Money Life with Chuck Jaffe
Money Life with Chuck Jaffe is a daily personal finance talk show that airs Monday through Friday. Host Chuck Jaffe helps listeners sort through financial clutter and provides information needed to manage their money effectively. The podcast covers a wide range of personal finance topics, including investing, retirement, and budgeting.
Episodes
Franklin Templeton's Dover: This market's not 'expensive,' just 'fully valued'
Steven Dover, chief market strategist at Franklin Templeton, says there is still more upside to the market, based on earnings growth, noting that the economy and stock market have been resilient due to the "phenomenal" profits companies have been generating. Dover notes that the market is fully valued, but not expensive; "We think earnings this next year could be [up] 15 to 20 percent, so the mark
Argent Trust's Stringfellow: Market is rounding out, not signalling big trouble ahead
Tom Stringfellow, chief investment strategist at Argent Trust, says the stock market is going through a shift where small-cap companies are coming to the fore, businesses that are adjacent to artificial intelligence or that will benefit from using it are starting to get an A.I. boost and the warning signs feel mostly like distant storm clouds. Stringfellow says he doesn't see signs of recession, w
Wells Fargo's Samana: Technicals are telling investors to 'Play on!'
Sameer Samana, head of equities and real assets at the Wells Fargo Investment Institute, says that as long as the market keeps making higher highs and lows, investors should use technical indicators as a North Star to stay in the game and ride the market higher. Samana says the market's move to record levels says that broader economy is strong enough to keep the market rolling with a "turbo-boost"
BNP Paribas' Morris says the big worry now is economic 'overheating'
Daniel Morris, chief investment strategist at BNP Paribas Asset Management, says that his primary concern right now is the risk that the economy could overheat, thanks to above-trend growth and inflation that could prompt the Federal Reserve to raise interest rates in an effort to slow things down. If that fails to cool inflation, the economy could then struggle and the market could step far away
ChartPattern's Zanger: The market 'needs some Prozac, that's for sure'
Veteran analyst Dan Zanger, chief technical officer at ChartPattern.com, says the market right now is showing swings and moves that are reminiscent of the Internet bubble days of 2000. While that doesn't mean the market is headed for the same result, he says it creates more challenges for traders and investors, in part because they are trying to read the market off of wild swings and fast reversal
3Edge's Folts: Be diversified, because 'It's impossible to game where this goes'
Fritz Folts, chief investment strategist at 3EDGE Asset Management, says he has pulled back slightly on equity exposure but gone deeper into a diversified approach because the market has been crazy, driven by investors' fear of missing out, sky-high expectations and more, to the point where the key is to participate and not be wrong because you are taking chances on what amounts to a wild guess. I
Schwab's Sonders on the need to diversify your strategy in A.I.
Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., says that "there is so much short-attention-span money driving the market right now ... looking for the shiny new object," that investors want to diversify throughout artificial intelligence businesses, taking profits and rebalancing especially when specific stocks go parabolic, to capture profits and avoid some of the volatili
Allspring's Bory: Bond investors should capture the Fed's 'uncertainty premium'
George Bory, chief investment strategist for fixed income at Allspring Global Investments, says the market is "overshooting" in expecting considerable rate hikes soon. He thinks the central bank will be patient, and that the Kevin Warsh regime got off to its intended start last week by giving less guidance and accepting more volatility as a result. He suggests that investors should look to capture
StockCharts' de Kempenaer; Don't jump in front of this 'freight train' of a market
Julius de Kempenaer, senior technical analyst at StockCharts, says the stock market right now is "technology against the world," and he expects that it will turn and correct, but he's not willing to put his portfolio on the line and move early, because it would put him in the path of a speeding "freight train." de Kempenaer says he can "hear what the bears are saying," and doesn't necessarily disa
John Hancock's Miskin says IPO boom could be a sign of a bubbly market
Matthew Miskin, co-chief investment strategist at John Hancock Investment Management, says that the current stock market has been driven to record highs on the back of strong earnings that have overpowered economic concerns, but he notes that the stock market bubble that inflated during the Internet boom of the late 1990s grew on the backs of companies with no real earnings. As a result, with IPOs
Interactive Broker's Sosnick: 'I can't fight the tape, but I can't embrace it either'
Steve Sosnick, chief market strategist at Interactive Brokers, entered the year expecting the stock market to be down in 2026, and while stocks have overcome the gravity he saw weighing it down, he thinks there is trouble on the horizon. "We've become very detached from basic fundamentals and very much focused on ... betting the longshot, that it's going to come in," Sosnick says in today's Big In
Value investor Davis on how investing is changing in the age of A.I.
Chris Davis, chairman and portfolio manager at Davis Advisors discusses how every technological revolution — dating back to the days of the printing press but extending to the artificial-intelligence boom bow — goes through the cycle of "Amara's Law," in which the effects of a technology are overestimated in the short run but underestimated over the long term. As a result, Davis says investors are
Man Group's Hooper: A priced-for-perfection market is poised for trouble
Kristina Hooper, chief market strategist for Man Group, says the market is entering a "greater discernment phase," where companies have been priced for massive growth and "incredibly high standards," setting up potential disappointment as investors become more picky while the AI revolution plays out. Hooper says this is a natural progression, one that investors saw during the Internet boom, as it
Northwestern Mutual's Schutte: 'We're in economic cycle overtime'
Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Co., says that the current economic cycle is in "overtime," a point where the stock market gets narrow. As the cycle ends, however, he expects the market to broaden out, which could carry it higher, just driven by small-cap stocks and other industries. As a result, he says investors should stick to their plans and not
Glenview's Stone: 'Earnings are the fuel that sends stocks higher'
Bill Stone, chief investment officer at Glenview Trust, says that the stock market "continues to price in that the Iran conflict is going to be over [soon]," which has kept the focus on blockbuster earnings numbers, which have been so strong that they have overcome virtually all economic and stock market concerns. He expects that earnings trend to continue, powering the market through some summer
Crossmark's Fernandez: Market needs a pause, but can regroup by year end
Victoria Fernandez, chief market strategist at Crossmark Global Investments, says that she is expecting the market to suffer some late summer doldrums as seasonal economic impacts end and mid-term elections put their traditional damper on enthusiasm, but that there will be some support for the market near year's end, making for "a positive year, but nothing like we've seen in the last two years."
Bridgeway's Pozharny: AI infrastructure boom 'will make builders poor and users rich'
Jacob Pozharny, portfolio manager for the Bridgeway Global Opportunities Fund a market-neutral fund that looks at global macro factors — says that every infrastructure boom in history has led to massive capital expenditures, to the point of over-capacity, then demand destruction and a cycle that leaves users better off but hurts the companies that get caught in the mix. He cites railroads, teleco
NDR's Kalish says solid fundamentals will keep overpowering global econ worries
Joe Kalish, chief global macro strategist at Ned Davis Research, says 2026 has had surprising narratives but unsurprisingly solid results, and he expects that to continue, without significant recession risk or big trouble ahead. Kalish discusses often overlooked economic numbers, like a financing gap where demands to fund capital expenditures outstrip available capital and the level of real gross
Bullseye Trades' Bishop: 'I think it's a dangerous time in the market here'
Long-time technical analyst Jeff Bishop, head of Bullseye Trades, says the stock market is "priced to perfection, perfection, perfection," and while he isn't saying stocks are overvalued, they are at least fairly valued, which means the stock market here has more downside risk than upside potential. As a result, Bishop says that while he is trying to wring the last of the momentum out of the marke
Financial history shows that the American Dream is alive and achievable
Joseph S. Moore, author of "How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn't)," says that America is dealing with "Big Woe" (as in "Woe is me"), but that examining the past makes it clear that "The American Dream is alive and well." Moore points out that what people think is unique today has all been played out in the past, comparing cryptocurrency to the th
ICON's Callahan: Earnings and value are growing; prices are 'trying to keep up'
Craig Callahan, founder and chief executive officer, ICON Advisers — manager of the ICON Equity fund, which is up more than 25% year-to-date — says the market, even at record highs, is right around fair value, meaning he doesn't see over-pricing or investor behavior typical of market peaks. As a result, so long as earnings stay strong — and he describes current earnings as being at levels of "craz
LPL's Turnquist: Market's winning streak portends strong run to year's end
Adam Turnquist, chief technical strategist at LPL Financial, says it's "hard to argue" with a stock market that has returned to record high levels on the back of a 9-week winning streak for the Standard and Poor's 500. Turnquist says that kind of streak has only happened 10 times before, with the momentum leading the market higher a median return of 8 percent six months after the streak. Turnquist
New Constructs' Guske on how SpaceX stock may implode upon launch
The big story in the week ahead is expected to be the IPO of SpaceX, and Kyle Guske, investment analyst at New Constructs, says this deal is ugly right from the jump, putting the new stock in The Danger Zone before it even goes public. Guske notes that SpaceX has no earnings , a negative economic book value, a share structure that leaves virtually all control with Elon Musk, and that nearly all mo
Wells Fargo's Cronk: Raising rates in an oil shock 'is a categorical mistake'
Darrell Cronk, chief investment officer at Wells Fargo Wealth & Investment Management, says he expects inflation will top 4% during the summer, which will put pressure on the Federal Reserve to hike interest rates, but that could dramatically increase the potential for recession because rate hikes and oil-driven inflation stocks, historically, have been a recipe for trouble. Cronk, who also serves
Resource investor Rozencwajg: Today's oil 'shock' is tomorrow's building catastrophe
Adam Rozencwajg, managing partner at Goehring & Rozencwajg — a firm that focuses on natural resource investing — says that the war in Iran has already created "the most severe shock to energy markets in history," which he says is three times more severe in terms of barrels produced than anything seen in the 1970s, and that the situation will get markedly worse from here. Rozencwajg says that it ta
Investors haven't 'planned for enough,' particularly with inflation
Long-time personal-finance commentator Paul Merriman, founder of the Merriman Financial Education Foundation says that investors haven't taken inflation into consideration the way they have investment returns, and that has the potential to leave them "at risk of being disappointed." Merriman says that investors should "Take 2 percent off of the return for the purposes of thinking about the future,
AAII's Rotblut on the potential meaning of 'vanishing optimism'
Charles Rotblut, vice president for the American Association of Individual Investors — overseer of the AAII Sentiment Survey — discusses the dramatic drop in bullish sentiment last week and how the big spread between bullish and bearish investors increased so dramatically that it teeters on the edge of becoming a contrary indicator. The sentiment survey has a history of showing that when emotions
Voya's Stein: Rates are rising now so they can fall again soon
Eric Stein, chief investment officer at Voya Investment Management, says that investors can expect interest rates — particularly on longer-term bonds — will keep rising, but those higher reates "will lead to lower rates because you will see a response on the demand side whether it's through the consumer or through the [capital expenditures] cycle." Stein says that if "demand destruction" doesn't
KraneShares' Ahern: China's 'not all rainbows, unicorns,' but it's no 'apocalypse '
Brendan Ahern, chief investment officer at KraneShares — which manages a number of funds tied to China — says that President Trump's recent trip to China was viewed very differently overseas than it was in America. In China, the trip was viewed very positively for establishing trade boards, improving communications and laying a foundation for future negotiations. Domestically, however, the view o
XYPN's Almeida: 'The biggest risk in front of us is geopolitical risk'
Andrew Almeida, director of investments at XYPN, says that investors shouldn't be too active in responding to the news, but he says that geopolitics is a real threat to portfolios, especially as current tensions linger and change the inflation landscape. Almeida — co-host of XYPN's new Balanced PM podcast, which launches today — notes that the risks you take in reacting to the news are at least as
Zacks' Blank: Oil shock will trigger rate hikes and, possibly, recession
John Blank, chief investment strategist and chief economist at Zacks Investment Research, says that global central banks — including the Federal Reserve — have shifted to a rate-hiking mode. While some will wait to see when the Strait of Hormuz opens and how long higher oil prices impact inflation, he thinks the lingering tensions will force their hand. Further, he worries that the market's curren
SLC's Mullarkey: Market needs war resolution, or an inflection point is coming
Dec Mullarkey, head of investment strategy and asset allocation at SLC Management, says that earnings are strong and should keep the stock market rolling, but that signs of weakness shown by the bond market and concerns about how the war in Iran is impacting oil are going to be limiting factors. Mullarkey worries that a longer conflict could turn oil into a global crisis, where rationing and other
DeCarley's Garner: Market is 'starting to get wildly overdone'
Carley Garner, senior commodity strategist at DeCarley Trading, says the stock market looks unbalanced to her, with the current rally built around mechanical issues, like an explosion of option sales that impact market performance. She is expecting a pullback, and says things could get ugly — with the Standard & Poor's potentially losing at least 1,500 points, — about 2,000 points — which is why s
Baird's Mayfield: The Fed is done cutting; market's not done rising
Ross Mayfield, investment strategist at Baird, says that the Federal Reserve "is going to be very hard pressed to find a reason to cut [rates] here," and he thinks that if the central bank does have to make rate reductions down the road, "it won't be for reasons investors would be excited about." Mayfield says he remains bullish, noting that "a consolidation period is probably in order," setting u
ProShares' Hyman: Earnings will keep powering market past headlines
Simeon Hyman, global investment strategist at ProShares, says that we have "had the most stunning earnings season in pretty much anybody's recollection," exceeding expectations and making it that the market is more focused on the earnings story than anything else, including bad news about war, inflation and more. He sees that trend continuing, even if inflation rises or stays sticky, until or unle
Sanjac Alpha's Wells: Interest rates will rise this year, even if the Fed cuts
Andy Wells, chief investment officer at Sanjac Alpha, says he expects the stock market to continue on its positive roll and wouldn't be surprised if it's up by about 6% from current levels over the next six months, but he also says that investors should expect interest rates to go up this year — even as he thinks the Federal Reserve will look to make a cut — because there is so much incoming bond
Does the media's soft vs. hard data coverage mislead investors?
Vince Duffy, news director, Michigan Public, joined Chuck at the Society for Advancing Business Editing and Writing Conference in Philadelphia to discuss how the media handles its coverage of soft versus hard data and whether those stories — and others — are politicized. Duffy also talks about coverage priorities and the difficulties of balancing news that consumers need with the things they most
Touchstone's Aarts on why oil prices are causing higher bond yields
Erik Aarts, senior fixed income strategist at Touchstone Investments, says the last few weeks have shown a disconnect between stock and bond markets, with the bond markets getting particularly cautious while stocks have raced back to record highs. What the bond market is worried about, Aarts says, is that higher oil prices will bleed into another round of higher inflation. ... At its base case, t
Westwood's Sanghani on how war has changed the oil demand outlook for years
Parag Sanghani of the Westwood Holdings Group, manager of the firm's Enhanced Energy Income and Enhanced Midstream Income ETFs, says that the ongoing war in Iran has pulled volumes from inventories early, creating synthetic demand that will keep prices higher for several years. That benefits the oil companies and stocks that Sangahni likes, but it hurts by creating a tax at the gas pump, which he
Ocean Park's St. Aubin: Market is overvalued but downside risk isn't too high
James St. Aubin, chief investment officer at Ocean Park Asset Management, says that the stock market's flirtation with record highs is showing some overvaluation — increasing the potential downside risk — but he only expects that risk to be realized "if the narrative changes, if something comes out of left field that shakes the whole foundation of what is building market optimism today." His most
Commonwealth's McMillan: Trouble's still coming, but not for a while
Brad McMillan, chief economist for Commonwealth Financial Network, says that there's "an enormous feel-bad headline economy," but the underlying fundamentals are solid enough to keep earnings growing, which will make it that the market does well, or at least avoids a protracted, deep downturn. McMillan worries that when the supply-chain breaks for food, for holiday shopping and more several months
Channel Capital's Roberts: Markets will stay happy with even a hint at rate cuts
Doug Roberts, chief investment strategist at Channel Capital Research Institute and the author of "Follow the Fed to Investment Success," says that it doesn't matter much to the stock market when a rate cut happens, so long as investors can expect decline and believe the central bank will step in with one if employment numbers change significantly. Roberts says that the market wants to know that "
Northwestern Mutual's Stucky on why earnings growth overcomes headline risks
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, says in the Market Call that scary headlines over higher gas prices, inflation and war haven't created a significant headwind to overcome the solid earnings growth picture. Stucky adds that beyond the earnings results, the economy is benefitting from tax and tariff reductions that are helping to balance out
Rayliant's Hsu on a resilient market that is 'separated from reality'
Jason Hsu, chief investment officer at Rayliant Global Advisors, says that "thee's the real economy and there's what the S&P 500 and Nasdaq are measuring" and they're different, which is why it's "not crazy for the stock market to reflect something almost separated from reality." As a result, consumers can freak out at what they see at the gas pumps and grocery stores and concerns over war can be
Water Tower's Severson: The economy sees $75 oil 'as the new $60'
Shawn Severson, chief executive officer and the head of market and thematic research at Water Tower Research, says that oil futures prices looking out into 2027 and reacting as if "$70 is the new $60," a sign that the market does not think any oil shock will be long-lasting. Meanwhile, he says that the economy's continuing strength is showing that it can absorb and tolerate higher inflation and ot
BlackRock's Laipply on the 'generational opportunity' in fixed income
Steve Laipply, global co-head of iShares Fixed Income ETFs for Blackrock, says that with fixed-income yields staying high and with evolving tools in new funds, investors have a generational opportunity to generate solid real returns and, more importantly, a solid income stream. BlackRock today released a new paper on current fixed-income opportunities, and Laipply discusses laddering bond ETFs wit
How 'A.I. Economics' will impact almost everything
While much of the focus on artificial intelligence has been on how it will improve productivity, economist Benjamin Shiller, author of "AI Economics: How Technology Transforms Jobs, Markets, Life and Our Culture," says that many impacts that are just starting to be seen will be at least as revolutionary. Shiller says, for example, tha expects an end or near end to pop-up ads and Internet advertisi
StockTA's Steuer: Market's rally has it due for a pause, awaiting clarity
Kevin Steuer, managing partner at StockTA, says the stock market's rally after the initial peace talks over the War in Iran got a bit ahead of itself, and he's now expecting the market to hover — without facing much downside pressure — awaiting more resolution and clarity. He's heavily in cash at this point — the most cash he has held by percentage since the Covid crisis — and is looking at defens
Economist Silvia says 'there's no relief from interest rates'
John Silvia, chief executive officer at Dynamic Economic Strategy, says he expects the Federal Reserve to keep interest rates steady, leaving mortgage rates stuck at 6%-plus and in an environment with the 10-year Treasury rising slightly. Silvia points out that the central bank is not going to be frantic about 3% inflation and reducing it to the 2% target level, but he says that investors and reti
Hood River's Cannon on avoiding companies 'that are going to get AI'd'
Lance Cannon, portfolio manager at Hood River Capital Management, says in the Market Call that he is looking for transformational small companies that can benefit from changing trends in key industries, which has included artificial-intelligence stocks heavily as his funds produced stellar results in recent years. But Cannon says that looking for those companies means finding businesses that will
American Gold's prez sees gold hitting $6,000 within 18 months
Dana Samuelson, founder and president of American Gold Exchange, says gold investors shouldn't expect the rally in metals to resume at the pace it set last year — when gold was up over 60% — but he does believe that the fundamentals that were in place for that rally will drive gold back up once concerns over war and inflation are a little less prominent. He sees the metal hitting $6,000 in 12 to 1
Fiduciary Trust's Sanchez: Solid fundamentals will win out
Ron Sanchez, chief investment officer at Fiduciary Trust Company International, says in "The Big Interview" that solid fundamentals from both the top down and the bottom up should make it that earnings can drive the stock market higher once there is resolution in Iran, where war has been creating problems that could make for a volatile and bumpy few months. He expects higher inflation to be tempor
Veteran technician sees new highs leading to a range-bound, volatile market
D.R. Barton Jr., director of market research for the Foundation for the Study of Cycles, says he expects the market to continue its recovery through one more burst higher that lasts into the summer, but after that he is seeing "a bouncy, sideways market" with heightened volatility, swings reaching 20% up or down in a quarter. He is looking for "inflation-hedging names" for whatever happens coming
Baird's Diederich: Yields look attractive amid short-term inflation rise
Gabe Diederich, portfolio manager at Baird, says that long-term indicators for inflation haven't moved much, which is good news for bond investors interested in capturing steady income for the long haul. He says in the Big Interview that he expects the Federal Reserve to wait on rate changes — so long as the economy and labor market remains stable — until there is more clarity and certainty in the
Morningstar's Sekera: Technology is now trading 20% below fair values
Dave Sekera, chief U.S. market strategist at Morningstar, says that the beating that technology stocks have taken has made the sector ideal for patient investors hunting bargains. He says technology as a sector is now trading at a 20% discount to the firm's composite of fair values, and there have only been two other times since 2010 when tech has been that undervalued. As a result, he's looking a
A gambling story for the ages, building wealth for generations, and more!
Journalist Kit Chellel discusses his new book, released today, "Lucky Devils: The True Story of Three Rebel Gamblers Who Beat the Odds and Changed the Game," the tale of 1970s gamblers who applied early computer technology to gambling at a time when the smallest computers were still the size of a suitcase. They created "advantage playing," and faced issues with casinos, the mob and more, but also
Cordoba's Sheikh: The market's 'dislocated areas' are its best opportunities now
Abe Sheikh, chief investment officer at Cordoba Advisory Partners, says that if tensions in Iran cool and oil prices settle down — which the futures market is saying is likely by year's end — says that the current spike in inflation is temporary and the risk of runaway inflation is much lower than it was during Covid times. With that in mind, he thinks current events are more setting up investment
Mariner's Krumpelman: Buckle up to ride the S&P to 7,700 by year's end
Jeff Krumpelman, chief investment strategist at Mariner Wealth Advisors, says that the economy is on solid grounds and that earnings expectations are up, which has prompted him to stand fast on the 7,700 target he put on the Standard & 500 entering the year, and he expects the market to bounce back hard once headlines ease up and investors get more clarity. Krumpelman says he expects the market to
Morgan Creek's Yusko says to invest in 'uncomfortable areas' now
Mark Yusko, chief investment officer at Morgan Creek Capital Management, says global uncertainty "is at the highest level it has ever been," which is why investors have been leaning into quality and other factors they understand and are comfortable with, but he says value-oriented investors should be looking for less-traveled paths, searching for opportunities where they feel really uncomfortable
Opal Capital's Wicker: The impact of today's headlines will be short-lived
Wayne Wicker, president of Opal Capital, says investors "are bombarded every day with news items," and while those things are interesting, they're also "meaningless" for most people with a long-term horizon. He suggests "looking through the noise," and notes that in the cacophony of current events, he sees opportunities in mid-cap stocks and in some areas and individual issues where the market has
Rainwater's Shaposhnik: Excessive software selloff is creating attractive buys
Joseph Shaposhnik, founder/chief executive officer of Rainwater Equity — manager of the Rainwater ETF, which focuses on buying into recurring revenue models at reasonable prices — says that the software industry "is embroiled into a controversy that is very difficult to dispute until we have [multiple] quarters of these businesses putting up very, very strong results." But because he expects those
How to find the '100-baggers' that can build generational wealth
Neeraj Khemlani discusses his new book, "The Coffee Can Investor: A Stock-Picker's Journey to Build Generational Wealth" — out this week — which tells the story of picking a few stocks and stashing them away in the same way that some people hide valuables for decades in old coffee cans. It delves into portfolio manager Matt Ankrum, who took the practice and super-charged it by researching hundred-
Significance's Isherwood: 'This is more a time correction than a price correction'
Ryan Isherwood, chief investment officer at Significance Capital, 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
ACLI's Chavern on private credit's impact on insurance protection
David Chavern, president and chief executive officer for the American Council of Life Insurers (ACLI), 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, a
U.S. wage standards fall short in creating prosperity
Arin Dube, 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 optim
Wellington-Altus' Thorne: 'Sell war, buy peace' and the expansion that's coming
Jim Thorne, economist and chief market strategist at Wellington-Altus Private Wealth, 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
Clearstead's Norton: Oil is the only variable that matters now
Jessamyn Norton, senior managing director at Clearstead Trust, 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 sta
Midas' Winmill: Gold miners have more room to run than the metal itself
Thomas Winmill, portfolio manager for the Midas Funds, 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 intac
Lacking a withdrawal plan, retirees aren't living their best lives
Danielle Labotka, behavioral scientist at Morningstar, 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 n
Schwab's Coffey: Since turmoil, it's a two-sided market and the bears are winning
Alex Coffey, senior trading and derivative strategist at Charles Schwab, 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 ma
Sean Clark of Clark Capital: This is no time for knee-jerk reactions
Sean Clark, chief investment officer at Clark Capital Management Group, 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 a
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 Allspring Global Investments, 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 s
Axel Merk: The market is pricing in a 'fizzle out'
Axel Merk, president and chief investment officer at Merk Investments and the Merk Funds, 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 d
Wells Fargo's Christopher: This market can shrug off a short war
Paul Christopher, head of global investment strategy for the Wells Fargo Investment Institute says that a short conflict in Iran remains his base case, 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 t
Robertson's Garretty says war has put 'recession' back into conversation
Jeanette Garretty, chief economist at Robertson Stephens Wealth Management, 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
StanceCap's Davis sees headline risk stalling - not changing - market rotation
Bill Davis, portfolio manager for Stance Capital 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, w
Aberdeen's Gilhooly on whether the first shots of war were a buying signal
Robert Gilhooly, senior emerging markets economist at Aberdeen Investments, 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, Gil
BlackRock's Jacobs: Current events aren't disrupting long-term investing themes
Jay Jacobs, U.S. head of equity ETFs at BlackRock, 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 gl
Value manager Smead: 'This is one of the most overvalued markets in U.S. history'
Bill Smead, manager of the Smead Value fund, 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'
Hennion & Walsh's Mahn: Headline risks increase volatility, don't stop bull run
Kevin Mahn, president and chief investment officer at Hennion & Walsh, 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 thi
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