Cambria's Faber: U.S. market is the world's most expensive, and that story ends ugly
Release Date: 10/13/2025
TradeStation's Russell: A.I. boom has masked emerging economic weakness
Money Life with Chuck Jaffe
David Russell, global head of market strategy at , says that as artificial intelligence become less of an economic focus, the market will wake up to potential weakness on Main Street, where "recessionary patterns" are already visible. He is expecting "one of the weaker holiday seasons in a while," and says that a lot of signs that have been viewed as bullish have become much more questionable. He would not be surprised to see the market test October lows — roughly 6,550 on the Standard & Poor's 500 — before year's end. Nate Miles, head of retirement at , discusses the...
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Merrill's Quinlan: Market's 'heck of a ride' will keep going 'up and to the right'
Money Life with Chuck Jaffe
Joe Quinlan, head of market strategy for and , says that the U.S. consumer higher-income households "are in great shape heading into 2026," and so long as the Boomers continue spending, the economy and stock market can roll along. Quinlan says that the economy can avoid a recession if the Federal Reserve can avoid policy mistakes, if the U.S. stays out of a difficult trade war and if the extraneous factors mostly stay at bay. Given what the market has weathered in 2025, Quinlan says there is reason to believe the rally can continue, even if results are muted a bit compared to the equity...
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BlackRock's Chaudhuri: It's not a market downturn, just 'a regular cleaning period'
Money Life with Chuck Jaffe
Gargi Chaudhuri, chief investment and portfolio strategist for the Americas at , says the market's recent action represents "a fairly healthy pullback," the kind of periodic "cleansing" that markets go through, and that the recent action is less based on whether earnings can continue to drive valuations higher than it is on nervousness over the Federal Reserve's next move. Chaudhuri says that the current focus on whether the Fed will cut rates again in December is misplaced, because continued earnings growth, gross domestic product numbers and the fundamentals of the stock...
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Chase Investment's Klintworth sees small correction/buying opp ahead
Money Life with Chuck Jaffe
Buck Klintworth, senior vice president and portfolio manager at , says the market isn't looking like it will make dramatic moves before the end of the year, but he does expect a "small correction." Because he believes that the underpinnings for the economy are solid and forces like the artificial intelligence boom are backstopping the market, he expects that correction to be a buying opportunity for investors. Tani Fukui, senior director for global economic and market strategy for , says she expects the Federal Reserve to follow through with rate cuts — even as the market seemed to waver in...
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Google AI gets about 40% of personal finance questions wrong
Money Life with Chuck Jaffe
Robert Farrington, founder of , , and while that sounds horrible, it actually represents an improvement of six percentage points over the results Farrington got making the same queries a year ago. Farrington notes that the outcomes are only as good as the inputs, meaning that consumers who don't know the right questions to ask will be more poorly served by artificial intelligence than those who know enough to ask solid questions. Catherine Collinson, president of the , discusses "" which showed that U.S. adults earning between $50,000 and $199,999 annually are struggling to stay afloat and get...
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Robinhood's Guild: 'Things are fully discounted at the S&P level'
Money Life with Chuck Jaffe
Stephanie Guild, chief investment officer at , says that the stock market has ridden earnings growth to the record highs it has set this year, but she is worried that with valuations at high levels, earnings growth can't sustain higher price-earnings multiple to push the market up further. Guild notes that Robinhood's customers have changed some of their investment habits as market conditions have evolved in the post-Covid market; they're still buying dips, but more on a single-name basis rather than buying broad markets and riding indexes. Further, Guild says she will be watching investor...
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Schaeffer's Timpane: Bears' 'lost opportunity' should let the market grind higher
Money Life with Chuck Jaffe
Matthew Timpane, senior market strategist at , says the stock market is entering "the most bullish season of the year," and the bears missed the chance for a big pullback once the market got past mid-October. Now he expects the market to grind higher for the rest of the year, but he notes that things may change once the holiday buzz changes and 2026 moves forward. Stuart Katz, chief investment officer at , says that rate cuts will make cash less attractive, which will push a lot of money that has been on the sidelines up the risk spectrum, and he discusses the areas of the bond market that he...
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Teucrium's Gilbertie says tariffs create commodity buying opportunities
Money Life with Chuck Jaffe
Sal Gilbertie, chief executive officer at — which runs several commodity specific ETFs, like the Teucrium Soybean fund — says that while tariffs are being blamed for high prices for goods like coffee, cocoa, beef and more, it's actually the weather and long droughts in certain key growing areas that have steadily increased prices over several years. Still, Gilberties says tariffs have had an undeniable impact, some of it negative — with trading partners losing trust in the United States — some of it positive, because commodities are still moving around world markets. He says that...
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Does the Hindenburg Omen mean the market is due to blow up?
Money Life with Chuck Jaffe
Tom McClellan, editor of , says that market flirting with record highs has masked how many companies are actually reaching new lows, but that condition — when new lows outnumber new highs — is a key part of an indicator called the "Hindenburg Omen," a sign that historically shows up in the charts at market tops. It's been seen on the market four times in the last week, along with a similar indicator called the "Titanic Syndrome." Those are warning signs, McClellan says, but even if the rally continues for a while longer, he's expecting struggles in 2026 before a rebound in 2027. Sam Tombs,...
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Wells Fargo's Wren: Setbacks are buying opps on the road to 7,500 in '26
Money Life with Chuck Jaffe
Scott Wren, senior global market strategist at the , says he wouldn't mind a small market setback or breather to calm the nerves, especially because he's used those kinds of moments this year to add to his equity positions, noting that his target for the Standard & Poor's 500 is 7,500 at the end of 2026, a modest but steady gain for next year. Wren favors financials currently for technical reasons, likes industrials for as long as the next decade, and . Todd Rosenbluth, head of research at changes things up with the ETF of the Week. Rather than focusing on one fund, he looks at ETF...
info_outlineMeb Faber, chief investment officer at the Cambria Funds, says that "extremely high valuations are a weight that's hard to overcome," and that the United States is currently "the most expensive country across the board." He notes that when a country ends the year with a price/earnings ratio above 40, the average future 10-year returns are zero. As a result, Faber is suggesting that investors diversify internationally, consider gold — which her describes as being "like your crazy cousin Eddie" coming to the family holiday party — and more.
David Trainer, founder and president at New Constructs, says that companies can manipulate earnings numbers in ways that keep investors interested, but which make future earnings misses most likely, and he puts those stocks that are likely to miss earnings in "The Danger Zone." Trainer says that 72 members of the Standard & Poor's 500 are currently overstating earnings by 10 percent or more. Trainer singled out NRG Energy, which has street estimates of 35 cents per share, but which he says is more likely to generate 6 cents per share in profits.
Chip Lupo discusses the 2025 Early Holiday Shopping Survey from WalletHub, which showed that nearly half of American consumers aren't waiting for Halloween to start their holiday shopping, but rather they will begin this month (if they haven't started already).