Joe Keefe, president of Impax Asset Management and the Pax World Funds, says that investors should be focused on good news about the economy, balancing out concerns with inflation and interest rates to come away expecting a pretty good year in 2022. Keefe doesn't expect the market to see the kind of high returns it has delivered this year, but he says the economy still has a lot of potential to grow to make the new year better than many expect. Among those not seeing great things ahead is Scott ...
Nov 30, 2021•59 min
Arnim Holzer, global macro strategist at Easterly EAB Risk Solutions, says that he is concerned that investors don't understand just how badly their portfolios will perform in 2022 when interest rates start to rise. The way tech stocks and high-momentum sectors of the market are already reacting, Holzer said, should make investors cautious and have them looking at financial stocks and insurance companies, plus utilities, going forward. Also on the show, Ted Rossman talks about the latest Bankrat...
Nov 29, 2021•59 min
Abhay Deshpande, founder and chief executive officer at Centerstone Investors, says that tech and growth-oriented investors could see some trouble ahead, as growth rates slow from Covid-era comparisons, leading to a potentially significant correction next spring. Value investors -- and Deshpande is one -- should see their methods continue to pay off because they don't rely on continuing multiple expansion to drive their profits. Also on the show, Gaal Surugeon, portfolio manager at Brookfield As...
Nov 26, 2021•1 hr
Two portfolio managers provide a lot of reason for investor optimism in today's show, with Larry Cordisco of Osterweis Capital Management discussing 'pockets of opportunity' in the market, highlighted by quality names that have actually been lagging behind the market as it has returned to record-high levels. Cordisco sees opportunities in dividend-paying stocks, which is particularly important for investors looking for income. Meanwhile, Jack Janasiewicz of Natixis Investment Managers says that ...
Nov 24, 2021•58 min
David Wright, lead portfolio manager at Sierra Investment Management, says that the market is currently so overvalued that it has a lot more downside room to run than upside. While Wright remains fully invested right now -- and isn't calling for a major reversal in the immediate future -- he cautioned that investors should be looking to protect gains from heightened market volatility ahead by using stop-loss orders on their biggest and most risky positions. Also on the show, Leo Leydon of Financ...
Nov 23, 2021•1 hr
Brad McMillan, chief investment officer for Commonwealth Financial Network, says that the inflation spike created by the global supply crisis that has pushed inflation to the 6 percent level will last for another three to six months before fading, but he notes that there are structural elements that are also pushing inflation higher, and those conditions are not transitory. As a result, he expects inflation to retreat to the 2 to 3 percent range later in 2022 and to remain there for the next thr...
Nov 22, 2021•59 min
Ed Clissold, chief U.S. strategist for Ned Davis Research, says that the market has room to run into next year, but that 2022 is likely to see much more volatility and much slower growth, even if inflation concerns start to fade and interest rates don't move dramatically higher. Clissold expects an earnings environment that is less friendly, traditional mid-term election year doldrums and more to hold the market to an average year overall, but with more pullbacks and downturns en route to that p...
Nov 19, 2021•1 hr
FeiFei Li, head of equities at Research Affiliates, says that any negative shock to the market could cause a 'very big correction,' but even without that kind of surprise events, she says that 'the market is facing a risk of delivering negative returns in the second half of 2022.' Despite the changing environment, Li is bullish on value investing moving forward, saying it should come to the fore as the market struggles. In the Market Call, Michael Campagna, senior investment analyst at Moerus Ca...
Nov 18, 2021•1 hr
Jack Ablin, chief investment officer at Cresset Capital Management, says that current market valuations are at the top of their historical ranges, so 'anyone who is bullish on the market isn't going to be making a valuation argument.' Yet Ablin makes the argument that the market has room to run because the economic underpinnings remain strong and the Federal Reserve is still keeping liquidity strong despite inflation fears. Ablin discusses the wildcards that could change conditions in a hurry, b...
Nov 17, 2021•59 min
Brian Barish, president and chief investment officer at Cambiar Investors, says that the Chinese government is changing the global investment picture and has him concerned about investing there, noting that investors can prosper from the growth of China's economy without facing the fire directly. Barish also notes that current financial conditions in the United States are 'generous,' leaving them mostly one way to go from here, making it that investors should think about protecting profits and l...
Nov 16, 2021•1 hr
Lou Harvey, president and chief executive officer at DALBAR Inc., says that investors can get unbiased advice that's in their best interest from the many new online 'robo advisor' platforms, but the trade-off is that the quality of advice is lower than hiring a human adviser. In the firm's most recent 'Best Interest Analysis,' DALBAR found significant issues with traditional advisers failing to work in the best interest of the client, a discrepancy he said is largely stemming from regulations wh...
Nov 15, 2021•59 min
Clyde McGregor, portfolio manager for the Oakmark Equity and Income fund, says that while investors are using stocks now to deliver income the way fixed income has always done, it doesn't mean that investors should throw balance out the window. He notes that the point of a balanced portfolio is the ability to withstand volatility and rapid changes in the environment, and notes that portfolios remaining relatively close to a classic 60-40 stocks/bonds allocation continue achieving that, even in t...
Nov 12, 2021•1 hr
Ryan Detrick, chief market strategist for LPL Financial, says that the current bull market -- coming on the heels of a short, steep recession/bear market at the beginning of the pandemic -- is in its early stages and will roll into 2022 and beyond. He notes that for as long as economic growth and earnings stay strong, buoyed by monetary and fiscal policy tailwinds, 'there's still some time, we think, for this bull market to have some tricks up its sleeves and keep on rolling.' In another Big Int...
Nov 11, 2021•56 min
Craig Callahan, chief executive officer at ICON Advisers, says that while the stock market has returned to record levels, he's not seeing the overpricing that is typical or a market peaking. Instead, stocks have further to run to reach fair value; he does see this bull run acting differently right now, with 'much more straight up -- and less down days -- than a typical bull market.' Callahan says that he expects the rally to continue until interest rates start to rise, which could squeeze valuat...
Nov 10, 2021•1 hr
Dan Zanger, chief technical strategist at ChartPattern.com, says that the stock market is the best and strongest he has seen since 1999 and he expects it to keep running through to the end of the year, but then he believes there will be a sell-off, a correction that takes the top off the market and helps it set a new base for further upside in 2022. Zanger says the market has plenty of energy and room to run so long as the Federal Reserve doesn't change policies and stop its momentum. Also on th...
Nov 09, 2021•59 min
Brad Lamensdorf, editor of the Lamensdorf Market-Timing Report and manager of the Ranger Equity Bear ETF, says that while the market is at record levels, valuations are not so high that it's particularly easy to find shorts. In the Market Call segment, Lamensdorf discusses how it's a stockpicker's market, both for long investors and short-sellers, with rising indexes having masked a lot of individual opportunities. Also on the show, Mark Hamrick, Washington bureau chief at Bankrate.com talks abo...
Nov 08, 2021•1 hr
David Keller, chief market strategist at StockCharts.com, says that the seasonally strongest part of the year has arrived and the stock market is looking like it will hold to that seasonal tendency this year. He notes that while the market is overdue for a correction, there doesn't need to be a sharp sudden drop, because the market can correct in time -- moving sideways for longer -- rather than by price, a situation that he thinks will put a premium on stock-picking now. Keller wasn't the only ...
Nov 05, 2021•59 min
Laura Geritz, chief executive officer at Rondure Global Advisors, says that she thinks the domestic stock market rally is late in its current cycle with inflation no longer feeling transitory, noting that she now believes it will take a significant interest rate hike of 1 percent or more to slow growth, but not ruling that kind of move out in the face of rising inflation. Geritz worries that China currently reminds her of Japan in the 1980s, building a bubble around real estate, which she says w...
Nov 04, 2021•1 hr
Chris Davis, chairman of Davis Advisors, says that value investors can't rely on the classic approaches but must instead seek out a mix of 'undervalued growth companies and value companies that can grow,' a more hybrid investment style that has been working even in times when traditional value investing has struggled. Further, he notes that investors should forego most bond holdings in favor of high-grade financial stocks, noting that he expects a decade of substantially rising dividends in the ...
Nov 03, 2021•59 min
Karl Mills, president of Jurika, Mills and Keifer, says that investors should be looking for current market imbalances, watching for the shift that lies ahead, which will move them from growth to value stocks, from domestic to international markets, from large-cap to small-cap issues and more to stay ahead of changing winds that will make it harder for the market's recent success stories to keep going strong. Also on the show, Sean Cox of Gainbridge discusses how the firm is not only changing th...
Nov 02, 2021•1 hr 1 min
Freddy Garcia, vice president of Investments for Left Brain Wealth Management, says that investors who hire advisers to help manage their money need to get appropriate help picking and selecting stocks, bonds and mutual funds, rather than simply following cookie-cutter programs. Garcia says that many advisers provide 'planning,' without doing high-conviction investment selections, ultimately leading to a time when clients are unhappy because their broad financial plan isn't meeting their return ...
Nov 01, 2021•1 hr 4 min
After two days lost to power outage at Chuck's studio, the show returns with John Petrides, portfolio manager at Tocqueville Asset Management, reminding investors to keep their eyes on the prize for their ultimate goals and not let volatility and downturns shake them out of the market, turning paper losses into real pain. Petrides says his team has been in a buy-the-dip mentality since the start of the pandemic and that hasn't changed as the recovery has played out, particularly because the alte...
Oct 29, 2021•1 hr 1 min
Two very different interviews come to the same kind of conclusion on today's show, with Brian Levitt, global market strategist at Invesco, noting that inflation and other concerns aren't hurting corporate profits, and those strong profits are helping to improve valuations, setting up the market's next solid move upward, and Avi Gilburt of the Elliott Wave Trader saying he expects the Standard and Poor's 500 to move to nearly 5,000 before a pullback that sets up a big move that should get the ind...
Oct 26, 2021•59 min
Bill Schultheis, author of the landmark financial book 'The CoffeeHouse Investor,' discusses how the simple rules of his popular effort -- involving diversification, minimizing costs and saving hard -- remain the key to success in a world caught up in meme stocks, cryptocurrencies and other shiny, sparkly financial products. Schultheis talks about how investors can stay simple yet successful now. In other interviews today: David Trainer of New Constructs puts the Rivian IPO in the Danger Zone, n...
Oct 25, 2021•1 hr
Frank Holmes, chief executive at U.S. Global Investors, says that the big trade he's making now involves gold, which he says are cheap relative to technology stocks, which are raising dividends and which are poised for a big mean-reversion snap-back. Holmes -- who also is chairman at Hive Blockchain -- also discusses crypto currencies, the new bitcoin-related ETF, the broad market and more. Also on the show: Larry Holzenthaler of Nuveen discusses why investors should diversify income-producing h...
Oct 22, 2021•59 min
Tom Lydon, chief executive officer at ETFTrends.com, says that the ProShares Bitcoin Strategy ETF launched this week will be one of the biggest new ETF launches of all time and is worth the hype, even though the fund is built around bitcoin futures rather than tied directly to the cryptocurrency. Lydon explains how the new fund works and the prospects for new and different crypto funds coming out of the registration pipeline soon. Also on the show, author Becky Hall discusses 'The Art of Enough'...
Oct 21, 2021•1 hr
Marshall Stocker, co-director of the emerging market team for Eaton Vance Management, says that in the face of global inflation and a waning pandemic, emerging markets countries are addressing issues in a more conventional or orthodox manner than developed countries, which he sees as bullish as it should help those countries to sidestep the fallout from a decade of zero-rate policies from the last decade. It has emerging markets, Stocker says, looking much more like a traditional asset class and...
Oct 20, 2021•1 hr
Willie Delwiche, investment strategist for All Star Charts, says that the messy, sloppy range-bound market that we've seen since February is going to continue sideways for a while but ultimately will resolve itself to the upside, confirming a consolidation that is healthy for the long term. Delwiche believes the next rally will be led by different types of stocks -- financials instead of tech stocks, mid- and small-caps instead of large-caps -- plus commodities and more. Also on the show, Amy Ar...
Oct 19, 2021•59 min
Jared Bibler, author of 'Iceland's Secret: The Untold Story of the World's Biggest Con' discusses the collapse of the frontier market's economy and market in 2008, a chapter in financial history largely unnoticed in the US because America was going through its own financial crisis, caused by the collapse of Lehman Brothers. Bibler notes that the three Icelandic banks that imploded at that time were -- to the small country's economy -- ' the size of 300 Lehman Brothers' representing about 90 perc...
Oct 18, 2021•59 min
Market strategist Larry McDonald, creator of The Bear Traps Report, says that with inflation holding at a higher trajectory than the last 10 years, investors need to move away from growth stocks and head towards commodities and hard-asset companies plus value stocks moving forward. In another Big Interview segment, real estate expert Brian Icenhower of Icenhower Coaching and Consulting says the nation isn't facing a housing bubble -- which will burst and dissipate -- so much as a housing crisis,...
Oct 15, 2021•59 min
