Money Life with Chuck Jaffe
1,656 episodes - English - Latest episode: 1 day ago - ★★★★ - 106 ratingsMoney Life with Chuck Jaffe is leading the way in business and financial radio. The Money Life Podcast is a daily personal finance talk show, Monday through Friday sorting through the financial clutter every day to bring you the information you need to lead the MoneyLife.
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Episodes
Vivaris' Mizer: Alternatives can calm, smooth nervous portfolios now
May 03, 2023 14:13 - 58 minutes - 80.9 MBChristopher Mizer, founder of Vivaris Capital, says that alternatives were in a hot spot a year ago -- when stocks were 'frightfully overvalued' -- and investors needed investments that had building cash flows and organic growth potential, but now with the market valued more reasonably, the role that alternatives are playing is to reduce long-term volatility and to offer a steadiness that the market doesn't seem to have right now. He discusses climate technology and other alternative investm...
Hi Mount's Delwiche: Technicals showing opportunity internationally now
May 02, 2023 14:39 - 59 minutes - 82.2 MBWillie Delwiche, investment strategist at Hi Mount Research, says that with the domestic stock market showing more stocks making new lows than highs, the U.S. market is increasingly challenged. Witht hat in mind, Delwiche says investors should be looking overseas because 'the rest of the world increasingly looks like it is in an uptrend and poised to continue making new highs.' Also on the show, in 'Find Me the Money,' forensic accountant Tracy Coenen discusses financial infidelity and how a...
New Constructs' Trainer adds one to his 'zombie stock' list
May 01, 2023 14:11 - 1 hour - 83.6 MBDavid Trainer, founder and president at New Constructs, makes pet-insurer Trulanuon the 33rd member of his firm’s list of ‘zombie stocks,’ nothing that the company still has a long runway — nearly two years before he expects it to be bankruptcy — but almost no hope. Chuck discusses real expertise and the importance of vetting experts at a time when most news and information sources are looking to fill space. Plus Craig Martin discusses the latest research from J.D. Power showing how unhappy ...
Vanguard's Dickson: For most investors, 60-40 remains the answer
April 28, 2023 14:09 - 1 hour - 120 MBIt's the third and final day of interviews from the Morningstar Investment Conference in Chicago, and Joel Dickson, global head of advice methodology at Vanguard, carries the dicussion on the classic 60-40 portfolio further -- rivaling Catherine LeGraw from GMO who you heard on Thursday's show -- saying that the classic stock-bonds mix remains the most simple, straightforward, cost-effective solution for investors who can ride out the bumps and bruises along the way. But he's the closer on ...
GMO’s LeGraw: 60-40, ‘set-and-forget’ is dead
April 27, 2023 14:15 - 1 hour - 128 MBIt's Day Two of Money Life at Morningstar, featuring interviews from the Morningstar Investment Conference in Chicago. One of the themes of this year’s event has been the rise and fall and rebirth of 60-40 portfolios and Catherine LeGraw, partner at GMO, takes the side that the default allocation is too blunt to work for everyone, leaving them with too much risk which ultimately short-circuits their ability to reach their goals. Also on this show, Steve Romick of the FPA Crescent fund, Morni...
Schwab's Sonders: 'Recession is a great cure for an inflation problem'
April 26, 2023 15:48 - 1 hour - 116 MBIt's Money Life at Morningstar, the first of three days of interviews from the Morningstar Investment Conference in Chicago. Liz Ann Sonders, chief investment strategist at Charles Schwab and Co., says that the market appears to be banking on a near-term recession, in which it takes the pain and the ill-tasting medicine, thereby allowing the Federal Reserve to take its foot off the economic brake. As a result, a recession sooner rather than later would be helpful for the economy. She kicks o...
Freedom ETF's Tolle: Liberty can play a role in profitability
April 26, 2023 15:41 - 1 hour - 89.1 MBPerth Tolle, founder of Life and Liberty Indexes -- the basis for the Freedom 100 Emerging Markets ETF -- says that companies based in countries run by autocrats are held back in many different ways, not the least of which is that they must compete for the favor of the government and the people in power, rather than being able to focus on serving the market and customers, and that investors who want to avoid much of the headline-making geopolitical risk present globally today from creeping i...
ProShares' Hyman: Dividend growers are key to solving an inflationary environment
April 24, 2023 12:00 - 1 hour - 85.5 MBSimeon Hyman, global investment strategist at ProShares, says that investors are tempted in today's high-inflation environment to pursue stocks with high-but-fixed dividends, trying to generate any sort of positive real return. Instead, Hyman says investors should be looking for dividend growers -- companies consistently raising payouts -- rather than high current yields, because a stock with a dividend that's not growing 'is basically a fixed-coupon bond, and that's the worst thing to have ...
Research Affiliates' Nguyen: Recession looms but investors have less to fear
April 21, 2023 13:22 - 59 minutes - 81.6 MBQue Nguyen, chief investment officer of equity strategies at Research Affiliates, says that the high probability of an upcoming recession is being priced into the market, and the more a downturn gets priced into stocks, the less investors have to fear because the damage is being done in advance. As a result, she says investors need to be looking for the inflection point where they want to buy in to get ahead of a recovery, even if that means digging in and holding for as much as three years ...
BNY Mellon's Jolly: Credit crunch will create hard landing but fast recovery
April 20, 2023 14:27 - 58 minutes - 80.1 MBJake Jolly, head of investment analysis at BNY Mellon Investment Management, says that recent turmoil in the banking industry 'will do the additional work' of tightening credit conditions to get inflation down, but creating a recession in the process, with the downturn taking hold late this year or in 2024. Because this recession is 'a typical, monetary-policy induced recession,' Jolly expects that policy can normalize quickly, which should limit the downturn to the short time it takes to s...
Sierra's St. Aubin: 'I don't think you can rule out a significant downturn'
April 19, 2023 13:45 - 58 minutes - 80.6 MBJames St. Aubin, chief investment officer at Sierra Investment Management, says that we are looking at 'unusually uncertain times given what the market is trying to process right now,' specifically how the increased cost of credit and the decreased availability of credit will work its way through the economy. St. Aubin -- who uses a quantitative, tactical approach -- says the market could go in any direction from here, but he notes that there is more downside risk here even though the econom...
Zuma Wealth's Spath: Foreign stocks will help you ride through mild recession
April 18, 2023 14:23 - 1 hour - 82.9 MBTerri Spath, chief investment officer at Zuma Wealth, says that investors should be looking for ways to play a slowing economy and a light recession, and she says that international stocks are likely to outperform U.S. stocks while that plays out. She also is adding to domestic fixed-income exposure with both Treasuries and high-yield corporates, noting that the latter is an asset class she would not have touched as recently as last year. The show also debuts a new regular feature called 'Fi...
Market's 'worst six months' in '23 won't include recession
April 17, 2023 14:26 - 59 minutes - 81.6 MBJeffrey Hirsch, editor-in-chief of the Stock Traders’ Almanac, discusses 'calendar effects' -- the traditional 'Sell in May and go away; buy in October to get yourself sober' strategy that may not kick in this year until as late as June, but which should involve avoiding the worst of the year and a lot of market softness but no recession. Hirsch notes that since World War II the market has made most of its gains between October and April and this year is no exception, which will leave the ma...
Edward Jones' Mahajan: Mild recession ahead; equally mild recovery to follow
April 14, 2023 14:22 - 59 minutes - 82.1 MBMona Mahajan, senior investment strategist at Edward Jones, says that the economy is headed for a mild recession likely to hit home during the second half of 2023, but she notes that last year's big drop in the stock market did a lot of work to the downside, and while the market's hot start to this year means there is room for more back-sliding, she thinks those declines are mostly buying opportunities for the recovery that will follow the recession. Mahajan isn't expecting a blockbuster bou...
Allspring's de Silva: The big opportunity now is betting against stocks
April 13, 2023 13:25 - 59 minutes - 81.7 MBHarin De Silva, manager of the Allspring U.S. Long/Short Equity, says that there are a lot of companies 'priced for perfection in a slowing economy in a slowing global business cycle,' creating a big opportunity for investors who are shorting stocks, betting that they will fall in price. De Silva says that the long side of his job -- finding stocks to buy -- is challenging, and he notes that his biggest concerns right now are wildcard risks like the banking crisis, war and more. De Silva exp...
ICON's Callahan: Don't expect a market breakout -- or a plunge -- now
April 12, 2023 14:46 - 59 minutes - 82.4 MBCraig Callahan, chief executive officer at ICON Advisers, says that the stock market is close to its fair value right now, but that 'the expensive industries the way we measure value are leading and the bargains are lagging and very sluggish,' a situation that is unsustainable and that will lead to volatile, choppy, sideways markets for the next few months. Callahan says he is holding more cash than normal but he expects to be fully invested by the fall of 2023, when he expects the market to...
Stack Financial's Johnson: Bear-market lows haven't been met yet
April 11, 2023 12:52 - 1 hour - 83 MBZach Jonson, senior portfolio manager at Stack Financial Management, says there are 'so many different headwinds' facing the market that 'we feel we're not quite through this yet.' He says that macro-level indicators are suggesting that the market will either re-test prior lows or set new ones, noting that current conditions suggest that there are enough positive indicators that investors should 'sit on your hands' and stand pat while watching the technicals play out. Also on the show, Marty...
Janney's Luschini: The coming recession will be mild and brief
April 10, 2023 13:29 - 1 hour - 83.4 MBMark Luschini, chief investment strategist for Janney Montgomery Scott, says the market's wild swings after its hot start are the kind of action investors will have to put up with until the market sees inflation start to give way and confidence grows that the Federal reserve has made real progress. That said, he expects a recession this year but notes that the economy is lacking the conditions that typically make a downturn deep and protracted so he believes it will be mild and brief before ...
Schutte expects solid recovery after mild recession
April 06, 2023 14:34 - 58 minutes - 80.9 MBBrent Schutte, chief investment officer at Northwestern Mutual Wealth Management Co. says investors should minimize portfolio moves — mostly to place a slightly greater emphasis on bonds — as they won’t be waiting long to see a mild recession lead to a reasonably robust recovery. Schutte expects small-cap companies and international investments to be among the leading group, with large stocks suffering during the decline Also on the show, Tom Rieman, head of wealth solutions at J.D. Power, ...
Via Nova's Gayle: The bond market is 'getting closer to normal'
April 05, 2023 13:26 - 1 hour - 88.2 MBAlan Gayle, president of ViaNova Investment Management, says that positive economic fundamentals are being tempered and offset by higher inflation and interest rates, giving investors a laundry list of concerns over growth and the stock market, but he notes that the bond market is looking more like its old self than it has in years, giving investors asset allocation choices that will help them ride out the brewing economic storm. Also on the show, Everett Millman, precious metals specialist ...
Cresset's Ablin: With recession/earnings decline ahead, go international
April 04, 2023 13:59 - 59 minutes - 82.3 MBJack Ablin, chief investment officer at Cresset Capital Management, says a mild recession is coming, and he is diversifying internationally as part of his moves to deal with it, noting that international markets not only have valuation advantages against their U.S. counterparts, but as a currency play, noting that a rally in the yen or the Euro would create a tailwind for investors. In The Book Interview, Marc Lichtenfeld, chief income strategist of The Oxford Club and author of 'Get Rich Wi...
3EDGE's Folts: We're cautious, playing defense with real assets, TIPS and more
April 03, 2023 13:12 - 1 hour - 84.3 MBFritz Folts, chief investment strategist at 3EDGE Asset Management, says he is doubtful that the market's current rally can go on for too much longer, and when he sees profit levels decline it will be time to lighten up on equities and buckle up for a recession and downturn. In The Big Interview, he says the firm is diversifying and nimble, with real assets, TIPs and other fixed-income securities providing ballast to a portfolio that includes a lot of international exposure to balance out do...
DeCarley's Garner sees stock and bond gains ahead as investors' FOMO kicks in
March 31, 2023 14:04 - 1 hour - 85.1 MBCarley Garner, senior commodity strategist at DeCarley Trading, says that 'people are way underallocated,' nervously sitting in cash and Treasuries while waiting for market troubles to play out, but when those investors get FOMO -- a fear of missing out -- and the money starts flowing back into investments, it will lift both the stock and bond markets. DeGarner expects a big comeback in 60-40 portfolios this year and says that several commodities markets are now trading at levels that presen...
Invesco's Levitt: Significant policy tightening always ends 'in an accident'
March 30, 2023 15:51 - 59 minutes - 82.4 MBBrian Levitt, global market strategist at Invesco, says the current troubles with the banking industry and the market's struggles with inflation are setting the stage for a new cycle, noting that if inflation comes down and the Fed backs away from its stance it typically will improve conditions for investors. Levitt notes that investors are wondering whether the current situation looks like the 1990s -- when a downturn represented a great opportunity -- or like the 2008 financial crisis, wh...
Whitney Tilson: Grind it out, hold on and avoid 'the crazy nonsense'
March 29, 2023 12:51 - 59 minutes - 81.3 MBWhitney Tilson, chief executive officer at Empire Financial Research, says that while headlines are driving investors to distraction, the stock market right now is neither too hot nor too cold. Other than regional banks, he says there's no blood in the streets, the market 'isn't screaming cheap or hugely overvalued either,' making this a time for investors to grind it out and work on their holding, rather than buying or selling. 'The key,' he says, 'is not in picking the next calamity, but a...
Franklin Templeton's Dover: Time to be conservative, balanced
March 28, 2023 14:48 - 57 minutes - 78.6 MBSteven Dover, chief market strategist at Franklin Templeton and head of the Franklin Templeton Institute, expects a modest recession where investors can benefit from riding it out with a greater exposure to fixed income and a more-balanced portfolio, but he also notes that there are plenty of worrisome wildcards that could impact the market and economy. Adam Turnquist, chief technical strategist at LPL Financial, says the market is going through 'a bottoming process,' but needs more confirma...
AAII's Rotblut: Persistent pessimism like never before
March 27, 2023 14:15 - 59 minutes - 82 MBCharles Rotblut, editor of AAII Journal, says the last 15 months have shown a persistent lack of bullish sentiment, with roughly 20 of the 70 lowest readings ever for optimism in the American Association of Individual Investors sentiment survey, a weekly poll that dates back to 1987. Likewise, bearishness has been near record levels consistently. Rotblut notes that the survey did not show this kind of consistent high-pessimism/low-bullishness sentiment during the global financial crisis, the...
Technical analyst McClellan: 'We're in for a long period of economic trouble'
March 24, 2023 14:16 - 1 hour - 85.5 MBTom McClellan, editor of The McClellan Market Report, says that the market is just starting a whole lot of market pain that will continue into 2026 before reaching a real bottom and the start of another long-term buying opportunity. McClellan says there will be great trading opportunities within the downturn -- including the month of April -- but emphasized that the economy has a lot to digest before real recovery begins. Jose Torres, senior economist at Interactive Brokers, expects a recess...
BankRate's McBride says the Fed's rate-hike message was muddy
March 23, 2023 14:41 - 57 minutes - 79.8 MBGreg McBride, chief financial analyst at BankRate.com, says that the Federal Reserve made it clear on Wednesday that it still needs to fight to get the Fed Funds rate above the rate of inflation to put the brakes on the economy, and while the Fed seemed to hint that it would only hike rates one more time this year, it's entirely possible that there will be more increases. What there won't be are rate cuts; McBride sizes up what it all means for consumers in The Big Interview. Tom Lydon, vice...
HYCM's Coghlan: U.S. banking woes are creating global trouble
March 22, 2023 13:05 - 1 hour - 82.8 MBGiles Coghlan, chief market analyst at HYCM, says that the financial concerns springing from the current bank concerns are building a currency and economic crises for the rest of the world, noting that the situation has changed interest-rate expectations for central banks around the globe. He expects the Federal Reserve to follow the path set by the ECB -- Europe's central bank -- moderating expectations and hinting at rate cuts starting late this year, triggering significant market volatili...
Banking scare has scared investors suffering from '2008-itis'
March 21, 2023 10:49 - 1 hour - 83.3 MBJack Janasiewicz, portfolio strategist for Natixis Investment Managers, says that the stock market's current issues around the collapse of Silicon Valley Bank and others has investors revisiting their feelings and emotions from the financial crisis of 2008. This '2008-itis' is leading them to act scared at a time when they should instead be doing a temperature check to decide if their asset allocation is appropriate for what lies ahead, which Janasiewicz sees as a mild recession later this y...
Stifel's Bannister: 'Inflation’s not going back to the old lows’
March 20, 2023 13:27 - 59 minutes - 81.7 MBBarry Bannister, chief equity strategist at Stifel, says he expects the stock market to end up in a ‘flattish trading range for 10 years, similar from 2000 to 2012,' but makes it clear that outcome is not going to be the fallout of current events in the banking industry but rather is the result of long-standing economic trends. Katie Reichart, director of equity strategies manager research at Morningstar, goes 'Off The News' discussing the impact that the collapse of Silicon Valley Bank has ...
Sit Funds' Doty on banking crisis: 'This is NOT a default problem'
March 17, 2023 14:55 - 1 hour - 82.9 MBBryce Doty, senior portfolio manager at Sit Investment Associates says that the problem at the heart of the current banking crisis is the speed that the Federal Reserve raised interest rates, noting that it was nearly impossible for bankers to adjust their portfolios to absorb bond losses driven by those higher rates. Now, Doty says, the Fed may need to take steps to help inject liquidity back into the market -- even if that stops the progress made on inflation -- to give institutions a brea...
Dreyfus-Mellon's Reinhart: Expect a 'modest, contained crimp on economic activity'
March 16, 2023 13:56 - 58 minutes - 80.9 MBVincent Reinhart, chief economist and macro strategist at Dreyfus-Mellon, says that for all of the concerns investors have about the economy -- fears that have been heightened due to headlines about bank collapses -- economic activity remains strong and is likely to stay that way for much of the time the Federal Reserve is trying to curb inflation. Also on the show, Tom Lydon of VettaFi looks at a banking fund that has been buffeted by current events as an exemplar for trend-following with ...
MFS' Weisman: So far, the market has 'overreacted' to banking troubles
March 15, 2023 13:07 - 59 minutes - 82.1 MBErik Weisman, chief economist at MFS Investments, says that the market has overreacted to the collapse of Silicon Valley Bank, pricing in the start of Federal Reserve rate cuts -- rather than the hikes it had been expecting -- as if the problems with the troubled bank was systemic and likely to take down a lot of institutions. While acknowledging that the situation muddies the outlook, Weisman says that he doesn't think history will remember the bank's collapse as the thing 'that precipitate...
AAM's LLoyd: 'Buy and hold is going to be more problematic'
March 14, 2023 13:07 - 59 minutes - 82.4 MBMatt Lloyd, chief investment strategist at Advisors Asset Management, says that investors should expect lower long-term returns over the next decade, with buy-and-hold strategies struggling more than in the past, with the change largely caused by shortened cycles in various sectors of the market that force investors to be more selective and to tilt portfolios based more on the shifts driven by economic activity. Lloyd says while he believes value investing will carry the day, his primary foc...
T. Rowe Price's Uruci: Recession's not imminent, but it's highly likely
March 13, 2023 14:45 - 1 hour - 82.8 MBBlerina Uruci, chief US economist at T. Rowe Price, says the outlook for the economy is 'very, very challenging for 2023,' but the economic numbers are strong enough to keep momentum rolling but slowing for much of the year. She says the probability of a recession in the next 12 months is 'above 50 percent, and significantly so,' but the timing of when that happens depends mostly on the actions of the Federal Reserve, noting that if the Fed resumes larger rate hikes, it likely draws forward ...
Commonwealth's McMillan: Downside risks are priced in, the next move is up
March 10, 2023 15:24 - 59 minutes - 82.5 MBBrad McMillan, chief investment officer for Commonwealth Financial Network, says that most of the damage to the stock market caused by rising interest rates has been done, and that downside risk to valuations has been priced in, leaving the market in a situation where 'We don't need to have a lot of good news to end up with a good year.' McMillan expects the market to end the year on a positive note, although he expects the story to be high volatility throughout as investors digest interest ...
Channel Capital's Roberts: In volatile times, the market is discounting the Fed
March 09, 2023 14:04 - 1 hour - 82.9 MBDoug Roberts, chief investment strategist at Channel Capital Research -- best known for his book on following the Fed to investment success -- says that investors are terrified that the Federal Reserve will overshoot on its strategy and throw the economy into a deep recession, but they have largely discounted the central bank's recent and current actions while they wait to see whether Chairman Jerome Powell decide just when a pivot can occur that drops interest rates and pushes inflation low...
How Suze, Dave and other experts steer you to a lifetime of wrong
March 08, 2023 15:28 - 58 minutes - 80.7 MBJames Choi, a professor of finance at Yale University, discusses his recent study on 'Popular Personal Financial Advice versus the Professors' -- which examines the recommendations of personalities like Suze Orman and Dave Ramsey compared to the standards of economists - -and discusses how the standard advice of saving 10 percent (or as much as possible) of your income from the beginnings of your working life leads to more times of struggle and no less in assets come retirement compared to s...
Fidelity's Timmer: Expect earnings, recession turning points in the next year
March 07, 2023 14:08 - 59 minutes - 81.5 MBJurrien Timmer, director of global macro at Fidelity Investments says that the market has rallied this year on the hopes of a pivot from the FederalReserve, but the strong economic results have pushed the prospect of a Fed change in policy have moved farther out. Now, he says, the market is looking at 'an inflection point for earnings,' and he notes that current conditions have historically lead to a recession, which he sees as coming next year though he acknowledges it may not be a deep, lo...
NDR's Clissold: Market low is not in, but could come without recession
March 06, 2023 14:32 - 57 minutes - 78.6 MBEd Clissold, chief US strategist at Ned Davis Research, says that the stock market has never bottomed before the start of a recession, so if the current downturn doesn't rise to that level yet but you think it will, then the bottom has not been reached. The market, historically, peaks about six months before a recession, and it appears to be climbing to that peak and perhaps holding it longer than normal. It mean, he said, that there is likely a rally that ends in trouble later this year. Me...
Talon Advisors' Grimes: Expect record highs before a 'rip-roaring bear market'
March 03, 2023 14:12 - 1 hour - 83.7 MBAdam Grimes, president of Talon Advisors, says investors have good reason to be defensive right now because while he sees strong potential for the market to make new highs in the next six months to the end of the year, only to then embark on a deep bear market. He says 'you have to approach this market by being bullish and bearish at the same time.' In The NAVigator segment, Jay Rhame, chief executive officer at Reaves Asset Management -- president of the Reaves Utility Income Fund says that...
Tocqueville's Petrides: Buy the dips, we're close to the economic bottom
March 02, 2023 15:53 - 1 hour - 84.6 MBJohn Petrides, portfolio manager at Tocqueville Asset Management, says that the stock market has come back around to a good time for investors to buy the dips, largely because the market's decline last year did 'so much of the heavy lifting' to put stocks in a better buying position. While Petrides expects continued earnings contraction, he says 'We're probably closer to the bottom than we were at this time last year.' Also on the show, Tom Lydon, vice chairman at VettaFi picks a precious me...
Martin Currie's Osmani sees sharp global slowdown, but no recession
March 01, 2023 14:36 - 59 minutes - 82.5 MBZed Osmani, portfolio manager for the Martin Currie Global Portfolio Trust, says the domestic and global economies could avoid a recession this year, although he sees a 65 to 70 percent chance of a sharp slowdown instead. Osmani says the key word for the year is 'pivot,' the centerpiece of a 'healthy bull-bear debate' about whether central banks will pivot in 2023 and how fast they will pivot; the result of that back-and-forth will be heightened volatility and a tough outcome to predict. Ted...
Lowry Research's Kahn: Now is the time to focus on the strongest names
February 28, 2023 14:52 - 59 minutes - 81.9 MBMichael Kahn, senior market analyst at Lowry Research Corp., says that the technical indicators that the market peaked several weeks, 'screaming overbought, screaming this is not the time to be buying if you are not going to be holding forever,' which has the market in a short-term downturn even as the long-term outlook is positive. He notes that in times like these with conflicting signals, investors can nibble and be selective buyers, but they want to stick to the best names with positive ...
Nationwide's Bostjancic: The risk of a hard landing just increased
February 27, 2023 15:02 - 59 minutes - 82.1 MBKathy Bostjancic, chief economist at Nationwide, says in The Big Interview that the economic data showing that both the economy and inflation are running hotter than expected is going to force the Federal reserve to make some moves that are more likely to trigger not just a recession but a harder landing for the economy. Bostjancic says the Fed has plenty of reason to keep tightening and the markets are starting to price in a bigger rate hike for the March meeting; if February economic data ...
Macro strategist Welsh: Market is on the edge of its next significant decline
February 24, 2023 14:41 - 58 minutes - 81.2 MBJim Welsh, portfolio manager at Smart Portfolios and editor of the MacroTides newsletter, says that the next downturn is being set up by recent moves that have bolstered confidence and lulled investors into feeling good. When the market turns, closer to mid-year, Welsh thinks the disappointment of those investors will make the market more vulnerable to 'a significant decline,' which he believes will take the Standard and Poor's 500 down to the 3,500 level, with a hard-landing economy putting...
Oakmark's Nygren: An 'unusual' recession won't change what works in the market
February 23, 2023 15:27 - 59 minutes - 82.7 MBLegendary mutual fund manager Bill Nygren of the Oakmark Fund, says that any recession would be an unusual one because there has never been such a weak economic environment with such strong labor and other key conditions. That makes it that auto stocks, consumer lending companies and other businesses that typically suffer in a recession could actually perform well. Nygren emphasizes that despite changing conditions, buying high-quality, cash-generating businesses at reasonable prices continu...
Lamensdorf: The current rally will end with a 20 percent correction
February 22, 2023 14:27 - 57 minutes - 78.8 MBBrad Lamensdorf, strategist at The Lamensdorf Market Timing Report and chief executive at Active Alts, says the market is 'very, very extended' and is poised for a 20 percent correction that he expects to hit in the second quarter, driving the Standard and Poor's 500 below 3,500 before any real recovery can begin. Lamensdorf says the decline he expects will not be the result of a recession, because he believes the economy may be able to sidestep that kind of growth slowdown but stocks can't,...