Money Life with Chuck Jaffe
Veteran financial journalist Chuck Jaffe taps into the big thinkers, power brokers and market movers on what's happening with the market and economy, with an eye toward where, how and why to invest. Plus personal finance content to cut through the clutter and improve your life.
info_outline
Significance's Isherwood: 'This is more a time correction than a price correction'
04/02/2026
Significance's Isherwood: 'This is more a time correction than a price correction'
Ryan Isherwood, chief investment officer at , says that the stock market's momentum has not been broken even as it backed away from recent record highs, which means that stocks have been correcting since last October. That makes it more of a time correction — which can last longer — than a short, steep price drop. That said, Isherwood noted that there are strong signs that the market could resume its long-term upward trend and bullish bias once the geo-political pullback ends as there is more clarity in the headlines. Yelena Maleyev, senior economist at , discusses the from the National Association for Business Economics, released today, which showed that the consensus forecast among economists has deteriorated sharply in the last few weeks, with two-thirds of the group expecting a reduction of GDP this year, and in many cases that economic activity slowdown will be big, but will stop short of recession conditions. Nearly 70% of the economists said the broadening of geopolitical conflicts is the "greatest downside risk to the economy over the next 12 months;" just 8% felt that way about geopolitical worries just three months ago. Todd Rosenbluth, head of research at , turns to a diversified natural resources index fund as his "ETF of the Week," noting that a multi-sector approach involving upstream energy companies, agricultural companies and more can be a good diversifier — while providing a decent yield — in current conditions. Plus Matt Weyandt, a client portfolio manager on the listed real assets team at , discusses how a "Halo theme" — heavy asset, low obsolescence — positions investments in real estate, infrastructure and commodities to perform well despite global headlines that are buffeting markets. Specifically, Weyandt notes that location-specific hard assets with contractual income streams are built to deliver regardless of the broad market conditions.
/episode/index/show/moneylifeshow/id/40712630
info_outline
ACLI's Chavern on private credit's impact on insurance protection
04/01/2026
ACLI's Chavern on private credit's impact on insurance protection
David Chavern, president and chief executive officer for the , discusses how insurance companies — who have been investing in private credit situations long before those investments were available to the general public — are withstanding the risks that critics say could cause the next financial crisis. Chavern also discusses the changing role of insurance, and specifically annuities, in financial planning as the last generations to get pensions are reaching retirement age and the next group of savers is looking for consistent, stable income later in life. Howard Dvorkin, chairman at , discusses “pig butchering,” a sophisticated financial scheme where criminals and then persuade them to invest in fake crypto or other fraudulent schemes. The bad guys' efforts have been bolstered by the development of artificial intelligence, making it easier to connect with targets — often the elderly or young, naive newbie investors — for them to "fatten them up" before slaughter. Stash Graham, managing director at , talks stocks in the Market Call. In an issue related to the private-credit concerns discusses in the Chaven interview, Graham takes a particular interest now in some of the business-development companies that have been tarnished by recent lending issues and portfolio re-valuation problems, noting that their are solid long-term business reasons to ride out the current headlines expecting a long-term payoff.
/episode/index/show/moneylifeshow/id/40698325
info_outline
U.S. wage standards fall short in creating prosperity
03/31/2026
U.S. wage standards fall short in creating prosperity
, an economics professor at UMass-Amherst, discusses his new book, author, “The Wage Standard: What's Wrong in the Labor Market and How to Fix It,” noting that the federal minimum wage standard is so low that it’s like having no standard at all, prompting many states to pass their own rules. Further, he notes that real wage growth happens mostly in times of full employment, so he is optimistic that sound policy and job demand can help fix problems in the current system. On way some employers get around minimum wage rules is in jobs that involve tipping and analyst Chip Lupo, discusses the site’s annual tipping survey, which found that . More than 2 in 5 Americans think the U.S. should ban tips altogether. Stephen Dissette, founder of S discusses how retirement savers can add “operational readiness” to financial plans, making more of their savings and getting more functionality out of their assets while easing shortfall worries. Plus, Chuck goes off the news to discuss Monday's announcement from the U.S. Department of Labor's Employee Benefits Security Administration on how it plans to expand access to alternative investments -- including private credit, cryptocurrency and more -- in 401(k) plans. The proposed rule lowers litigation risk and clears some regulatory burdens, lowering the hurdles for putting more alternatives into retirement accounts, but Chuck says it also raises some concerns and red flags.
/episode/index/show/moneylifeshow/id/40681810
info_outline
Wellington-Altus' Thorne: 'Sell war, buy peace' and the expansion that's coming
03/30/2026
Wellington-Altus' Thorne: 'Sell war, buy peace' and the expansion that's coming
, economist and chief market strategist at , says that "when the Iran situation calms down ... we're going to see massive multiple expansion and the geopolitical risk is going to drop." As that story plays out, Thorne says to buy areas that will help build the U.S., and to buy into electricity generation to help support the artificial-intelligence boom. He also said that expects the Trump Administration to try to "run the economy hot" once tensions have ended, in order to help deal with the deficit. , chief investment officer at , is also looking for a potential pick-up once the market can take its attention off of the war and the rapidly changing market sentiments in the battle between artificial intelligence and software. He says investors should back away from the headlines and keep a sharper watch on the job market, inflation and interest rates, which have the potential to take the market's focus off of the earnings numbers that drove gains in 2025. David Trainer, president at , says that he expects a number of high-flying companies to miss their earnings projections in the next quarter, noting that Wall Street keeps "two sets of numbers, the one they show the world and the real number," and that when the street figures out the real numbers, stocks like Solventum and Advanced Micro Devices are looking at big price adjustments. Plus, Blake Gunderson of discusses Northwestern Mutual’s 2026 Planning & Progress study, which showed that a sizeable number of Americans — most notably younger adults — feel like they are financially behind and are such as cryptocurrencies, prediction markets and sports betting as ways to play catch up.
/episode/index/show/moneylifeshow/id/40667220
info_outline
Clearstead's Norton: Oil is the only variable that matters now
03/27/2026
Clearstead's Norton: Oil is the only variable that matters now
Jessamyn Norton, senior managing director at , says we’re in a “one-variable market,” with the price of oil being the only thing currently moving prices, and with the commodity likely to be the determining factor daily moves until the Straits Times of Hormuz reopens. So long as the concern lifts and other variables come back into play soon, if oil concerns linger and the market stays below its 200-day moving average, she says the Standard & Poors 500 could be in for a big decline if it can’t hold around the 6,000 level. Kim Flynn, president at , a firm that specializes in alternative investments, says recent private-credit bad news events have widened discounts and raised concerns over business-development companies and interval funds, but have likely created a buy-the-dip moment in the industry. In the Market Call, Michael O’Keefe, chief of staff at , talks about his long-term thematic approach to stocks and ETFs, including how he is mixing the long-term uptrends in artificial intelligence with the more-recent downturn in software stocks. He also discusses why he currently owns none of the Magnificent Seven stocks.
/episode/index/show/moneylifeshow/id/40641465
info_outline
Midas' Winmill: Gold miners have more room to run than the metal itself
03/26/2026
Midas' Winmill: Gold miners have more room to run than the metal itself
Thomas Winmill, portfolio manager for the , says that while war typically is good for precious metals generally, the case for gold miners being able to deliver outsized returns is particularly strong now. Moreover, Winmill says the forces that contributed to gold being up more than 50 percent in the last 12 months — despite being down more than 10 percent in the last 30 days — are intact, and while war in Iran and geopolitics generally are creating a downturn, the longer-term forces will return once there is more clarity about economies around the globe. Todd Rosenbluth, head of research at , looks to a relatively young, actively managed, concentrated, equity-income fund that uses an options/derivative strategy as his ETF of the Week, noting that it's an addition to a portfolio that adds stability, but that should be used in moderation. Plus, Tom McIntyre of — who was the show's first-ever Market Call guest in 2012 — returns to Money Life, bringing his news-sensitive investment style with plenty of news to talk about. McIntyre was last on the show nearly a year ago, when he was positive on energy and oil stocks; he discusses where they fit in a portfolio now, amid the turmoil in the oil business due to the war in Iran.
/episode/index/show/moneylifeshow/id/40631970
info_outline
Lacking a withdrawal plan, retirees aren't living their best lives
03/25/2026
Lacking a withdrawal plan, retirees aren't living their best lives
Danielle Labotka, behavioral scientist at , discusses her research into how retirees withdraw money from their lifetime savings accounts and found that about half rely exclusively on simple approaches, like calculating expected expenses or taking required minimum distributions. As a result, she says, retirees are short-changing themselves, leaving money in accounts and cutting back on needs and wants rather than doing the math to come up with something more tailored to their situation. Worse, she says, 98 percent of retirees say they have no intention of changing their strategy. Speaking of spending strategies, Brian Vines, an analyst at and co-host of the Talking Carts podcast about shopping, discusses their . Chuck, who considers himself a careful shopper, learns that his preferred chain finishes next-to-last in the study, so the conversation turns to how consumers can do more and better with their money if they are careful, shop around and know pricing. In the Book Interview, , an educator and authority on trading, discusses his new book, "Positive Trading Psychology: Turning personal strengths into trading strengths.” Plus, Chuck answers a listener's question on sequence-of-inflation risk, why it has just recently been coming to the fore and how it could be impacting retirees and near-retirees now.
/episode/index/show/moneylifeshow/id/40619300
info_outline
Schwab's Coffey: Since turmoil, it's a two-sided market and the bears are winning
03/24/2026
Schwab's Coffey: Since turmoil, it's a two-sided market and the bears are winning
Alex Coffey, senior trading and derivative strategist at , says that since the conflict in Iran began, there has been more of a tug-of-war market and that the bears have been winning the battle, and while the decline has not been swift, the longer duration of the turmoil the more traders and investors are on edge. Coffey notes that the market's short-term trend is bearish, but the market is testing the longer-term 200-day moving average and the longer-term uptrend may be breaking. Karl Mills, partner at , says in the Big Interview that investors need to recognize that there is always drama going on around the markets, and that the concerns create worries, but "You generally do best by doing the least, if you have a well diversified portfolio and a strategy of how your assets are invested and you stick to that strategy." He discusses how investors are dealing with the war and much more, and how calm is the personal commodity that most people should be investing in right now. Financial journalist Allan Sloan discusses how one share of stock in a Detroit bank — purchased for about 40 bucks a half century ago so that he would be allowed into the company's annual meetings — has turned into about $5,000, highlighting the power of dividend reinvestments and time. Sloan — who made several small stock purchases in his wife's name over the years in order to access meetings and information that non-shareholders would have been excluded from — talks about how reinvesting turned insignificant payments into something much more meaningful.
/episode/index/show/moneylifeshow/id/40606620
info_outline
Sean Clark of Clark Capital: This is no time for knee-jerk reactions
03/23/2026
Sean Clark of Clark Capital: This is no time for knee-jerk reactions
Sean Clark, chief investment officer at , says that while markets tend to whipsaw around headline events like the war in Iran, the initial market reaction — historically a decline of about 7 percent — gives way to a bounce-back that helps investors a few months after the turmoil starts. As a result, he's suggesting that investors "be cautious with their allocations and don't make any big changes" despite their nervousness over the news cycle. David Trainer, founder and president at , says that recent layoffs at Meta Platforms are a signal of bigger troubles brewing, and that broader tech layoffs at companies like Oracle and Amazon are a sign of rouble. While not expecting stocks like Meta to crater, Trainer makes the case that as a weaker player in the artificial-intelligence game, the company could be looking at a lot of capital expenditures that don't necessarily boost the bottom line. As a result, he pegs the stock's value at hundreds of dollars less than its current trading range. , chief investment officer at , says that Micron Technologies has the fundamentals to be a darling on Wall Street, but the market sentiment has soured on the company, dropping the stock prive hard despite recent guidance that was well beyond what analysts' have been estimating for the company. In "The Week That Is," he also discusses higher oil prices and how consumers should expect them to stay higher for about two months — noting Treasury Secretary Scott Bessent's quote about 50 days of discomfort on pricing — before expecting substantive change. He also discusses the latest wave of artificial intelligence that now seems to be taking over thinking that was current as recently as a week or two ago, and how the fast developments are an issue investors need to be aware of, even if they should not be too reactive to them.
/episode/index/show/moneylifeshow/id/40593025
info_outline
Allspring's Venditti on why munis are a safe haven against war concerns now
03/20/2026
Allspring's Venditti on why munis are a safe haven against war concerns now
Nick Venditti, senior portfolio manager and head of the municipal fixed income team at , says that in a world worried about the macro picture and geopolitics, municipal bonds are a safe haven that is almost completely unaffected by global strife. The sector is delivering reasonable yields and is "fundamentally very strong from a bottom-up credit perspective," Venditti says, calling it a "no-brainer, free lunch kind of trade" for investors to move from money-market funds to short-term muni bonds, where rates are better and tax benefits create a boost on return. John Cole Scott, President of — the Chairman of the — says that closed-end funds are being buffeted in two directions due to current headlines, with war in Iran impacting net asset values and anchored interest rates impacting levered closed-end funds, with discounts moving as a result. He put his firm's "Trifecta analysis" to work, with four funds to consider now: ticker symbols , , and Author Lee Freeman-Shor discusses "," discusses how he identified a group of lesser-known investment stars and what they do that makes them great, and that individuals can do to learn from and replicate those results.
/episode/index/show/moneylifeshow/id/40558935
info_outline
Axel Merk: The market is pricing in a 'fizzle out'
03/19/2026
Axel Merk: The market is pricing in a 'fizzle out'
Axel Merk, president and chief investment officer at and the , says that the Federal Reserve's Wednesday disclosures were not a surprise, but do suggest a bit of a ho-hum attitude that the market has over the situation in Iran. Mostly, he says, the market is pricing things as if the tensions and resulting impacts on the oil market will remain short-term disruptions. He discusses his expectations for oil, god and more in the Big Interview. Todd Rosenbluth, head of research at , also looks at gold, with his pick for the ETF of the Week, and does it in a way that is unusual for him, because it focuses more on the fund's expenses than his typical weekly selection. Alex Morris, chief executive officer at , talks about the firm's filing with the U.S. Securities and Exchange Commission to tokenize its Treasury fund, a first-of-its-kind move that has potential to change the way ETFs trade, making them directly accessible on the blockchain. He discusses the industry implications but also why this is the obvious next step in integrating crypto into the rest of the financial world. Plus, Chuck filled up his gas tank yesterday, and the price was 90 cents higher than the last time he was at the pump. Rather than complain, he discussed the situation with people at nearby pumps, and he describes the politically diverse conversation and his takeaways from it.
/episode/index/show/moneylifeshow/id/40543760
info_outline
Wells Fargo's Christopher: This market can shrug off a short war
03/18/2026
Wells Fargo's Christopher: This market can shrug off a short war
Paul Christopher, head of global investment strategy for the says that , noting that the war has been proceeding at a slightly faster pace than he might have expected. Facing a limited but intense war with economic consequences, Christopher suggested investors should rebalance a portfolio more than make moves designed to try to take advantage of short swings caused by the conflict. If the Iran War lasts more than a few months or pushes oil prices past $150 per barrel, Christopher says that could change the game and create a deeper, lingering downturn. columnist Brett Arends . Dave Brown, chief executive officer at discusses the firm's 2026 Salary & Hiring Trends Report, which talked about how disruptive artificial intelligence has become for the job market. The annual study showed that A.I. is changing not only the way employers are hiring but the way workers are applying for jobs, and why that doesn't necessarily improve conditions for either side. Plus, Chuck answers a listener's question about his side gig as a lacrosse referee, and about finding the right side job in general.
/episode/index/show/moneylifeshow/id/40525510
info_outline
Robertson's Garretty says war has put 'recession' back into conversation
03/17/2026
Robertson's Garretty says war has put 'recession' back into conversation
Jeanette Garretty, chief economist at , says that rising oil prices and higher inflation have increased the possibility of a recession. While she says the operating outlook for investors is that the war in Iran will last a few more weeks, with oil starting to flow again quickly, which will make current events quickly forgettable as the economy returns to its pre-war growth path. But she notes that the path is uncertain, and the longer war persists and sours economic numbers, the more it draws out potential problems. "The challenge," Garretty says, "is the recovery ... if it doesn't look like what everyone expects." Veteran technical analyst , president of , says the market has reached "a point where I would want to be raising capital, where I would want to be defensive with long exposure. This is not a point where I want to put capital to work." Grimes says he sees the potential for a bad short-term downturn, noting that "[my] definition of bad is 50 to 60 percent." Grimes acknowledged that he sounds "like the raving crazy person at the top of the mountain," but he says that market cycles and enormous moves do repeat itself and the market is making a big decline a more-realistic possibility, which hasn't made him move out of the market but has made him more defensive. Mark Burrage, senior vice president at , discusses the wide range of factors that are making homebuyers uncomfortable, and what families can do to overcome the issues they are facing in buying a home.
/episode/index/show/moneylifeshow/id/40512330
info_outline
StanceCap's Davis sees headline risk stalling - not changing - market rotation
03/16/2026
StanceCap's Davis sees headline risk stalling - not changing - market rotation
Bill Davis, portfolio manager for and the Hennessy Sustainable ETF, says that current events have contributed to some market rotation back towards mega-cap tech names, because the market views them as comparative safe names that are not correlated to oil prices. That represents what he expects to be a short-term reversal in trends because the market had been moving broadening out, with the Magnificent 7 stocks struggling. He expects that trend to resume and continue as the headline risk subsides, when he expects the market to continue moving the market away from communications services and big tech toward more defensive and value-oriented stocks. David Trainer, president at , focuses The Danger Zone on "residual value guarantees" — which hide debt off-balance sheets allowing companies to spend money and to have liabilities that it mostinvestors will not know about until or unless a problem makes them surface. He says the says the phenomenon is particularly acute with artificial-intelligence companies, where a lot of money is being invested into construction that is backed by residual-value guarantees, and he singles out Oracle and Meta Platforms as two examples where the practice adds to New Constructs' unfavorable opinion of the stocks. , chief investment officer at , says that he expects oil prices to remain elevated until there is more clarity in the Strait of Hormuz, but that prices should snap back quickly to lower levels once the supply chain is clearly restored. In waiting for that clarity, he suggests oil tankers as a play on the situation, noting that it's a picks-and-shovels play on the industry, and that the tankers are making money even as they sit filled with oil waiting for resolution. He also discusses why Microsoft's recent decline is not something long-term investors should worry about, and more in "The Week That Is."
/episode/index/show/moneylifeshow/id/40498400
info_outline
Aberdeen's Gilhooly on whether the first shots of war were a buying signal
03/13/2026
Aberdeen's Gilhooly on whether the first shots of war were a buying signal
Robert Gilhooly, senior emerging markets economist at , discusses the adage that the first shots of war are a time to be buying investments, and he says investors might want to take more of a wait-and-see approach, at least until they get more clarity on how the war in Iran will impact oil prices. While President Trump has moved to keep the price of oil below $100 a barrel, Gilhooly makes a case that , a level high enough that it might cause a global recession. In the end, he expects a quick return to pre-war economic activity levels, including one interest-rate cut later this year -- if hostilities subside quickly. Guy LeBas, chief fixed income strategist at says that headline risks are diverting attention from a bond market that, in the long run, should be driven by positive economic conditions and decelerating inflation. The war in Iran is creating what he thinks will be more temporary conditions that scare investors but that don't amount to much long-term change in the market's outlook. LeBas expects corporate profits this year to be roughly 12%, which is strong enough to help the corporate bond market, which he also thinks will be buoyed by the hyper-scalers needing to borrow money to put it to work to keep up in the development race. Bernie Horn, manager of the fund, returns to the Market Call to discuss stocks and international markets in the face of current events. Like Bill Smead -- a value manager who was on the show earlier this week -- he talks about how value investing suffered while the stock market was in hot-growth mode led by the Magnificent Seven. Now, however, market valuations are high, which is setting up a rotation that he says will favor value-minded investors moving forward.
/episode/index/show/moneylifeshow/id/40430085
info_outline
BlackRock's Jacobs: Current events aren't disrupting long-term investing themes
03/12/2026
BlackRock's Jacobs: Current events aren't disrupting long-term investing themes
Jay Jacobs, U.S. head of equity ETFs at , says that the artificial-intelligence revolution has delivered massive spending, but not at levels that have been spent relative to gross domestic product, during other generational shifts like the introduction of the automobile. As a result, while he understands the bubble concerns, he expects AI to continue holding its place among BlackRock's global thematic trends. Also on that list of trends is geopolitical shifts, which were well underway before current events evolved into a war in Iran; because those trends were in place before today's developments, Jacobs says he doesn't expect markets or to be dramatically impacted by headline events. Jacobs also discusses the new Staked Ethereum fund, a new development in the crypto space, which the firm is launching today. , professor of retirement income, at The American College of Financial Services, discusses his revised, third edition of “,” which includes a new section covering sequence-of-inflation risk. Pfau says that concern -- which financial advisers mostly overlooked -- is particularly important now given growing concerns about sticky inflation, and that it may be as important for retirement savers as sequence-of-return risk, which Chuck typically says is his biggest retirement-savings worry. Plus, Todd Rosenbluth, head of research at , leans into global turmoil this week, picking a diversified international fund as his ETF of the Week.
/episode/index/show/moneylifeshow/id/40412030
info_outline
Value manager Smead: 'This is one of the most overvalued markets in U.S. history'
03/11/2026
Value manager Smead: 'This is one of the most overvalued markets in U.S. history'
Bill Smead, manager of the , says that by nearly every indicator, the stock market is at valuation levels seldom seen in American history, with the Standard & Poor's 500 trading "at more than 220% of GDP, the most dangerous number, virtually, we have ever seen." That does not make him want to get out of the market, however, as he says in the Market Call that "the problem everybody's got is that most of the money is in the place that is likely to do the poorest over the next 10 years, because it has done the best the last 15 years, and that is our opportunity." Ed Cofrancesco, chief executive officer at , says that investors have good reason to be skittish right now because the market has dropped off of highs, but he doesn't expect things to get really bad so that further market drops are an opportunity to dig in and make tactical purchases. In The Big Interview, Cofrancesco talks about his concerns about inflation — which he calls "an insidious tax on the working class and the poor" — noting that if it stays higher for longer it can change retirement-spending trajectories that investors need to plan for. Jennifer White, senior director, banking and payments intelligence at , discusses the firm's recent report showing that the She notes that the firm is classifying more consumers as financially unhealthy, in large part due to the stubbornly high cost of consumer goods, noting that current events which could create a spike in oil prices and which threaten more inflation weren't yet factored into the numbers, making the outlook for consumers that much more troubling.
/episode/index/show/moneylifeshow/id/40398205
info_outline
Hennion & Walsh's Mahn: Headline risks increase volatility, don't stop bull run
03/10/2026
Hennion & Walsh's Mahn: Headline risks increase volatility, don't stop bull run
Kevin Mahn, president and chief investment officer at , entered 2026 expecting more volatility from the market and geo-politicla events, and while he "didn't have war in Iran on his dance card," he doesn't think it will change the outcomes all that much. He expects oil markets, for example, to stabilize once investors are certain that the Straits of Hormuz have re-opened, and he thinks there is plenty of opportunity where money has been flowing, into areas like artificial-intelligence infrastructure. All in all, he expects the stock market to celebrate a fourth birthday for the current bull market. Veteran trader Peter Robbins discusses his book, "The Trader's Journey: Navigating the Path to Trading Success," covering how important it is for traders — even investors who want to do modest amounts of transactions with a small percentage of their holdings — to find the system that works for them and their lifestyle, and he talks about how technology has changed trading, but how the evolution in artificial intelligence hasn't made it so that individual investors can't find a working path to success. Allison Hadley discusses a study she did for study looking at AI shopping trends, where she found that , buying an average of more than $400 in eight transactions, and nearly two-third of shoppers expect to embrace AI when shopping this year. Despite that advancement, she notes that only 13% of Americans trust AI completely in its shopping recommendations with more than 80 % of consumers verifying its suggestions independently.
/episode/index/show/moneylifeshow/id/40384070
info_outline
Research Affiliates' Masturzo on inflation: '3% is the new 2%'
03/09/2026
Research Affiliates' Masturzo on inflation: '3% is the new 2%'
Jim Masturzo, chief investment officer at , says that "Volatility is just a reaction to something new, and something that has changed," which is why investors can expect a volatile market as it works through the start of the war in Iran. That said, he is not expecting the war to change much, other than increasing volatility, provided it does not last for a long stretch of time. Masturzo does think that will contribute to higher inflation, but he says that — whether the Federal Reserve likes it or not — a 3% inflation rate has become the norm and is likely to remain that way, in large part because the economy has shown that it can push through that level of inflation and continue growing. , chief investment officer at , also digs in on inflation in "The Week That Is," noting that the upcoming inflation numbers will be the financial story of the week ahead, but also potentially for many consumers' financial lifetime, noting that if higher inflation becomes the norm, it dramatically changes the math for building a retirement-savings nestegg that can overcome longevity and purchasing-power risk. Marolia also discusses the early impacts of war in Iran on the market and how he expects it to play out in oil prices, as well as his sense on what's next for the Space X merger. David Trainer, president at , takes a victory lap on some Danger Zone picks that have paid off, but where he believes there is significantly more trouble to come. It's a rogue's gallery of names like Affirm and Snap that all have fallen by at least 25% in 2026 and much further than that since their 52-week highs; Trainer notes that these stocks, and several others that he discusses, may look like bargains now that they have been beaten down, but warns that investors who buy now could be catching proverbial falling knives. Further, he says, there is no need to chase big losers in hopes of catching a turnaround.
/episode/index/show/moneylifeshow/id/40365080
info_outline
MacroTides' Welsh: Events in Iran won't derail the economy or the market
03/06/2026
MacroTides' Welsh: Events in Iran won't derail the economy or the market
Jim Welsh, the strategist behind the and Weekly Technical Review newsletters, says that the market's underlying strength won't stop a short, fast decline of as much as 7%, but it will provide strong resistance to a full-blown correction or bear market. Welsh notes that people fear that the economy will be severely disrupted because they remember oil shocks creating recessions in the 1970s, but oil prices have much less ability "to tip the economy into recession now," so he thinks the impact of current events will be less than most investors fear. Welsh has been forecasting a secular bear market — a long reversal of fortune for the stock market — for a few years now, and he still sees one coming, but he doesn't think that starts until "the next recession" creates a situation that stalls growth and disrupts the market. Amid all of those market worries and concerns, Ryan MacDonald, portfolio manager for the B, says that private real estate is "uniquely boring, in a good way." MacDonald, who also serves as chief investment officer at , says that three painful years of interest rate changes have driven values down to where they are attractive. "Entry point is the single biggest driver of future value for private real estate returns" and, on an inflation-adjusted basis, the market is now approaching valuation levels "not seen since the depths of the 2008 financial crisis." Jaime Seale discusses the 2026 home renovation trends survey from , which showed that given current economic and personal conditions. Nearly six in 10 homeowners have nothing saved for emergency repairs , which is particularly alarming because 85 percent of homeowners spent money last year on an unplanned repair.
/episode/index/show/moneylifeshow/id/40342505
info_outline
Teucrium's Gilbertie says war's market impacts are short term and passing fast
03/05/2026
Teucrium's Gilbertie says war's market impacts are short term and passing fast
Sal Gilbertie, chief executive officer at — which runs commodity-oriented ETFs — says that war in the Middle East will have mostly short- and medium-term impacts on markets, commodities and inflation, noting that "If you're not already long energy, you're taking a pretty big risk by buying it now." He says he will be watching fertilizer prices — because Iran is a large producer of urea, a key ingredient in fertilizers — expecting to see some inflationary pressures, but he thinks that, too, will pass quickly. Teucrium also runs crypto funds and Gilbertie also gives his take on how leading currencies will get through the current "crypto winter." With current events in the Middle East impacting his thinking, Todd Rosenbluth, head of research at , turns to a large-cap, low-volatility index fund for the "ETF of the Week," noting that the fund may not be the highest of flyers but it has a history of softening the blow of market downturns and troubles. Rod Yancy, founder of the , discusses research which found that healthcare costs — premium, prescriptions, long-term care and more — are the , but which also showed that a solid majority of retirees have a positive outlook this year despite current economic and geopolitical concerns. Plus, Chuck answers a listener's question about using artificial intelligence to improve personal portfolio results.
/episode/index/show/moneylifeshow/id/40327365
info_outline
Louie Navellier on how 'the U.S. is the winner' in markets and military
03/04/2026
Louie Navellier on how 'the U.S. is the winner' in markets and military
Louie Navellier, president of , says that while it is early to make any definitive statement on outcomes of military actions in the Middle East, he believes the energy industry narrowly and the domestic stock markets broadly are winning as a result of these actions. He makes the case that the dollar historically strengthens in times of conflicts, and that domestic markets enter these times much stronger than foreign markets; he's expecting the stock market to produce "a great year," though he is emphasizing gold stocks to get through and past the current headline events. Author , author of "Medicare 101: A Crash Course in Federal Health Insurance," discusses the relationship consumers should have with the Medicare system, its future when it comes to financing and how to navigate the morass of rules and regulations to avoid a lifetime of higher premiums and health-care costs. Chuck and his wife Gail are nearing the age when they must make Medicare decisions and enroll in the program, so they are the real-life examples of the considerations consumers have to make. Plus, Allison Hadley, discusses a survey she did on worker happiness for Howdy.com, which found that more than half of American employees consider work to be "." Happiness at work involves many factors, Hadley said, noting that 93% of happy workers have clear ways to succeed on the job, compared to just 52% of unhappy workers, who feel they don't have much opportunity to advance personally or professionally.
/episode/index/show/moneylifeshow/id/40312580
info_outline
Bitwise's Hougan: This 'normal crypto winter' is nearing a bottom
03/03/2026
Bitwise's Hougan: This 'normal crypto winter' is nearing a bottom
Matt Hougan, chief investment officer at , says that the last six months of falling prices for Bitcoin and Ethereum represent a "normal crypto winter," the kind of downturn you see every few years, which typically lasts no longer than 11 months. He thinks the market is nearing the bottom of the cycle now, though he warns there could be more damage before any turnaround, especially with a market facing a lot of idiosyncratic events; still, he believes both crypto and global equity markets are poised for better days ahead. Hougan notes that cryptocurrency started as a "100% speculation" is evolving to where it truly becomes "as normal as gold," making it so solid that it's not really speculation at all; he says Bitcoin is roughly half way into that transition now. Long-term technical trader Mick Heyman, founder of and author of ",” sees the potential for the market to suffer a "shock event" — a one- or two-day decline of 10 to 15% — and a lot of volatility for the rest of this year, but he generally expects the market to push through that decline, which could get the Standard & Poor's 500 down to the 6,000 level, and then climb back higher. Heyman is not suggesting that investors trade out of the market to wait out the downturn; instead, he suggests diversifying and rebalancing, noting that "This is not a time to bet on energy or defense ... This is not a time to bet for or against the Mag 7. ... This is a time to be sure you can handle that 10 or 15% drop." Plus, leading personal finance journalist discusses the end of the popular Direct File program from the IRS and how that is leaving consumers scrambling for free tax-filing help this year and where they can turn for help and red flags to watch for in the process.
/episode/index/show/moneylifeshow/id/40298690
info_outline
Amid chaos and growing recession fear, economist Yaruss leans into gold
03/02/2026
Amid chaos and growing recession fear, economist Yaruss leans into gold
Economist , the author of "Understandable Economics" and a professor at New York University, says that the market and the economy are strong on average, but that "chaos" — including the international tensions that escalated in Iran over the weekend, but also tariff and trade policies and more — should have investors leaning into gold. Yaruss notes that the market has seen so much speculative activity — including trillions for dollars invested into artificial intelligence infrastructure — so that when people see smaller-than-expected payback, the market and economy could go through the kind of demoralizing event that, historically, creates a recession. Yaruss isn't the only one focused on chaos, as , chief investment officer at , talks in "The Week That Is' about "disruption" being the keyword for the week and beyond. He says that tensions in the Middle East have the potential to disrupt the oil market, noting how artificial intelligence has disrupted software stocks and, more broadly, technology companies and the market itself, but he also says that investors need to avoid disrupting their own portfolios by over-reacting to the headlines and the rapid-fire emotional swings. Building on that theme of changes impacting the market's leading sector — and continuing a theme from recent Danger Zone segments, Kyle Guske, investment analyst at , says that technology stocks outside of the Mag 5 are headed for trouble. And, yes, he calls it the "Mag 5" because he doesn't think two companies come close to still qualifying as "magnificent." Plus, , editor of Herb Greenberg's Red Flag Alerts, discusses his and how the company's answers to questions on private credit may be a sign of more trouble ahead, not just for the BDC company – which has been hammered since it stopped redemptions in a non-traded BDC due to problems with some of its software lending – but for private credit markets generally.
/episode/index/show/moneylifeshow/id/40282540
info_outline
How scary market action in software and BDCs is creating buying opportunities
02/27/2026
How scary market action in software and BDCs is creating buying opportunities
Today's show is all about digging into value, which often can be found in the scariest portions of the stock market. Of late, nothing has been scarier than the wash-out in software stocks, but in the Market Call, Adam Peck, co-founder of , says that the "massacre in the software space" has made it that the software sector is now a value priced sector for the first time in two decades. With a lot of software stocks with double-digit free cash flow yields, Peck says, making software "one of the most interesting areas of the market." The software companies troubles have spilled over into the realm of business-development companies, many of which have made loans to software companies that, in theory, could be troubled if artificial intelligence replaces the need for software as a service. Behind the theory that software companies will struggle to pay debts as artificial intelligence renders their products less useful and attractive, there are been some scary, well-publicized issues with a few BDCs. John Cole Scott, president of , digs into the math that is impacting the lenders and BDCs in general. Scott, who also serves as chairman of the , shows how the headlines could be creating values that make the industry more attractive, not less, for investors who understand and measure the risk. Plus, Columbia University finance professor Ehsan Ehsani discusses his new book, "," which helps investors follow value-oriented strategies in all market conditions.
/episode/index/show/moneylifeshow/id/40254025
info_outline
River Wealth's O'Gorman: 'Time to take advantage of what the market's offering you'
02/26/2026
River Wealth's O'Gorman: 'Time to take advantage of what the market's offering you'
Ed O'Gorman, chief executive and chief investment officer at , says that despite headline risks, investors need to "participate, without being overexposed" to market forces, balancing risks and approaches. He notes that recent action indicates that the market is broadening out, highlighting that an equal-weighted approach recently has delivered better results and lower returns, a sign that it's a good time to diversify and rebalance portfolios into the face of the news cycle. Bob Powell, retirement columnist at and the co-founder of FinStream TV, dives into new research showing that household spending tends to decline modestly over the course of retirement, typically by small annual amounts that turn into big money over the decades of retirement. He has created a "" that lets investors see for themselves how spending reductions -- the standard pattern, even if not conventional wisdom -- change the trajectories of retirement savings and spending. With the "ETF of the Week,"Todd Rosenbluth, head of research at , focuses on a large-cap value fund that in its three-plus year history has accumulated what may be the most accolades and honors of any fund, getting perfect marks from both Morningstar and Lipper, with a structure and management discipline that should lead to continued future success. Plus, Emily Fanous discusses survey work she did for Credible.com study which found that .
/episode/index/show/moneylifeshow/id/40241920
info_outline
Asbury Research's Kosar: Market gets defensive amid rising macro uncertainty
02/25/2026
Asbury Research's Kosar: Market gets defensive amid rising macro uncertainty
John Kosar, chief market strategist at , says money managers are moving from the market's racehorses to its sure-footed burros, saying it's a sign of "the very late stages of an up move or the beginning stages of the market starting to roll over." Kosar says the market has some room to correct and stay in bull market territory, but he thinks investors want to be cautious here until the rotation is complete. "I'm not saying doom and gloom and we';re done for the year," Kosar says, "but if you want to put on more risk ... this is a lousy place to do it." He's expecting a 5 to 7 percent move down, at which point the market will be much more attractive. In the Market Call, deep-value investor Michael Campagna, co-founder and senior investment analyst at , discusses how the high levels of domestic stocks have him more interested in international investments, but he is finding plenty of opportunities around the globe,including, surprisingly, some that are derivative plays from the artificial-intelligence boom. Plus, Chuck discusses the parts of Tuesday's State of the Union address that had him scratching his head about math and political processes, and digs into statements that were made about inflation, tariffs, Social Security, the level of promised foreign investments into the United States, the scope of fraud in government programs and more.
/episode/index/show/moneylifeshow/id/40228395
info_outline
U.Chicago economist says tariff 'harms' won't be erased, even if levies stop
02/23/2026
U.Chicago economist says tariff 'harms' won't be erased, even if levies stop
Economist , a professor at the University of Chicago Harris School of Public Policy, weighs in on the fallout from Friday's Supreme Court decision that the Trump Administration had exceeded its authority in declaring tariffs as being necessary under emergency conditions. While the move put an end to the previously announced tariffs, Durlauf discusses the uncertain benefits of the changes, noting that there are some monies that could flow back to consumers or prices that could decrease, but that most of the impacts will be more on the policy and economy fronts than to the pocketbooks of consumers and the coffers of businesses. David Trainer, founder and president at , says that technology investors could be headed for trouble as he expects the sector to roll over "and take several steps back," bogged down with more balance sheets showing an overload of debt. He notes that tech stocks have benefitted from momentum investing and buy-the-dips thinking, but if earnings slow down — as he expects — and off-balance sheet debts hit home, the sector will lag other parts of the market. , chief investment officer at says that he expects GDP numbers to come roaring back from last week's disappointment, noting that the 4%-plus growth he sees for much of the rest of the year is more than just recovering the gross domestic product lost late last year to the government shutdown. He does not expect that growth to be derailed by continuing trade-policy and tariff uncertainty, which reached new heights last week after the Supreme Court decision. Also in "The Week That Is," Vijay discusses his experience playing around on prediction markets and how that has led him to see that those platforms — which most see as a different form of gambling — will have real impacts on investment theory and strategy in the very near future.
/episode/index/show/moneylifeshow/id/40198390
info_outline
Interactive Broker's Torres: The economy is running hot, but the market will fall in '26
02/20/2026
Interactive Broker's Torres: The economy is running hot, but the market will fall in '26
Jose Torres, senior economist at , says the economy is strong and "not looking at a recession here," but that hot economy benefits cyclical stocks rather than the Magnificent Seven stocks, and that limits just how much the market can gain ground. With technology "set for a down year," the other areas of the market can't generate enough gains — even in a robust economy — to make 2026 positive. He also notes the market has been running in a "three year on, one year off" cycle, and he thinks that will impact tech companies this year." Torres still expects rate cuts and thinks any downturn will be relatively short lived and not too deep, but enough for where investors should adjust their expectations. John Cole Scott, president of , sizes up the prospects for the first new IPO the closed-end fund industry has seen in several years, and from a surprising source. Robinhood markets, the investment platform, will launch next week Robinhood Ventures Fund I, a concentrated portfolio of private companies. Scott, who also serves as chairman of the , discusses the role private equities can play in a portfolio, as well as the challenges investors face in sizing up a fund with a net asset value entirely based on the "value" of illiquid shares that don't trade in public markets. Billy Hensley, president of the discusses the group's recent poll on , which found that seven of eight respondents were feeling some form of financial stress as they entered the year, with more than three-quarters of all respondents having suffered a financial setback in 2025.
/episode/index/show/moneylifeshow/id/40177815
info_outline
EY's Daco on why 'historic shocks' and polarization haven't derailed the economy
02/19/2026
EY's Daco on why 'historic shocks' and polarization haven't derailed the economy
Greg Daco, chief economist at , says the economy has been dealing with historic and conflicting economic shocks, but if it can continue the current capital investment cycle and see the productivity gains promised by artificial intelligence, it should be able to remain resilient in pushing past wobbles and weakness. Daco, who currently serves as the president of the , discusses his concerns that growing polarization between different consumers and businesses are increasing the fragility of what he calls "the A pillars of economic growth" — affluent consumers, A.I. investment and asset-price appreciation economic growth — and how that creates "pockets of risk" that could change the cycle. Todd Rosenbluth, head of research at , leans into signs that the stock market has been broadening to make an equal-weight fund his ETF of the Week, noting that the balanced construction creates a very different take on the market than the traditional index fund covering the same ground. Mike Bailey, director of research at , brings his "beat and replace" methodology back to the Market Call, discussing how secular change in industries and economies creates the upgrading opportunities he looks for.
/episode/index/show/moneylifeshow/id/40164030