Long Game: How to Be a Long-Term Thinker in a Short-Term World,' David Trainer of New Constructs says a very hot stock is headed for trouble and belongs in the Danger Zone, and Justin Carbonneau, vice president and partner at Validea.com and Validea Capital Management, talks stocks in the Money Life Market Call.

Julius de Kempenaer, senior technical analyst at StockCharts, says that the long-term trend for the stock market and for nearly every sector still looks strong, but he says the relationship between stocks and bonds needs fixing, which is why he expects a technical correction to give the market some time to breathe and digest the action of the last two years. De Kempenaer expects limited upside potential for a while, but says the downside could be a long slow sideways move or a steeper-but-shorter downturn. Also on the show, Bryce Doty of Sit Investment Associates says that a diversified portfolio of closed-end funds can make it possible to safely stretch for more yield, financial planner and blogger Jessica Weaver discusses how wasted time may actually be the biggest money loser for most people, and Gerry Frigon of Taylor Frigon Capital Management talks growth stocks in the Market Call.

Michael Falk of Focus Consulting Group -- who joins Chuck at the end of every quarter to discuss the market, investing and his personal battle with Lou Gehrig's Disease -- says that investors need to recognize that the greatest obstacle to their long-term financial success isn't the market and the economy, but the man in the mirror. 'Behavior,' he says in a wide-ranging interview, ' is more important than your investments,' noting that you will 'cause the greatest amount of error in any decision-making process you can use or design.' Also on the show, Tom Lydon of ETFTrends.com makes a brand new, tech-oriented fund from Goldman Sachs his ETF of the Week, and Bryan Lee of Blue Zone Wealth Advisors talks about finding stocks with recurring, repetitive business models -- particularly on small-ticket items -- in the Market Call.

Fritz Folts, chief investment strategist at 3EDGE Asset Management, says supply chain issues, Covid variants and other factors aren't going away, which will leave inflation higher heading into 2022, making it harder for the Federal Reserve to balance interest rates and inflation with changing global growth. Folts says that investors need to respond to the potential trouble by being better diversified outside of the United States, trying to generate more return without taking on too much risk. Also on the show, Brian Dress, director of research for Left Brain Investment Research, discusses preferred securities as a high-yield alternative in today's low-rate market, Zack Gipson, managing director of digital investor solutions for Charles Schwab talks about a survey released Tuesday that shows how investors are more reliant on technology than ever but still need human touch on the most important planning decisions, and author Christopher Mims discusses his new book, 'Arriving Today: From Factory to Front Door -- Why Everything Has Changed About How and What We Buy.'

Erik Weisman, chief economist and portfolio manager at MFS Investments, says that if inflation were to run at 3 percent or more for all of next year, it would be a significant challenge for both stock and bond markets 'and there may not be that many safe places to hide,' but while he sees that potential danger, he believes that the beginning of 2022 is likely to be where inflation peaks near 5 percent and then settles down to levels that allow for continued growth. It will be slower growth for both the economy and the market, Weisman warns, but still positive. Also on the show, Eric Noe of Business.com discusses a survey about how roughly seven out of eight investors would like cryptocurrency made available in their retirement-savings plan, a discussion that may seem particularly ironic after Chuck opens the show with the tale of @MrGoxx, the cryptocurrency-trading hamster (no, he's not kidding); Chuck also takes a listener's question about automatic reinvestment plans for ETFs, and Chris Natividad, chief investment officer at Equbot talks about using artificial intelligence as a means of selecting stocks in the Market Call.

Bryce Doty, senior portfolio manager for Sit Investment Associates, says that current causes for investor concern -- the debt ceiling, inflation and more -- are creating volatility and buying opportunities in a market that's on solid long-term footing as it continues to reopen and recover from the coronavirus pandemic. Also on the show, Kyle Guske from research firm New Constructs explains in the Danger Zone why the Allbirds IPO won't fly right from the start, University of Arkansas professor Mervin Jebaraj discusses the latest outlook survey from the National Association for Business Economics and, in the Market Call, Nancy Tengler, chief investment strategist at Laffer Tengler Wealth Management talks about finding growth stocks at reasonable prices given current market conditions.