Money Life with Chuck Jaffe

Noted value manager Abhay Deshpande of Centerstone Investors actually compares value stocks to toilet paper, noting that you might not be thinking much about them when market growth is humming along, but at other times they become really precious. Right now, Deshpande says, there are plenty of good values to be found in the market, so long as you are mostly willing to avoid the technology stocks. Also on the show, Janice Quek of Left Brain Investment Research discusses Skillz Inc. as a high-growths tock that won't look quite right until it generates profits, Melissa Ridolfi of Fidelity Inc. talks about the firm's research on how retirement investors believe the pandemic has impacted their long-term savings, and Martin Leclerc of Barrack Yard Advisors talks stocks in the Market Call.

Andrew Chanin of the Procure Space ETF -- ticker symbol UFO -- discusses how NASA's Perseverance mission to Mars has stoked interest in space as the next frontier in investing, and talks about how investors can keep their head in the stars but their feet on the ground when listening to fantastic stories of future potential. Also on the show, Jerremy Newsome of RealLife Trading talks technical analysis and says that he is loading up on some tech stocks that have been beaten up in the latest NASDAQ setback, particularly on hot names like Tesla and Teledoc that have seen some of the biggest setbacks, Ilan Kolet of the National Association for Business Economics covers the group's latest survey on when inflation and interest rates are likely to increase, and Robert Zuccaro talks about his new book, 'How Wall Street Reshaped America's Destiny.'

Martin Fridson, chief investment officer at Lehmann Livian Fridson Advisors says he expects the Federal Reserve will get inflation up to its target of 2 percent, but that investors shouldn't expect much more than that despite the inflationary impact of economic stimulus, because there isn't rising pressure on wages that would be necessary to take inflation to problematic levels. Fridson discussed where he is turning to for yield now. Also on the show, Matt Hougan of BitWise Investments answers audience questions on bitcoin investing, Kyle Guske of New Constructs discusses a mutual fund with a stylle problem and a penchant for dangerous stocks, and Chris Krumenacker of Bryn Mawr Trust talks stocks in the Market Call.

Markus Schomer, chief economist at Pinebridge Investments, agrees with the many observers who expect a booming economy as the coronavirus pandemic comes to an end, but he says that once the stimulus stops what will be left is an economy that is less productive with a lower long-term sustainable growth rate. While he doesn't expect runaway inflation or dramatically higher interest rates, digesting the growth will lead to weaker equity markets down the line. Also on the show, John Miller, head of municipals at Nuveen, discusses the surprisingly strong financial position that states and communities are in as the pandemic winds down, Ken Berman of Gorilla Trades gives his technical take on the market and John Barr of the Needham Growth and Needham Aggressive Growth funds talks stocks in the Market Call.

Robert Frick, corporate economist at Navy Federal Credit Union, says the economy will deliver stellar economic growth but that the deep hole it is coming out of will make progress slow, which is actually good news in that it means the pandemic recovery should last longer. Frick believes that inflation worries currently are overblown, saying that so long as unemployment is high and wage growth is low, significant inflation will have a tough time finding a foothold. Also on the show, Tom Lydon of ETFTrends.com says that pent-up demand should spark the retail industry, so he makes a retail specialty fund his ETF of the Week, Matthew Schultz discusses a LendingTree survey showing that many Americans save a few bucks by mooching their online services from the accounts of others, and Mike Larson of Weiss Ratings -- editor of Weiss' Safe Money Report -- talks stocks in the Market Call.

Jurrien Timmer, director of global macro at Fidelity Investments, says the 'reign of large-cap growth stocks may actually be ending,' with a weaker dollar and the first signs of rising inflation and the potential for higher interest rates triggering a market rotation that will favor small-cap, value and non-U.S. stocks. He also discusses the need for investors to start adjusting to inflation now, rather than waiting for its full-blown onset which he thinks will happen after a burst of economic growth and the 'return to normal.' Also on the show, Mark Hines of Left Brain Investment Research talks about real estate investment trusts and highlights New York Mortgage Trust is an income stock with growth prospects, and Ed Slott of IRAhelp.com, discusses his latest book 'The New Retirement Savings Time Bomb' and discusses how today's political climate should have investors more concerned than ever about how taxes will impact their lifetime savings precisely when they need the money most.

Dan Davies, author of 'Lying For Money: How Legendary Frauds Reveal the Workings of the World,' says that financial scams that revolve around trust thrive in the world's most open/free markets and are something of a necessary side-effect to commerce. Davies notes that if everyone avoided financial stories that 'sound too good to be true,' they would have missed out on success stories like Amazon.com even more often than avoiding the occasional scam. Also on the show, Brady Dougan of Exos Financial -- which recently opened an ETF focused on specialty purpose acquisition corporations -- talks about how SPACs have changed over time, en route to becoming one of the hottest investment types for companies looking to go public today, and Will Rhind of GraniteShares discusses closed-end funds and business-development companies in the Market Call.

Sheraz Mian, director of research at Zacks Investment Research says that the U.S. economy is likely to see economic growth more in line with emerging markets over the next few quarters, but he warns that much of that action has already been priced into the stock market, meaning the economic boom may not add much to the stock market rally. Also on the show, Jeffrey Ptak of Morningstar talks about research showing that -- at least for now -- past performance is showing that it can be somewhat indicative of what happens next to a mutual fund, and Kyle Guske of New Constructs discusses a stock with ties to Bitcoin that he expects to be wildly overvalued as it goes IPO, and Kathy Boyle of Chapin Hill Advisors talks mutual funds and ETFs in the Market Call.

Doug Ramsey, chief investment officer at The Leuthold Group, says the stock market's current valuations remind him of 20 years ago, when the stock market was peaking as the Internet bubble market burst; he also says that the bond market is creating a bubble, but that the impact of the stock bubble will be greater when it bursts, which he thinks will occur late in or after the economic recovery from coronavirus. Meanwhile, Zach Jonson, chief investment officer at Stack Financial Management, says that the Standard and Poor's 500 is broken, failing to represent the broad domestic economy, which is one big reason why the market performed well while the economy was suffering in 2020. He expects that disconnect to continue -- but with the economy bouncing back and the stock market likely lagging -- going forward. Also on the show, Nick Holmes, manager of the Tortoise Essential Assets Income fund, discusses investing in water infrastructure, and how it is different from traditional infrastructure investing.

Jason Brady, chief executive officer at Thornburg Investment Management, says that the economy is poised for strong growth, but that high stock valuations and continued volatility will create a divergence between the economy and market that reverses the trend of 2020, when stocks grew fast while the economy sputtered. He suggests rebalancing portfolios because the 'trends that were in place for the last 12 months or so will be in place for the next 12.' Also on the show, Tom Lydon of ETFTrends.com makes the Van Eck Vectors Social Sentiment fund -- a new issue that is trading in stocks that have been caught up in social media buzz -- his "ETF of the Week," Jeff Hoyt of SeniorLiving.org discusses a surprising survey about the impact of the pandemic on the finances of Americans age 60 and over, and Gerry Frigon of Taylor Frigon Capital Management talks stocks in the Market Call.