Money Life with Chuck Jaffe

Angus Deaton of Princeton University -- winner of the 2015 Nobel Prize for Economics -- discusses rising trends in 'deaths of despair' -- from suicide, overdose and addiction -- and how capitalism must change to stem the tide, but also how the health care system must change coming out of the viral economy to face new and different challenges ahead. Also on the show, Andrew Foster of Seafarer Capital discusses emerging markets and whether coming out of the virus cycle early will create any advantages for them, Jerremy Newsom of Real Life Trading discusses the market's technical indicators, and John Cole Scott of Closed-End Fund Advisors and the Active Investment Company Alliance chats about discounts and offers several attractive options for bargain hunters to consider now.

Darrell Cronk, chief investment officer at Wells Fargo Wealth and Investment Management, said that while the stock market is struggling and not yet showing compelling values, he is confident that a rebound is coming globally and that the United states -- and specifically domestic large-cap growth stocks -- will lead the way for investors looking to climb out of the hole put in their portfolio by the market's recent draw down. Also on the show, Jason Brady, chief executive officer at Thornburg Investment Management , suggests that income and dividend investors will need to be cautious during the recovery because income investments will be changed by and reflect current market conditions for the foreseeable future. Also on the show, Tom Lydon of ETFTrends.com makes an intermediate muni-bond fundtime his ETF of the Week, and Mike Brown of LendEDU.com is back to give an update on his site's survey of consumers' financial reaction to the COVID-19.

Nick Niziolek, co-chief investment officer at Calamos Investments, has been watching how China, Korea and emerging markets are recovering from the coronavirus pandemic, and while he is not expecting a snap-back globally, he calls the progress and the speed of the recovery 'encouraging,' and says he expects to see similar progress domestically as the US moves through the viral cycle. Niziolek notes that the impacts of the virus and the changes it creates int he economy could affect and change the market and specific industries for decades. Also on the show, Francesca Ortegren of Clever Real Estate talks about how the mortgage market changes -- and where consumers stand in their mortgages -- now as compared to the recession of 2008, Chuck answers an audience question about a big dividend-paying stock, and Kathy Boyle of Chapin Hill Advisors talks exchange-traded funds in the Market Call.

Jeff Schulze, investment strategist at ClearBridge Investments, says his company's 'Recession Risk Dashboard' shows that the economy is now fully in recession territory and that it could be the worst recession ever, but he notes that thanks to policy response, it will not become a depression. While he expects recovery to take a little longer than many expect -- just because the market will want to be sure the black swan event of coronavirus has ended before committing to a return to buying -- Schulze says a strong recovery is part of the outlook. Also on the show, Dan Zanger of ChartPattern.com says he's not ready to buy into this market with much conviction, Matt Zajechowski of Digital Third Coast talks taxes and procrastination, and absolute value manager Brian Frank of the resurgent Frank Value Fund talks stocks in the Market Call.

Lindsey Bell, chief investment strategist at Ally Invest, says in the Big Interview that with experts warning about how bad the next few weeks could be from the standpoint of spreading the coronavirus, it leaves investors waiting to see just how deep and how long a resulting recession will be, and what the recovery side of this picture will look like. Despite that cautious talk, Bell notes that when the market drops 30 percent or more, it is presenting a compelling chance to put money to work. Also on the show, Susan Tillery of the American Institute of Certified Public Accountants talks about the emotional impacts of elder fraud, David Trainer of New Constructs warns about exchange-traded funds paying exceptionally high dividends, and Kevin Miller of the E-Valuator Funds talks funds and ETFs in the Market Call.

Jim Welsh, portfolio manager at SmartPortfolios, says that in the standard bear market, there is a 'reflex rally,' which is what he feels the market has been going through for roughly the last week, but that the stock market typically can't hold that rally for long before testing new depths. That's why he believes another significant drop lies ahead -- on that could shave nearly 400 points off the Standard and Poor's 500 -- before the real rally begins. Long-term investors with a five-year or longer horizon should ride the market out, Welsh notes, but short-term monies need to be protected. Also on the show, Robert Michaud from New Frontier Advisors discusses the need to be fully diversified coming through troubling market times, Cheryl Pate of Angel Oak Capital discusses community banking investments in closed-end funds, and Martin Leclerc of Barrack Yard Advisors discusses his disciplined approach to stocks in the Market Call.

Chris Zaccarelli, chief investment officer at the Independent Advisor Alliance, says that the economy and the stock market are poised to improve from current levels -- although he is not yet ready to call the decline a market bottom and won't try to time one -- but he warned that 'better' could be only part way back to 'normal.' He did say the market ultimately will be higher, though he said it's impossible to know if that will happen in a year, two years or further down the road. Also on teh show, Tom Lydon of ETFTrends.com has a choice that could help rebalance risk as his ETF of the Week, Sarah Berger of MagnifyMoney.com discusses the disconnect between retirement savers' hopes and their actions, and Ken Mahoney of Mahoney Asset Management makes his debut in the Market Call.

Ed Shill chief investment officer at QCI Asset Management, says in the Market Call that as the market has moved from overbought in January to dramatically oversold in March, investors should have started looking for opportunities to buy and take small steps to take money off the sidelines and start taking advantage of the bargains. Also on the show, Paula Fleming of the Better Business Bureaus talks about increasingly popular -- and dangerous -- cryptocurrency scams, Bruce Bond of Innovator ETFs discusses defined-outcome investing and how it has held up in the down market, and Mike Brown of LendEDU.com covers Americans' financial condition as they entered the shelter-at-home economy.

Steve Friedman, senior macroeconomist at MacKay Shields, says the global fixed-income picture is such that investors are going to see rates near zero and potentially going negative in the U.S., an unprecedented move that is necessary because 'the economy is coming to a sudden stop,' forcing central bankers to maintain liquidity and income investors to diversify broadly. Before that Big Interview, however, Mark Newton of Newton Advisors says the market's technicals indicate that the market's recent upswing tick is a 'short-term rally within an existing downtrend' meaning another leg down is in the offing, particularly if the market can't rally to and hold 2,792, a key support level on the Standard and Poor's 500. Also on the show, Ted Rossman of CreditCards.com talks about the existing level of credit-card debt faced by Americans entering the coronavirus economy and how that will hold challenges and change behaviors as financial pressures mount, and, in the Market Call, Eric Boughton of Matisse Capital says that closed-end fund discounts are at record levels, making 'nearly everything' a buy for investors who can stomach heightened risks.

Dan Keady, chief financial planner at TIAA, says that while investors are looking at their retirement savings and thinking they have been devastated, the market ultimately will help them catch up and recover, provided they don't try to get off the market rollercoaster mid-ride hoping to escape market risk right now. Also on the show, Mark Hamrick of Bankrate.com discusses survey results on how many Americans have skipped or done without medical care due to its cost, David Trainer of New Constructs puts high-risk dividend stocks in the Danger Zone, and Brian Bollinger of Simply Safe Dividends tries to help listeners find lower-risk payouts from stocks in the Market Call.