Money Life with Chuck Jaffe

Chuck closes out his coverage of #FinCon19 by chatting with five FinCon stars, including Doug Nordman of The-Military-Guide.com, Philip Taylor, the founder of both Fincon and of ptmoney.com, Andy Hill of the Marriage, Money and Kids blog and podcast, Sarah Li-Cain, writer and host at Beyond the Dollar, and Steve Stewart, podcast editor and the community leader of FinCon's Podcast Network.

Chuck is at FinCon 2019, the giant meeting of podcasters, bloggers, writers and other content creators from throughout the personal-finance world. His guests today cover a wide range of subjects and programming. You'll hear from Gwen Merz of Fiery Millenials, Stephanie McCullough of Sofia Financial, Dustin Heiner of MasterPassiveIncome.com, Kent Brown of the Daily Money Show, Australian Paul Benson of Financial Autonomy, Kelly McKillip of Couch Cents, Whitney Hansen of The Money Nerds, and Logan Allec of Money Done Right.

Tom Lydon of ETFTrends.com made the PIMCO 25+ Year Zero Coupon US Treasury Index ETF (ZROZ) his ETF of the Week saying it's that -- despite the inversion in the yield curve -- it's an appropriate investment response to today's common investment concerns, because long-term bonds stabilize a portfolio in low-rate, recessionary environments. Also on the show, author James Pattersenn looks at stocks a young Warren Buffett would buy, Brooklyn Lowery of CardRatings.com discusses credit-card churning, and Joe Saul-Sehy of the Stacking Benjamins podcast helps Chuck prepare for FinCon 2019 by discussing the good, bad and ugly of the podcast world and the blogosphere.

Jim Welsh, macro strategist and portfolio manager at Smart Portfolios, said he expects the market to rally to rpughly 2,950 on the Standard and Poor's 500 ahead of the next Fed meeting, only to have the central bankers issue some sort of disappointing news around a rate cut that puts the market into a short tailspin down to the 2,750 range. From there, Welsh said, expect an oversold bounce that helps to fuel the next rally. Also on the show, author Caitlin Zaloom discusses the lengths parents go to in order to pay for college educations, we rebroadcast an interesting disagreement between Jeremiah Reithmiller and Steve Tresnan of HighTower Advisors on how to use alternative investments in a portfolio, and Michael Robinson of Money Map Press stops by to talk stocks in the Market Call.

Ted Rossman of Bankrate.com said that more than two-thirds of people with credit-card debt are making a financial mistake by trying to maximize credit-card rewards rather than forgoing the bonuses for a card with a lower rate and fewer costs that will help them eliminate debt faster, noting that gaining a few percentage points in cash back or airline miles is not worth the average credit card's 18 percent rate. Also on the show, author Rita McGrath talks about identifying transformative changes in business ahead of the crowd, Noland Langford of Left Brain Capital Management talks stocks in the Market Call, and Chuck answers a question about home-purchase offers you might get in the mail.

Vincent Reinhart, chief economist and macro strategist at Mellon, is not forecasting a recession in the United States but he said that trade uncertainty has been a drag on economic activity worldwide, creating a global recession. Moreover, even when the trade and tariff disputes are resolved, he said things will not be better than before, as it will take time to recover from the damage being caused by the slowdown in trade. Also on the show, Chuck answers a listener's question about an investing strategy espoused by Jim Cramer, Sandy Block of Kiplinger's Personal Finance talks about ways to simplify your finances, and Mike Liss of American Century Value has the Market Call.

Jerry Parker of Chesapeake Capital Corp. -- an original member of the famous Turtle Traders -- said in the Market Call that he'd rather find the most-diversified portfolio than simply trying to find the best stocks, noting that investors need to be taking a defensive posture -- using precious metals, commodities and betting against stocks with short positions -- to be well positioned in today's uncertain markets. Also on the show, author Kendall Rose discussed how step-parents can avoid the financial issues that are often a problem for blended families, financial planner Judith Ward of T. Rowe Price discussed how parents and children fail to communicate on college costs, and Tom Lydon of ETFTrends.com checked in his pick for ETF of the Week, a specialty fund that loves the online retailers and shorts traditional big-box brands.

Brent Wilsey of Wilsey Asset Management said in the Market Call that his form of value investing -- which relies heavily on the PEG ratio -- has seent he number of bonafide investment opportunities shrink as the market has slowed down. He expects the trend to continue, even as he does not expect the market to hit a full-blown recession soon. Also on the show, Richard Flahive and Ray Baraldo if HighTower Advisors, discussing the distribution phase of life, Jean Statler of the Alliance for Lifetime Income on how people need to consider setting up income streams to reduce retirement worries, and Zack Friedman, author of 'The Lemonade Life.'

Brad lamensdorf of the Ranger Equity Bear ETF said that the market has been getting weaker with every correction, recapturing old highs more slowly and showing signs that a real downdraft with longer-lasting results could be on the way, particularly once sentiment turns ugly. He noted that if the Standard and Poor's 500 breaks through current support levels, it would likely fall at least 200 points further. Also on the show, financial adviser and author Ed Butowsky talks about scary financial advisers, Andrew Crowell of D.A. Davidson discusses the real benefits of saving when you are young, and lamensdorf returns to talk stocks in the Market Call.

Andrew Foster of Seafarer Capital Partners said that trade and tariff wars have not stopped growth in emerging markets, but they have exacerbated a slowing trend, particularly in China, that will make developing and emerging markets harder to profit from in the near future. Foster noted that valuations in emerging markets are reasonable, but without growth to help drive the market, investors should expect muted returns from emerging markets for the long-term future. Also on the show, Greg McBride of Bankrate.com talks about how many workers are not increasing their set asides to retirement plans, Sam McBride of NewConstructs.com -- no relation -- discusses a stock that is headed for trouble and Greg Woodard of Manning and Napier covers stocks in the Market Call.