Money Life with Chuck Jaffe

Chris Manderfield joins Chuck to discuss KeyBank's 2020 Financial Resiliency Study, which showed that Americans have been building up emergency savings during the pandemic, with more than half of respondents saying they could immediately cover a $2,000 emergency, up sharply from a year ago and disagreeing with a number of other prominent studies released since Covid-19 overtook the global economy. Also on the show, author Michael Fox-Rabinovitz discusses the value of investing in buying fractional stakes in collectibles like art, wine, baseball cards and more, David Trainer of New Constructs suggests that traditional mutual funds and ETFs are headed for trouble, and Michael Underhill of Capital Innovations talks infrastructure investing in the Market Call.

It's a festival of optimism on today's show, as all of the guests are bullish on the market, or at least the little part of the market where they make their living. Michael Roomberg of Miller/Howard High Income Equity sees value stocks -- already on a run -- finding their long-term footing again once the pandemic ends, Mike Dowdall of BMO Global Asset Management sees solid opportunities in a number of sectors and global locations as the economy recovers from its Covid-induced doldrums, Dan Zanger of Chartpattern.com sees the potential for the standard and Poor's 500 to hit 5,000, and Michelle Steves of Baird Small-Cap Value fund agrees with the value assessments of others, but thinks the effects will be particularly strong in small- and mid-cap stocks, which have been left behind as the market advanced thanks to a few holdings but is poised for a more broad-based move now.

Tom Lydon of ETFTrends.com made the ProShares Online Retail ETF his pick as ETF of the Week, noting that the fund -- trading well above its 200-day moving average -- is poised for a long run because the explosive growth in online retailing seen during the pandemic is just a start. Also ont he show, Robert Farrington of The College Investor discusses the best free and paid software platforms for individuals looking to get the best for their own unique situation this year, David Waldron discusses his book on investing in stocks and talks about how investors can still find ways to beat the market, and Chuck answers three questions frmo audience members.

Brian Singer, co-manager of the William Blair Macro Allocation Fund, says that investors should be looking at making allocation changes now because the economy and market will come out of the pandemic changed, ready for a more broad recovery but also facing increased inflation as an offshoot of the economic stimulus. While not expecting inflation to take root yet, Singer agreed that certain inflation plays -- including energy stocks, the value investment style and more -- are likely to do well; he is less optimistic about the domestic market in general going forward. Also on the show, Freddy Garcia of Left Brain Wealth Management discusses how Enphase Energy has moved from a highly speculative stock that has gained more than 500 percent in the last year to a 'core holding' that he feels comfortable putting in anyone's portfolio, and Richard Howe of the Stock Spin-off Investing newsletter talks stocks in the Market Call.

Karl Mills of Jurika, Mills and Keifer, says that investors need to change their long-term asset allocations to adjust for the low yields and low real returns they're likely to get from bonds for at least the next 10 years. But with a strong desire and need for people to move forward from the coronavirus pandemic, he expects that the market and economy will be strong once the new normal is established. Also on the show, David Trainer of New Constructs covers three stocks that were particularly deserving of their spot in the Danger Zone in 2020, and Malcolm Polley of Stewart Capital Advisors talks 'business-perspective investing' in the Market Call.

Chris Vermeulen, chief market strategist at The Technical Traders, says that the market's technicals are very strong, with all signs showing a new bull market that should carry the Standard and Poor's 500 to 4,200. 'You have to throw fundamentals and economic stuff out the window,' he says, 'because this market from a technical standpoint is set to go higher,' noting that the market could climb the wall of worry -- with brief respites and corrections -- all the way to 4,600. Also on the show, William Costigan of Guggenheim Partners says that low real interest rates and nominal Treasury yields at or below zero is forcing investors to 'be more creative, more thoughtful and do more homework' to find better fixed-income results, Ed Carson of Investor's Business Daily discusses the latest IBD/TIPP Economic Optimism Index, and Tom Plumb of the Plumb Funds talks about buying disruptive companies in the Market Call.

At a time when emerging markets investments look particularly promising, Laura Geritz of Rondure Global Advisors says that India is the country where she finds the best opportunities, while China is the market that she finds more troubling. Geritz discusses how the global pandemic -- which has curtailed the brutal travel schedule she keeps, normally spending about three-quarters of the year on the road -- has changed but also improved the investment research process, and why it has created opportunities for small companies around the globe. Also on the show, Tom Lydon of ETFTrends.com makes a classic financial-sector fund his ETF of the Week, and James Abate of the Centre Fuds and Centre American Select Equity covers large-cap domestic stocks in the Market Call.

Mark Fleming, chief economist for First American Financial Corp., says that the real estate market will not be returning to 'normal' when the pandemic is done because it has been fundamentally changed by the way lives have been affected by work-from-home and other trends. Those issues led to a particularly strong year in 2020 and will contribute to another big year ahead, especially with the millennials aggressively moving into their home-ownership phases at a time when there is a low supply of available homes. Also on the show, Janice Quek of Left Brain Investment Research discusses Datadog, a stock that isn't part of the firm's recent cyber-security theme but which has similar growth characteristics and potential, JP Lee of Van Eck Vectors ETFs talks about the gaming and e-sports industries and Matt Schulz of CompareCards.com discusses where consumers went right and wrong with their savings and spending last year.

Avi Gilburt, founder of Elliott Wave Trader, says that nervous investors should turn off the news, look at technicals and Elliott Wave analysis and join him in thinking the market's next move will be to 4,600 on the Standard and Poor's 500, a gain of more than 20 percent from current levels. But Gilburt goes further to say that he thinks the market will get to 6,000 before the current cycle ends, though it may not be until 2022 or '23 before it goes that far. Also on the show, University of Virginia business professor Gregory Fairchild, author of 'Domestic Emerging Markets," Matt Zajechowski of Digital Third Coast discussing a survey showing that a surprising number of Americans spent less money than expected in 2020, plus Chuck Carlson of the DRIP Investor newsletter talking about removing the emotion from investing during the Market Call.

Michael Mullaney, director of global markets research at Boston Partners, says that while investors have good reasons to be nervous, the market and economy are set up for a good year and reasonable returns, provided there isn't some glitch in the end game of the pandemic. While he acknowledges issues like potential inflation, the disconnect between the market and the economy and more, Mullaney says those concerns will take a while before they truly impact the market. Also on the show, Dave King of Columbia Threadneedle discusses a survey of where investors expect to go to generate income this year, David Trainer of New Constructs reviews three Danger Zone picks that didn't work out in 2020 -- but that he still expects to pay off down the line -- and Bill Hench of the Royce Opportunity fund talks small-cap value investing in the Market Call.