Money Life with Chuck Jaffe

Ryan Detrick, chief market strategist at LPL Financial, says that economic surprises over the last six months have built up 'animal spirits' for the market to push higher, and that once vaccines help to diminish the impact of the coronavirus pandemic that the stock market is headed higher for a long time, delivering low double-digit returns next year. Opening the show talking technical analysis, Jeff Bishop of RagingBull.com talks about why he thinks Santa Claus will be coming to the market in late December and why he isn't currently worried about a big decline from near-record high stock-market levels. Also on the show, author Lawrence Cunningham discusses 'Quality Shareholders' and why individuals should gravitate toward companies that seek out those long-haul focused, patient investors, and Matt Zajechowski of Digital Third Coast discusses the firm's latest research into how the pandemic has changed consumer spending habits.

Clyde McGregor, who recently celebrated his 25th anniversary at the helm of the Oakmark Equity and Income Fund, says that fixed income simply will not deliver the kinds of income investors have traditionally sought and expected, so investors have to change expectations and strategies to generate more yield. Also on the show, Munish Malhotra of Cambiar Investors notes that 'Cheap is not value,' David Trainer puts an upcoming IPO in the Danger Zone and Francesca Ortegren of Clever Real Estate discusses the firm's latest survey on the impact of the coronavirus pandemic on consumer behaviors.

Sir Angus Deaton, winner of the Nobel Prize for Economics for his groundbreaking work on 'deaths of despair' says that statistics don't support the critics of coronavirus shutdowns, who suggest that economic woes will lead to increased suicides among displaced workers and business owners. In a wide-ranging interview, Deaton discusses the economic impacts of the virus and more. Also on the show, Rob Shaker of Shaker Financial says that the tax-loss selling season for closed-end funds should be particularly interesting in 2020, given the volatility funds saw throughout the year, and Chuck talks about his ultimate holiday gift for children this year, stocks, which are easier than ever to give as a present.

David Brady of Brady Investment Counsel talks in the Market Call about the importance of making good buys with the right long-term prospects because the ideal investment behavior would be to hang onto those stocks for years; selling has a way of not working out so well, Brady notes. In the Big Interview, Alan Gayle of Via Nova Investment Management discusses the market and the economy, noting that the new normal society is moving towards for after the pandemic 'will be business as usual, done in unusual ways.' Also, Tom Lydon of ETFTrends.com talks about investing in small-cap stocks through his 'ETF of the Week.'

Blair Sheppard, author of 'Ten Years to Midnight: Four Urgent Global Crises and Their Strategic Solutions," discusses current situations that threaten orderly governments, economic systems and more in the United States and around the globe and talks about the steps that can be taken to avoid a dark future. Also on the show, Freddy Garcia of Left Brain Wealth management discusses how the election did -- or didn't -- change the outlook on growth stocks the firm liked before the voting, and suggests a new entry in a sector that's warming up, Greg McBride of Bankrate.com talks about why many Americans are missing out on current mortgage refinancing opportunities, and Bill Stone of Stone Investment Partners gives his take on the market and the economy.

Howard Dvorkin of Debt.com discusses his site's study of 1,200 adults, of whom six in 10 expect to spend less this holiday season, even though that cutback is not caused mostly as a result of the pandemic, but rather is because of the muted emotions of the socially dstanced holiday. Dvorkin says that every year the surveys show that consumers enter the holiday season with good intentions of spending less, and they never wind up holding to those spending goals once they actually get to shopping. Also on the show, David Dowden of MacKay Municipal Managers discusses the outlook for muni bonds, John Divine of U.S. News and World Report sounds off on the prospects for Pfizer, Moderna and the investors who are making a play on the vaccine stocks now, and we revisit a recent Market Call chat with Chuck Self of iSectors.com.

Ed Shill, portfolio manager for the QCI Balanced Fund says in today's Market Call that he is feeling defensive about the market now, putting airbags on portfolios with more cash to insulate against a market he describes as overbought. He is looking into stocks that have been underbought, the names that have been suffering during the pandemic but that stand to benefit as the economy finally moves through the illness and starts to reopen more fully; that means airlines, travel companies and much more. In the Big Interview, however, Ed Confrancesco of International Assets Advisory goes the other way, suggesting that investors ride with the hot work-from-home kind of names that have led the market's rebound from March lows. Also on the show, Amy Pirozzolo of Fidelity Charitable discusses the pandemic's impact on volunteerism and charity, and Kyle Guske of New Constructs revisits some past Danger Zone picks that are no longer on the firm's 'most dangerous list,' some of which were big winners and others that defied gravity and logic.

Roger Conrad, editor of Conrad's Utility Investor, says in the Market Call that while the stock market bounced back from its late winter freefall, some groups -- including utilities -- were left behind in the recovery. He expects them to play some catch-up and to be a reason why the market drives higher, especially in 2021 as there is a more clear resolution to the pandemic. Also on the show, Robert Bush, director of closed-end funds for Calamos Investments, discusses discounts, convertible securities and more in the NAVigator, Matt Harris of HighTower Advisors talks technicals now, and financial adviser Christopher Manske chats about his new book, 'The Prepared Investor.'

Stephen McKee, editor at the No-Load Mutual Fund Selections and Timing newsletter, says that a mix of investment styles are in his methodology's top ranks, which means that the market's advance is broad-based, and 'things are in-gear for the upside.' poised for more. He says all cap sizes in domestic and international categories are clicking now, and should continue. There's also a lot of bond talk on today's show, with Tom Lydon of ETFTrends.com making a high-yield issue his 'ETF of the Week," and Venk Reddy of Zeo Capital Advisors talking short-duration bonds and social investments via junk bonds.

Bond-fund manager Bruce Monrad, chairman of the Northeast Investors Trust, discusses the way that investors may want to look at junk bonds as a way to boost a portfolio's equity returns while reducing volatility, especially in these low-rate and low-yield times. Monrad notes that high-yield bonds often edge the stock market during troubled times, and explains why the recovery from the pandemic might be a period to expect that. Also on the show, Brian Dress of Left Brain Investment Research discusses investing in China and in one of China's biggest and best known stock success stories now, Ed Carson of Investor's Business Daily talks about the news site's latest investor optimism survey -- which shows that only the winning electorate feels much hope right now -- and Matt King of King Wealth Advisors covers mutual funds and ETFs in the Market Call.