Money Life with Chuck Jaffe

Omar Aguilar of Charles Schwab Investment Management joins Chuck to talk about BeFi 2019, a new behavioral-finance study which shows that focusing on recent events, being too adverse to losses and more can wreck solid financial plans. Also, Scott Lynn of Masterworks discusses investing in fine art in ways not possible until recently, Sam McBride of New Constructs puts another popular IPO in the Danger Zone, and Chuck revisits a recent interview with Noland Langford of Left Brain Capital Management.

Neil Hennessy, founder of the Hennessy Funds says the Dow Jones Industrial Average is going to 30,000 'before we have any worries,' making the case that the market is well-positioned to continue its long run of growth with only minimal disruptions. Jurrien Timmer, head of global macro at Fidelity, meanwhile, is focused on those disruptions and the yellow warning signs in the form of the inverted yield curve, money supply growth, the Federal Reserve and trade wars, but he made it clear that 'This is a market I don't want to bet against,' noting that Dow 30,000 could be a 2020 story. Also on the show, Chuck takes a question about investing in Estonia, and Doug Roberts of Channel Capital Research discusses the fallout and next moves from this week's Fed moves.

Josef Schuster, founder of IPOX Schuster -- which tracks the market for initial-public offerings -- said that the IPO market in 2019 has held up, with start-up numbers generally being similar to a year ago and then pushed beyond those levels thanks to the debut of Uber. Also on the show, Tom Lydon of ETFTrends.com discusses palladium with his ETF of the Week, John Sweeney of Figure Technologies chats about how much money Americans are overpaying -- more than $100 billion -- by not playing interest rates properly, and value manager Michael Campagna or Moerus Capital talks stocks around the world in the Market Call.

Allan Sloan, award-winning business columnist for the Washington Post, said that while interest-rate cuts are being talked about as good for the market and the economy, there are long-term negative impacts to protracted periods of low rates, affecting pension plans, Also on the show, Giorgio Caputo of J.O. Hambro Capital Management says that the Federal Reserve is 'helicopter parenting' the market, and it can't protect the public from all evils, Jake Falcon and Joseph Klein from HighTower Advisors discuss the things beyond trade wars that top their current list of concerns, and Dan Mahr of Federated Investors talks quantitative stock investing in the Market Call.

Greg McBride, chief financial analyst at Bankrate.com, said that the Federal Reserve will cut rates again at its meeting that starts today, but he noted that savers who have been doing reasonably well now need to expect to lose ground and consumers who have debts need to aggressively pay them down before there is any long-term bounce back in rates, something he says will happen the next time rates rise. Also on the show, Lou Harvey from DALBAR Inc. discusses a strategy that should help investors stay put, literally, in the next market downturn, and Bill Hench of the Royce Funds talks small- and micro-cap stocks in the Market Call.

David Wright, lead portfolio manager for the Sierra Funds, said that the market has mixed fundamentals and technicals that individually might scare investors but that ultimately are no cause for worry in the short run, because they aren't pointing to a recession in the near-term. That said, he did discuss taking a defensive posture for the current markets, using preferred-stock mutual funds and municipal-bond funds as safe haven that should produce above-average income going forward. Also on the show, author Liz Frazier discusses her new book on teaching kids about money, 'Beyond Piggy Banks and Lemonade Stands,' Sam McBride of New Constructs puts all new initial public offerings in 'the Danger Zone' and we rebroadcast a recent chat with Andrew Foster of Seafarer Capital Management.

Eddy Vataru, portfolio manager for Osterweis Total Return Fund, said that while the market is pricing in the high probability of a recession, he thinks it has been too aggressive and that there won't be a protracted economic slowdown in the near future. He noted that the inverted yield curve may be less of an indicator than in the past because rates currently are so low, which was not the case with past inversions. Also on the show, technical analyst Michael Sincere said the market is in a trend-less trend, with limited upside, some good potential moves to the downside but a rising trend that he doesn't want to fight. It has him mostly on the sidelines now, figuring there will be a clearer trend after the next Federal Reserve meeting. In the Market Call, Aash Shah of Summit Global Investments talked low-volatility stocks, and Chuck also answered an audience question about the value of frequent-flyer miles.

Tom Lydon, editor at ETFTrends.com, said that with interest rates going down andcentral bankers working to manage inflation, many investors should be looking towards gold, both for its traditional role as an inflation hedge but also because it can turbocharge results. He made GOAU, the US Global GO GOLD and Precious Metals Miners ETF his 'ETF of the Week,' noting that the fund has shot up but that the market gives it room for even more growth. Also on the show, author Michael B. Horn talks about keeping perspective while making appropriate college choices, Jill Gonzalez of WalletHub.com covers a survey on how consumers expect to spend less on their cell phones, even with the new iPhone coming out, and Tom McIntyre of McIntyre, Freedman and Flynn mixes news and fundamentals as he talks stocks in the Market Call.

Ed Cofrancesco of International Assets Advisory said in the Big Interview that it's a sideways market with factors that could push it significantly out of the range it has traded in towards new highs or recent lows, but that investors should not be over-reacting to news and to headline risk. Cofrancesco said he ultimately expects the market to move higher once a trade deal is agreed upon with China. Also on the show, Jake Falcon and Joseph Klein of HighTower Advisors discuss how the ongoing trade war with China is trickling down into their thinking and planning on behalf of their clients, Chuck takes an audience question about his personal portfolio, and Chris Retzler from the Needham Small-Cap Growth Fund has the Market Call.

Lorna Kapusta, head of women and investing at Fidelity Investments, said that recent research by her firm showed that more than half of women keep nearly all of their savings in cash or bank accounts, compared to about 30 percent of men. Those staggering numbers show why it is hard to anyone to grow their savings into an appropriate retirement nest egg. Also on the show, author Dana Look-Arimoto talks about smart settling, Jill Gonzalez of WalletHub.com discusses the site's latest research and we rebroadcast a recent chat with leading value investor Joel Greenblatt of Gotham Asset Management.