Money Life with Chuck Jaffe

Dan Zanger of ChartPattern.com said the Standard and Poor's 500 seems headed down to about 2,700 now as it pushes through what he called an 'ABC pattern' that started recently, has gone through the first two steps and is awaiting the third move, which traditionally will be down. Zanegr right now is only 10 percent invested in the market, and he warns that while the market has been in a range, the volatility has been hurting a lot of traders. Also on the show, Sir John Hargrave talks his new book about blockchain and bitcoin, Ken Tumin of DepositAccounts.com says that Americans are losing billions of dollars to misplaced loyalty to their bankers, and Chuck talks about a media-darling investment expert who turned out to be a fake.

Joel Greenblatt of Gotham Asset Management -- arguably the leading light along with Warren Buffett when it comes to value investing -- said that reports that value investing has stopped working are exaggerated and wrong, so long as you have the right definition of value investing. Most investors don't. Yann Cornil of the University of British Columbia talked about something else investors don't do right, namely diversify. James Hickey of H.D. Vest Financial Services said he doesn't expect a recession in the near-term despite headline risks, and Tom Lydon of ETFTrends.com covers a hot trend with a trendy new fund.

Peter Vanderlee of ClearBridge Investments said that between low payout ratios and reasonable rates of growth, investors in dividend-paying stocks should have a positive outlook as they play defense against the slowing economic and market conditions likely to be in place over the next few years. Vanderlee noted that while there has been a flight to safety among investors, they have not bid up dividend-payers to where investors can't get fair values and the occasional bargain. Also on the show, Ray Baraldi and Richard Flahive of HighTower Advisors discussed the processes they believe investors should be following during the 'accumulation phase' of their lifetimes, Matt Schulz of CompareCards.com talked about how many consumers now find back-to-school shopping more stressful and costly than holiday shopping, and Randy Bateman of Balcones Investment Research returned to the Market Call to talk top-down investing and the companies that will benefit from robotics

Justin Hance, director of research for the Oakmark Funds, said that valuations in Europe remain attractive despite slower economic activity and perceived problems there, noting that on a stock-by-stock basis, investors are able to find quality businesses at reasonable prices more easily than in other markets around the globe. Also on the show, Megan Greene of the National Association for Business Economics discussed the group's most recent survey showing when economists believe we will see a recession, Mark Hamrick of Bankrate.com talked about the things many people have felt they can not afford to spend their money on this summer, and Simon Lack of SL Advisors and the American Energy Independence ETF covered energy stocks in the Market Call.

Brandon Nelson, senior portfolio manager at Calamos Investments, said small-cap stocks are the cheapest they've been in many, many years relative to large-caps, noting that investors could win playing them on different levels, as an asset class in general but also making bets on individual securities. He favors technology, health care and consumer-discretionary stocks while mostly avoiding industrial materials, energy and utility issues. Also on the show, Ted Rossman of CreditCards.com talks consumers using cash versus plastic, Sam McBride of NewConstructs.com says that WeWork is an IPO that makes other new-stock follies look almost sane, and we rebroadcast a recent interview with Les Nanberg of Cornerstone Wealth, who -- unlike most experts -- expects to see recession sooner rather than later.

John Kosar, chief market strategist at Asbury Research, said that while the market is stuck between a major support level of roughly 2,800 and resistance at 2,950 on the Standard and Poor's 500, it remains in a bullish trend, which he expects to resume after economic cross-currents like trade wars, the inverted yield curve and slowing global growth are worked out. Also on the show, Tadas Viskanta of AbnormalReturns.com discusses who, if anyone, is trustworthy these days in the world of online financial advice and commentary, and David Snowball of MutualFundObserver.com chats about fund investing in an extended Market Call.

A day after the stock market suffered its worst loss of the year and the Dow Jones Industrial Average fell by 800 points, Chuck hosts Chris Zaccarelli of Independent Advisors Alliance and David Goerz of Strategic Frontier Management for two extended Big Interview sessions. While the pair disagreed on how and whether to use the current decline as a buying opportunity -- with Zaccarelli saying he will buy secondary dips, but not this one and Goerz looking for mispricings to take advantage of -- both expect the market to rebound and be above current levels by year's end. Also on the show, Tom Lydon of ETFTrends.com looks to Europe with his ETF of the Week.

Scott Wren, senior global equity strategist at the Wells Fargo Investment Institute, said that with large-cap stocks near fair value, he doesn't think there is much room for stocks to run over the rest of the year, though he does think they will finish the 2019 up from current levels. With that in mind, Wren suggested that investor play the range-bound market, buying when the Standard and Poor's 500 goes below 2,800 and looking to take profits when the market again reaches new highs and maintains 3,000. Also on the show, Collective Wisdom from HighTower Advisors, Todd Grossman of TalkWalker USA discusses social media marketing campaigns, and Dan Brady of TrendRating.com talks stocks in the Market Call.

Rusty Vanneman, president at CLS Investments, said that despite an outlook for heightened volatility, the stock market looks poised for a 'nice move into year end,' and he warned nervous investors that heading to the sidelines means missing out on the fun. Vanneman noted that while investors are right to be concerned about trade and tariff wars, those situations typically end with a positive resolution, making most of the interim movements little more than market noise. Also on the show, Chuck answers an audience member's question about physical-gold funds, Gina Pogol of AmOne.com talks about consumers' summer spending habits and money needs, and there is a rebroadcast of a July chat with Chris Davis of the Davis Funds.

David Trainer, president of New Constructs, put Netflix stock back in the Danger Zone, noting that the company has overcome troubling analysis that has called for a big decline for a long time, but he said that the stock's underlying circumstances have grown worse as it the share price has defied gravity, and he expects a crash to Earth soon, spurred in part by heightened competition and worrisome spending. Also on the show, Jason Reposa of MyBankTracker.com discusses the billions of dollars Americans are wasting on bank fees, author Carl Frey talks 'The Technology Trap' and changes in the labor market in the modern age of automation, and Mark Travis of Intrepid Capital Management is all about value investing and beaten-up small-cap stocks in the Market Call.