Money Life with Chuck Jaffe

Jason Hsu of Rayliant Global Advisors says that China -- which was first into and first out of the pandemic -- is a good economic precursor for the rest of the world to watch now, as its stock market euphoria from 2020 has backed off with more mundane returns this year. Hsu notes that China's path through the pandemic was different than for much of the world, highlighting that there has been some de-coupling between global markets, less correlation where one nation's issues lead to problems elsewhere; that, he notes, is good for diversification and a reason to give international investments a bigger role in portfolios. Also on the show, Noland Langford of Left brain Investment Research discusses how the stock market's recent rotation has him looking for growth in some non-traditional places, Chuck talks about the latest research around the '4 percent rule' for retirees, and David Brady of Brady Investment Counsel talks growth stocks in the Market Call.

Willie Delwiche, investment analyst for AllStarCharts.com, says that the market is on solid ground now, even as it enters the second year of a cyclical rally. He suggests looking for clues on where to invest from the current 'digestive phase,' which saw the market take a turn for the worse; despite that downturn, Delwiche notes that financials and materials stocks reached new highs, showing their strength -- which he expects to continue -- in this market. Also on the show, Doug Loeffler of Sierra Investment Management talks about the market and investors' changing risk profiles, Chuck answers a question from a novice who is considering cryptocurrency investments, and Brian Smoluch of the Hood River Small-Cap Growth Fund returns to the Market Call for the first time in roughly five years.

Tom McIntyre of McIntyre, Freedman and Flynn -- who has been on the Market Call more than any other guest -- returns to the show and says that for the first time since the Reagan Administration, he is genuinely concerned about the prospect of rising inflation. He sees oil rising to 100 dollars a barrel and says commodity prices are showing upward pricing pressure every day. Also on the show, David Trainer of NewConstructs.com puts the SquareSpace IPO -- due to launch on Wednesday -- into the Danger Zone before it even hits the market, Morgan Henderson of Choice Mutual talks about the poor end-of-life financial planning decisions that many Americans are making, and William Burckhart talks about changing the face of investing, as described in his new book, '21st Century Investing.'

David Ellison, manager of two Hennessy Funds focused on financial-services stocks, says that the market has technology companies trading at 15 times revenues while banks are trading at 10 times their profits, creating a valuation edge that 'makes it hard to see how [financials] will not do well over the next couple of years,' and that's before factoring in rising interest rates and other factors that could change and help the financial landscape going forward. Also on the show, Mike Taggart of Taggart Fund Intelligence discusses how investors need to look past discounts when analyzing closed-end funds, technical analyst D.R. Barton Jr. discusses how current market volatility looks mostly like a buying opportunity, and Jamie Cuellar, manager of the Buffalo Small Cap Fund, says in the Market Call that investors need to be picky with small stocks as market volatility grows over the remainder of the year.

Bill Stone, chief investment officer for Glenview Trust, says that current inflation may be on the rise, but the increase may be caused in part by bottlenecks in certain commodities that have caused prices to increase, and that pressure should ease over time. He expects value stocks to continue their recent outperformance over growth during the rest of the year, with a strong economic recovery and the slight inflation blip pushing that action along. Also on the show, Tom Lydon of ETFTrends.com discusses a cash-cow investment strategy with his pick for the ETF of the Week, Jerome Clark discusses how the pandemic played out in family money talks, as measured by the T. Rowe Price 2021 Parents, Kids & Money Survey, and Roger Conrad, editor of Conrad's Utility Investor, covers a wide range of utility stocks in the Market Call.

Alan Gayle, president of Via Nova Investment Management, says that the light at the end of the pandemic's tunnel is getting brighter and that as conditions improve the astronomically high expectations for economic growth keep moving higher, as do the already heightened expectations for Standard and Poor's 500 earnings. 'The overriding theme,' Gayle says, 'is that the fundamentals continue to improve,' creating the proverbial rising tide that is lifting all boats. Also on the show, Brian Dress of Left Brain Investment Research discusses what growth investors should be thinking now that volatility has made the ride much bumpier, and Ted Rossman of CredtCards.com covers a new survey showing that many parents helped their children get through the pandemic financially, but to the detriment of their own finances. In the Market Call, Andre Weisbrod of Quantum Financial Advisors makes his debut on the show discussing stocks and ETFs.

It's a wide-ranging show today with Mish Schneider of MarketGauge.com talking technical analysis and worrying about the status of the dollar and how it appears to be weakening, and Andy Kapyrin of Regent Atlantic discussing the Biden Administration's tax-overhaul proposal, which would raise capital gains taxes on the wealthiest Americans to more than 40 percent. Stan Haithcock, 'Stan the Annuity Man,' returns to answer an audience member's question about how and whether to establish an annuity for lifetime income, and author John Wasik talks about the overlooked economic legacy of Abraham Lincoln, how Honest Abe's policies set the groundwork for the American economy and how he'd likely deal with today's economic challenges.

David Trainer of New Constructs revisits three past 'Danger Zone' picks that recently reported earnings that the market could take as a positive but that he feels continue to mask deep underlying problems. Trainer believes two of the three companies ultimately could prove worthless, but even if they don't he says that all three stocks are dramatically overpriced based on their realistic prospects for controlling their respective industries. Also on the show, Chuck covers why Friday's bad jobs report was greeted by new stock market highs, John Divine of US News and World Report talks about dogecoin and whether investors should consider the latest hot cryptocurrency, author Jennifer Turliuk discusses how to figure out what to do with your life, and Adan Coons of Winthrop Capital Management talks ETFs in the Market Call.

Lawrence McMillan of McMillan Analysis and OptionStrategist.com says he is tightening up his stops right now, because the market is showing a few subtle danger signs within mostly positive trends. He worries that the market -- and particularly the Nasdaq, which has struggled while other indicators have flirted with new highs -- could be in for a short, sttep downturn before they can build off of positive news and trends. Also on the show, author Phil Moeller discusses his latest book, 'Get What's Yours for Health Care,' John Cole Scott of Closed-End Fund Advisors and the Active Investment Company Alliance looks at the opportunities now in closed-end funds, and Ken Applegate, lead manager for the Wasatch International Growth and Wasatch International Select funds talks small- and mid-cap stocks in the Market Call.

With the stock market near record highs and up nearly 50 percent in the last 12 months, big gains aren't all that impressive. But Baron Partners Fund -- which gained 45 percent in 2019 and nearly 150 percent in 2020 -- has now racked up a 165 percent increase over the last 12 months, more than three times the return of the broad stock market and is the number one fund in its category in every time period from one year to 15 years. In an extended Big Interview, manager Michael Baron discusses how and why that has happened, what they're doing to avoid regressing to the mean in the future and gives his reaction to Morningtsr analysts downgrading the fund to a 'neutral' rating despite its long run of success. Also on the show, Tom Lydon of ETFTrends.com makes a bond fund with an interesting twist his ETF of the Week, and Jason Herried, director of equity strategies for Johnson Financial Group discusses mutual funds and exchange-traded funds in the Market Call.