Money Life with Chuck Jaffe

Tendayi Kapfidze, chief economist at LendingTree, says that a looming eviction crisis will have a dramatic impact on the economy, even if the number of actual evictions is held ni check by lawmakers. Kapfidze noted that the economic troubles hidden in renters unable to make payments and landlords unable to collect rents will make it that the economy can;t recover to pre-coronavirus levels soon. While the decline itself may not be deep and traumatic, Kapfidze notes that 'A 10 percent sustained decline in the economy is a significant thing and will do a lot of damage to the economy as a whole.' Also on the show, Jean Young of Vanguard discusses how few of the firm's investors showed signs of panic during the market downturn in February and March, and that those who did exit for the safety of cash mostly would have been better off sticking with stocks, David Trainer of New Constructs says Wayfair may be popular but the stock is headed for trouble, and Kathy Boyle of Chapin Hill Advisors talks funds and ETFs in the Market Call.

Martin Pring of Pring research says that investors may intuitively feel that the stock market has rebounded too quickly from March lows and might be expecting a downturn, but notes that the indicators he relies on are showing that stocks are oversold. As a result, Pring suggests going with the head -- and the mathematics of technical analysis -- and pay attention to numbers showing that the market has a lot of upside momentum that could extend the current rally by at least 10 percent and that could make it last several more years. Also on the show, veteran financial journalist John Waggoner talks about why the media overlooks closed-end funds, author Frank Stricker discusses unemployment from a past, present and future perspective, and Mike Bailey of FBB Capital Partners talks stocks in the Market Call.

Kevin Mahn, chief investment officer at Hennion and Walsh, says that stock market valuations have again risen to where they should make investors nervous, based on where they stand compared to price/earnings ratios for the market. As a result, Mahn says investors will need to be more selective for the rest of this year and all the way through 2022. Mahn is turning to preferred securities for the income side of portfolios, and looking in biotech, e-commerce and technology for stocks, favoring small- and mid-cap issues which he says are better values. Also ont he show, Tom Lydon of ETFTrends.com makes a homebuilders' specialty fund his ETF of the Week, Ted Rossman of CreditCards.com discusses the growing number of consumers worried about missing credit-card payments in the pandemic, and Sandy Villere talks growth stocks at reasonable prices in the Market Call.

Adrian Helfert, portfolio manager for the Westwood Income Opportunity Fund, says that while investors might be nervous about the economy and the potential for a downturn, they should go along with the market's trends and not fight the central bankers who have been fueling the rebound action since the start of the coronavirus pandemic. He says investors should look beyond the big names that have been driving the recovery to see what opportunities look best next, and suggested that following the central bankers' should include looking for opportunities in Europe and beyond. Also on the show, Jim Tankersley of the New York Times discusses his new book 'The Riches of This Land' about America's middle class, and Chuck answers several questions from audience members.

Mike Larson, senior editor at Weiss Ratings and editor of Weiss' Safe Money Report, says in the Market Call that investors right now seem to be stopping to catch their breath after the market's Covid-19 recovery, waiting to see if there is more than just massive government stimulus propping up the market or is there another leg down ahead. Larson has been advocating sectors that do well in a 'ZIRP Forever' -- zero interest rate policy forever -- environment, meaning yield-oriented investments, precious metals and consumer staples companies. Also on the show, Stephen Kalayjian of Ticker Tocker takes a look at the current technicals, Linda Zhang of SoFi discusses the trend that is seeing so many young and new investors become stock traders during the pandemic, and author Paul Starobin talks about 'A Most Wicked Conspiracy,' his true tale of a nearly forgotten financial swindle from America's gold rush.

Giles Coghlan, chief currency strategist for HYCM, says that the economy will struggle to move forward without a coronavirus vaccine or treatment, but even without the economic boost that will come from solutions, he expects uncertainty and low real interest rates to drive gold significantly higher this year. He suggests investors should avoid buying gold at peaks and should look for pullbacks, which he says will be happening in the midst of gold's climb. Also on the show, Simon Lack of SL Advisors says in the Market Call that the energy sector is really cheap, paying big dividends for investors looking to generate cash flow on the cheap, Kyle Guske of New Constructs talks about a brand-name stock that looks attractive, and Mike Brown of LendEDU discusses consumer complaint levels during pandemic times.

Paul Christopher, head of global market strategy for the Wells Fargo Investment Institute, says that the stock market may be waiting until after a Democratic vice presidential candidate is named before starting to factor current polls into current prices, but he cautioned that even as the market starts to reconnect to the potential voting outcome, investors should be waiting until they see more from candidates before altering portfolios. Instead, he suggests waiting until you know more about taxes, infrastructure spending plans, health care reform and more before altering a portfolio, noting that the likely changes will involve adding to health care and infrastructure plays while backing away from energy and financials. Also on the show, Tom Roseen of Lipper Refinitiv talks about the closed-end fund resurgence since the dismal showing they posted during the February downturn, Giulia Prati of Opinium discusses changing consumer shopping habits and how the impact of the pandemic may liner long after a vaccine is found, and John Johnson of Edgeworth Economics discusses how the pandemic has impacted the numbers used in forecasting and how that is changing the numbers that economists rely on and that consumers should believe.

Neil Hennessy, chairman and chief executive at Hennessy Advisors and the Hennessy Funds, says that the stock market has withstood the global pandemic largely because of the underlying strength in corporate balance sheets and the overall economy. Those underpinnings should help ensure that the market doesn't fall too far on bad news and can shake off most events, unlike past crisis times where weak economics exacerbated societal problems and elevated investors' pain levels. Also on the show, Tom Lydon of ETFTrends.com makes a new health-care fund that highlights the technologies brought forth in the pandemic his 'ETF of the Week,' Matthew Schulz of CompareCards.com discusses how credit-card issuers are cutting back on untapped credit limits and old unused accounts as they tighten up in the pandemic, and James Abate of the Centre Funds talks investing defensively in stocks in the Market Call.

Alan McKnight, chief investment officer at Regions Asset Management, anticipates a sluggish, uneven economy and stock market as the country gets through the coronavirus pandemic into 2021, noting that the big technology names will flatten out a bit and small-cap names will slowly come to the fore as the market rotates into the next growth environment..In a second Big Interview, David Wright, lead portfolio manager for the Sierra Mutual Funds, says he has adopted BCOT -- 'Be careful out there' -- as his mantra for both the pandemic and the current market, and says he is using stops on every position to make sure the market's potential for volatility doesn't take away hard-earned gains made during the rebound. Also, Maggie Craddock, author of 'Lifeboat: Navigating Unexpected Career Change and Disruption' talks about how workers whose jobs have been displaced by the pandemic can turn that disappointment into a new start.

Michael Oh, manager of the Matthew Asia Innovators Fund, says the global pandemic has sped up the consumer revolution in emerging markets, but especially in China, which is making consumer companies and technology stocks look particularly appealing because such a gigantic market is opening and once the consumers adopt the technologies they will continue on with them even after the initial impetus to invest in them has passed, Also on the show, Mary Wisniewski of Bankrate.com talks about changing technology in automated teller machines and how consumers can safely use ATMs in a Covid-19 world, Mike Brown of LendEDU discusses per-capita spending on the lottery around the country -- and reveals that Chuck's home state is where individuals lay out the most money per person on tickets -- and Odeta Kushi of First American talks about the changing housing market and the Home Ownership Progress Index and what it says about how the market of home buyers is shifting.