Money Life with Chuck Jaffe

Chuck chats with Jim Garnett of the Institute of Consumer Financial Education about the biggest money mistakes ordinary consumer routinely make, covering credit, savings and other issues. Also on the show, Les Masterson, managing editor of Insurance.com discusses how consumers could save money -- or see insurance premiums rise -- based on some common and also some unusual behaviors, and David Blanchflower of Dartmouth College discusses his book 'Not Working: Where Have All the Good Jobs Gone," plus we revisit a recent interview with Martin Pring of Pring Research discussing the market's technical outlook.

Kathy Bostjancic, chief US financial economist, for Oxford Economics USA, said 'It's an unusual and tenuous time for all central banks,' as they look to cut interest rates at a time when there is not much room for cutting and there is still economic growth. Bostjancic expects the Federal Reserve to cut rates three times by January, and still sees plenty of strength in the economy, which she believes is likely to overcome current challenges to stay strong. Also on the show, Tom Lydon of ETFTrends.com talks about a new, specialized real estate ETF in the 'ETF of the Week,' William Delwiche -- investment strategist at Baird -- talks technical analysis, and author Finn Brunton discusses the 'unknown history' of the last century that has led to the evolution in cryptocurrencies. Don't miss his explanation of how some of the most powerful figures in the crypto revolution now leave cryptocurrencies with links to frozen heads!

Laura Geritz, founder and president at Rondure Global Advisors, said the market and the economy are acting in unusual ways, noting that the disconnect between growth and value is oversized, citing concerns about the actions of central banks in lowering rates even as economic activity seems to be growing and more, but she noted that the market is likely to continue pushing higher because investors seem willing to ignore most concerning trends, at least for now. Also on the show, Jimmy Hausberg and Michael Policar of HighTower Advisors discuss risk tolerance and asset allocation changes in current markets, Paula Fleming of the Better Business Bureaus discusses a new scam centered on travel site Expedia.com, and author Agustin Lebron talks about 'The Laws of Trading."

Brad McMillan, chief investment officer at Commonwealth Financial Network, said that while there is the potential for the market to slow down and a recession to happen, the trouble signs he expects to see before those issues have not come up yet, noting that consumer confidence and job growth both remain strong. Also on the show, Thomas Winmill of the Midas Fund said that foreign central-bank purchases of precious metals have helped to make gold particularly attractive right now. Ted Rossman of CreditCards.com discusses the most popular forms of credit-card rewards, and Chuck tells you when or if you might be getting any money from Equifax over the proposed settlement of its 2017 big data breach.

Paul Eitelman, senior multi-asset investment strategist at Russell Investments, said that investors should gravitate towards value stocks while holding tight to their growth names because the market is at an intriguing point, one where the economy is slowing and CEOs have stopped investing but where there is no meltdown because Federal Reserve and Chinese policymakers are injecting stimulus into the market. If that stimulus is damaged by a protracted, deep trade war, however, Eitelman said the market and economy could turn for the worse quickly. Also on the show, David Trainer puts a highly ranked fund in the Danger Zone, Roger Conrad of Conrad's Utility Investor discusses energy, utility and income stocks, and Chuck takes a listener's questions about credit cards and credit scores.

Niladri Mukherjee, head of portfolio strategy, Merrill Lynch and Bank of America Private Bank, said that fund flows -- rather than investor-sentiment measures -- are showing that individuals are too pessimistic right now, pulling billions from equity funds and moving all that money and more into bond funds at a time when the stock market still has room to run and doesn't have imminent signs of impending trouble. Also on the show, Brian Carberry of Apartment Guide discusses the lengths some workers will go -- or not go -- when it comes to mixing their job and their home life, and Brock Moseley of Miracle Mile Advisors talks ETFs and tactical investing in the Market Call.

Albert Meyer of Bastiat Capital is concerned about trade and tariff wars and with the impact of interest rate cuts, but he noted that this is no time to be listening to the 'doomsayers,' suggesting that investors should not be fearful because while the market is highly priced, it's not in particularly dangerous territory. Also on the show, Karl Mills of Jurika, Mills and Kiefer expressed cautious optimism for the market moving forward, noting that nervous investors should be rebalancing and focusing on their allocations rather than looknig to make wholesale changes to a portfolio. Tom Lydon discussed a classic fund as his 'ETF of the Week,' saying investors should make it a big chunk of their portfolio, and Oliver Browne of Credit Card Insider, talked about misconceptions the average consumer has about credit scores.

Nuveen chief investment strategist Brian Nick said he expects the Federal Reserve to cut rates three times, but said the third cut 'won't be necessary,' and is more like 'mid-cycle insurance' to keep the economy humming along. Still, while he sees no threat of imminent recession, Nick suggested that investors get defensive, worry more about their asset allocation than about tactically deploying money, and spend the next few years thinking about how to squeeze income -- rather than total return -- from their portfolio. Also on the show, Collective Wisdom from HighTower Advisors centers around the use of technology in advisory relationships, Chuck talks about how to overcome the financial hoarding tendencies of the 'greatest generation,' and Adam Levin of CyberScout talks about how Amazon Prime days were prime days for scammers, and how consumers should protect themselves from similar frauds.

In answering a question from a listener, Chuck talks about financial challenges that savers can do to help them get out of debt or budget better, noting that coming up with necessary funds to cover emergencies can be done a dollar or five dollars at a time, or by going through a challenge to set aside an extra dollar every week for a year -- so one buck the first week, two the second and so on -- amassing 1,378 dollars in a year. Also on the show, Adrian Garcia of BankRate.com discusses the best states to retire to, author and financial adviser Anthony Delauney discusses 'Owning the Dash,' and value investor Jack Murphy of Levin Easterly Partners makes his debut in the Market Call.

Rob Sharps, head of investments at T. Rowe Price, said the economy is not as deep into the business cycle as many people believe, leaving more time and room for continued growth, yet with substantial weakness outside of the United States and an unresolved trade war and more, he suggested investors rein in their aggressive tendencies in favor of a more neutral and balanced approach. Alo on the show, Matt Hougan of Bitwise Investments gives his take to President Trump's first statements on cryptocurrencies and Bitcoin, Simeon Hyman, global head of investments at ProShares, discussed the pet care industry, and celebrated Amazon Prime Day by discussing the future of retail stores, and Sam McBride of New Constructs put Verint Systems in the Danger Zone.