Barry Ritholtz on current financial narratives and how the market will debunk them

Money Life with Chuck Jaffe

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No Limit Leadership

1
81: From Nothing to a Billion: The Leadership Playbook They Don’t Teach You w/ Harry L Allen 36:51

منذ 5 أيام36:51

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36:51

Traditional banks often lack personalized service, and local businesses struggle to find true partnership in financial institutions. Meanwhile, higher education faces scrutiny over relevance and ROI in a world where information is nearly free. Harry Allen helped launch Studio Bank to blend technology with high-touch service, fueled by community investment. At Belmont, he's applying the same entrepreneurial mindset to modernize university operations and embed practical learning experiences, like a one-of-a-kind partnership with Dolly Parton, into academia. In this episode, Harry L. Allen, co-founder of Studio Bank and now CFO at Belmont University, unpacks the bold vision behind launching a community-first bank in a city dominated by financial giants. He shares the leadership lessons that shaped his journey, how to lead through crisis, and why mentorship is the key to filling today's leadership vacuum. Key Takeaways Leveraging both financial and social capital creates a unique, community-first banking model. High-tech doesn't mean low-touch, Studio Bank fused innovation with personal relationships. Leadership means showing up, especially during crisis. Universities must shift from being information hubs to delivering real-world experience. Succession and mentorship are vital to cultivating the next generation of leaders. Chapters 00:00 Introduction to Harry L. Allen 01:49 The Birth of Studio Bank 04:29 Leveraging Technology in Community Banking 07:25 The Courage to Start a New Venture 10:37 Leadership Challenges in High Growth 13:02 Leading Through Crisis: The COVID Experience 17:55 Transitioning from Banking to Education 21:16 The Role of Leadership in Higher Education 25:16 Adapting to Challenges in Higher Education 30:04 The Leadership Vacuum in Society 33:17 Advice for Emerging Leaders 35:21 The American Dream and Community Impact No Limit Leadership is the go-to podcast for growth-minded executives, middle managers, and team leaders who want more than surface-level leadership advice. Hosted by executive coach and former Special Forces commander Sean Patton, this show dives deep into modern leadership, self-leadership, and the real-world strategies that build high-performing teams. Whether you're focused on leadership development, building a coaching culture, improving leadership communication, or strengthening team accountability, each episode equips you with actionable insights to unlock leadership potential across your organization. From designing onboarding systems that retain talent to asking better questions that drive clarity and impact, No Limit Leadership helps you lead yourself first so you can lead others better. If you're ready to create a culture of ownership, resilience, and results, this leadership podcast is for you.…

منذ عام واحد 57:18

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Barry Ritholtz, chairman and chief investment officer at Ritholtz Wealth Management, says that investors love a good story, but they tend to put too much stock in them and right now they are looking at a lot of things that either "can't" happen or "must" happen after two big-gain years for the market and they're making misguided decisions. He notes that the economy is likely to continue to avoid recession, especially as the 2020s will be looked back on as a period that pushed technology forward and created productivity and other gains that helped a mature economy keep growing. Chris Vermeulen, chief market strategist for The Technical Traders, discusses why short-term concerns have him on the sidelines right now -- even with the market potentially set to gain another 5 to 8 percent before he expects a downturn -- and what he will need to see to feel comfortable moving back into the market. In The NAVigator segment, Miguel Laranjeiro, investment director for municipal debt at Abrdn, says the appetite for muni-bond assets has been growing at a point when "tax-exempt yields look really attractive."

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#Personal Finances #Lifestyle #Trading #Chuck Jaffe #Investing #Money #Personalfinance #Business #Money Life With Chuck Jaffe

Barry Ritholtz on current financial narratives and how the market will debunk them

Money Life with Chuck Jaffe

91 subscribers

published منذ عام واحد

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2151 حلقات

#Personal Finances #Lifestyle #Trading #Chuck Jaffe #Investing #Money #Personalfinance #Business #Money Life With Chuck Jaffe

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Money Life with Chuck Jaffe

1
Economist Torres expects rate cuts, tariff clarity and more to power a bull run 1:00:07

منذ يومين1:00:07

1:00:07

Jose Torres, senior economist for Interactive Brokers , says that the economy is about to get past tariffs — "the huge negative of the Trump policy mix" — and move to lighter taxation, milder regulations, subdued energy costs, rising factory production and, hopefully, rising employment as well," which creates a bullish outlook for the economy and the stock market into 2026. Torres says he expects the Federal Reserve to begin cutting rates this month and says the central bank has plenty of ammunition to fend off any recessionary pressures left while inflation gets through the initial tariff impacts. Torres noted that IBKR's forecast trader suggests 25 percent odds that the Fed will trim this month, but he believes that's low and that the Fed has been too tight. Kyle Brown, chief executive officer at Trinity Capital , says government policies have been paying off for business-development companies as the private credit markets have seen a spike in demand as a result of the capital expenditures that American businesses are undertaking in order to achieve the government's near-shoring mandates. He says that private credit providers are well-positioned in the current rate environment, but also could benefit from rate cuts reducing costs. Plus Todd Rosenbluth, head of research at VettaFi , turns to a "dividend dogs" fund as his "ETF of the Week."…

Money Life with Chuck Jaffe

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Veteran journalist Greenberg on a stock scam and 'the golden age of grift' 1:00:57

منذ 3 أيام1:00:57

1:00:57

Herb Greenberg, editor of Herb Greenberg's Red Flag Alerts , tells the story of a stock scam that most recently centered on Ostin Technology, a Chinese company traded on the Nasdaq that recently popped to over $9 per share before losing 95 percent of its value in a single day. While the company is a cautionary tale for investors, Greenberg's bigger warning involves similar frauds that spring up around other companies overnight — that are fueled by investor greed and AI-powered fakery — which he describes as nearly impossible to stop or end in what he calls "the golden age of grift." Financial adviser Anthony Holds discusses the latest release from Northwestern Mutual's 2025 Planning & Progress Study, which showed that nearly 70 percent of Americans say financial uncertainty makes them depressed and anxious . Plus, in the Market Call, Dryden Pence, chief investment officer at Pence Capital Management , talks about finding stocks that benefit from being at the chokepoints in the supply chain for the next big thing.…

Money Life with Chuck Jaffe

1
Global X's Helfstein leans into defense tech and cybersecurity for back half of '25 59:29

منذ 4 أيام59:29

59:29

Scott Helfstein, head of investment strategy for Global X ETFs says the fundamentals are strong enough that the market and economy should be in better shape by year's end, provided the wildcards of tariffs and geopolitics don't interfere. Discussing his outlook for the rest of 2025 , Helfstein expects different leadership, noting that he favors low-beta strategies, plus the defense technology and cyber-security sectors. Helfstein says that growth stocks are "more profitable than they have ever been," and says that investors who missed out on the artificial-intelligence boom can get in now at valuations that are reasonable because the industry had a recovery since April that was more sluggish than the rest of the market. Susan Fahy discusses the VantageScore Credit Gauge for May, which showed an increase in early-stage delinquencies, including in mortgages, and whether it's a sign that consumers are starting to struggle. Plus Matt Kaufman, head of ETFs for Calamos Investments , discusses the firm's new " autocallable income fund ," and how it represents less of a step in the evolution of options-based strategies than a "new asset class" for investors looking for high levels of income.…

Money Life with Chuck Jaffe

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U.S. Bank's Haworth has a 'glass half-full view' on earnings, economy and markets 59:16

منذ 5 أيام59:16

59:16

Rob Haworth, senior investment strategist at U.S. Bank Asset Management , says that the volatility and headline risks of the first half of 2025 haven't changed the outlook for the market and economy, which can grind through the rest of the year and into 2026 with modest gains. Haworth acknowledges "a lot of questions still to be answered," but he says that most of the answers will be within degrees of expectations, and a lack of surprises should allow the market to grind higher. That said, Haworth said investors will want to be properly diversified to protect themselves against the volatility and the news risks. David Trainer of New Constructs puts Carvana back in The Danger Zone, noting that the stock — which he first singled out in April of 2019 — has roared back from a low of $4 per share in December 22 to gain more than 50 percent year-to-date and nearly 150 percent in the last year, rising to a stock valuation "that implies that Carvana will sell as many vehicles as General Motors." Plus Greg McBride, chief financial analyst at BankRate.com , on their latest survey research, which showed that 60 percent of Americans are uncomfortable with their current level of emergency savings , and half of Americans don’t have enough emergency savings to cover three months’ expenses.…

Money Life with Chuck Jaffe

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Mackenzie's Reid expects a jumbo cut from the Fed in September 58:00

منذ 8 أيام58:00

58:00

Dustin Reid, chief strategist for fixed income at Mackenzie Investments , says he expects the Federal Reserve to hold off on rate cuts in July, but to be moved into making a double cut — half a percent — in September, and worries that the central bank may be waiting too long to act, as the labor market is starting to show some cracks. Reid said a bigger cut might be taken as a positive by the market if inflation hasn't spiked, labor markets are slow but steady and the action suggests that the Fed is trying to stay ahead of the action. That action and uncertainty has Reid favoring intermediate bonds now, with two- to five-year maturities. John Kosar, chief market strategist at Asbury Research , says he is risk-on right now, being fully invested and continuing to ride the wave that started churning after the stock market bottomed out in April. Kosar acknowledges that the market's rebound has been fast and big, and so he's expecting a reversion to the mean that would push him to a risk-off position, ahead of what he considers a foreseeable market tumble. Plus, in The NAVigator segment, Mike Schueller — co-manager of the Allspring Income Opportunities fund — says he foresees a "muddle-through economy," which is actually a good environment for high-yield bonds, which face little default risk at a point where recession has "receded into the background."…

Money Life with Chuck Jaffe

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Investors lower expectations from 'outrageous' to 'almost reasonable' 1:01:44

منذ 9 أيام1:01:44

1:01:44

David Goodsell, executive director of the Natixis Center for Investor Insight , discusses the firm's 2025 Individual Investor Survey , which shows that investors were so satisfied with the 20-plus percent gains of 2023 and '24 that they are expecting less this year, but they have only dropped their expectations from roughly 17 percent down to about 12 percent, and Goodsell notes that financial advisers sugest those numbers aren't realistic or responsible. Goodsell says he believes the market is heading towards "a new age of diminished expectations." Sociologist and author Juliet Schor discusses her latest book, " Four Days a Week: The Life-Changing Solution for Reducing Employee Stress, Improving Well-Being, and Working Smarter , leaning into whether the business community and the government could ever adopt a massive workplace change on a broad scale. Todd Rosenbluth, head of research at VettaFi , leans into current events to examine an advocacy fund with his ETF of the Week, and Chuck answers a listener's question about the "Buy, borrow and die" strategy a financial adviser is pitching to his friend's elderly, wealthy mother.…

Money Life with Chuck Jaffe

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BNP Paribas' Morris says 'neutral' may be the best bet for this market 57:54

منذ 10 أيام57:54

57:54

Daniel Morris, chief market strategist at BNP Paribas Asset Management , says he sees continued expansion in the United States and a slowing in Europe and other international markets, which contributes to why he is mostly neutral on allocations, as tariff plays and international stimulus efforts and more creates positive potential around the globe. Morris says a neutral stance makes sense because there is so much uncertainty right now that it is hard to have strong convictions about what the market can do next. Indrani De, global head of investment research for FTSE Russell discusses the ongoing Russell Reconstitution — the exercise of changing benchmark indexes to reflect corporate evolutions and avoid surprises — and what the current effort (which becomes final on Friday) reveals about the stock market and the breadth of growth now. Plus Mark Hamrick, senior economic analyst/Washington bureau chief at BankRate.com , discusses current levels of consumer sentiment which show that nearly two-thirds of Americans are expecting that tariffs will have a negative impact on their personal finances.…

Money Life with Chuck Jaffe

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PGIM's Mintz says bargain hunters should look to emerging markets 59:45

منذ 11 يومًا59:45

59:45

Stacie Mintz, head of quantitative equity for PGIM Quantitative Solutions , says that equity valuations in emerging markets are at their most attractive level relative to U.S. stocks in decades. That's not a surprise, as emerging markets have underperformed domestic markets for the last 13 years, but Mintz says the time has come for diversification to pay off. While the headline risks of tariffs, trade wars and geopolitics loom large,she said current values are compelling enough that investors should be comfortable waiting for a payoff when the news cycle calms down. Jasmine Escalera discusses a survey done by LiveCareer which showed that "ghost job postings" — listings for phantom jobs that don't exist — have become a staple of the hiring process for nearly half of all American human-resources pros . Plus Richard Howe, editor of the Stock Spin-off Investing newsletter , returns to the Market Call, talking about what can make spin-offs attractive, compares the roll-out of subsidiaries to the initial public offering process and discusses howlong spin-off effects linger.…

Money Life with Chuck Jaffe

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Veteran manager Shill sees a complacent market facing big downside risks 58:37

منذ 12 يومًا58:37

58:37

Ed Shill, managing partner at the Wealth Enhancement Group , says he sees the market either continuing to climb the proverbial wall of worry or getting complacent, and he fears that it's the latter after the sharp rebound from April's decline. "Right now the market is overbought," Shill says in the Market Call, where he recommends "putting airbags on," using stops to lock in profits and being prepared to step back from markets until conditions improve. In The Big Interview, Sam Millette, senior investment strategist at Commonwealth Financial Network , says that the Federal Reserve faces a challenge getting the market to understand its motivation for any rate cuts it makes later this year. He expects a rate cut later this year, likely in September, but he says the reaction of the market — whether it gives the classic bullish response or if it reacts as it did in 2024 when cuts had less impact than expected, particularly on bond markets — will depend on what the market thinks is the Fed's motivation for a cut. Plus, Anthony Holds of Holds Wealth Advisors discusses the latest results from Northwestern Mutual's 2025 Planning & Progress Study, in which nearly 70% of Americans reported that financial uncertainty has made them feel depressed and anxious .…

Money Life with Chuck Jaffe

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Invesco's Levitt: Expect lower earnings, higher volatility and modest market gains 56:17

منذ 15 يومًا56:17

56:17

Brian Levitt, global market strategist at Invesco , says that he came into the year expecting that the growth and inflation backdrop would support reasonable corporate earnings that could push the market higher. He still believes that -- despite expecting a slowdown, struggles with increased market volatility and higher inflation as a result of tariff impacts -- and said that modest earnings growth will result in single-digit equity gains for the rest of the year . Levitt made the case for expanded international investments, but said he would lean into quality as a factor, noting that high-grade companies will give the most shelter if the storm clouds deliver more trouble than Levitt and Invesco are currently forecasting. Certified financial therapist Nate Astle discusses a B eyond Finance study which showed the deep connections between financial strain and emotional well-being , suggesting that money isn't just a numbers game but a mental-health issue. Plus John Cole Scott, president of Closed-End Fund Advisors , answers listener questions about closed-end funds and whether premiums and returns of capital are as bad for investors as they are cracked up to be, whether interval funds are worth the illiquidity risk and more.…

Money Life with Chuck Jaffe

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NY Life's Hermann: 'We have a lot of risk and almost none of that is priced in' 54:38

منذ 17 يومًا54:38

54:38

Julia Hermann, global market strategist at New York Life Investments , says she is concerned about market volatility for the remainder of the year, especially as tariff impacts work their way further into the economy and as we see some resolution on their status. While tariffs pose the risk of creating an exogenous shock — precisely what Hermann worried about triggering a recession when she last visited the show in February — she says that recession risk now is actually lower than it was when trade policies were made public in early April. She also discusses the firm's 2025 MegaTrends report , which looks at global debt investing, talking about how deficit spending and other concerns will impact credit markets over the next decade. Greg McBride, chief financial analyst at Bankrate.com , checks in ahead of today's Fed meeting and announcement on what he expects from central bankers for the remainder of the year and whether cuts — whenever they start — will have the classic result investors are clamoring for. Plus Todd Rosenbluth, head of research at VettaFi , makes a play on the market's recent momentum with his pick for the "ETF of the Week."…

Money Life with Chuck Jaffe

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Wells Fargo's Christopher expects market, economic pullbacks through the end of '25 58:11

منذ 18 يومًا58:11

58:11

It's a tale of two forecasts on today's edition of Money Life, as two experts come to very different conclusions of how 2025 will play out. In The Big Interview, Paul Christopher, head of global investment strategy for the Wells Fargo Investment Institute says he expects the market to drop "5 to 10 percent easily" as tariffs, accompanying inflation and a slowing economy take hold during the third quarter and stick around for at least six months. Christopher notes that surprises could push the market down even further, back to or past April lows, but he noted that he'd be buying there, because he believes the United States was oversold early this year and will represent a particularly good value once it digests the expected downturn. In the Talking Technicals interview, however, Matt Fox, president of Ithaca Wealth Management , sets a 7000 target for the Standard & Poor's 500, up about 20 percent from current levels in the next 12 months. Fox says the sell-off in April did a lot of the "technical damage" necessary to set up a rally, and has us now at a point where "the path of least resistance is higher." Fox's forecast, however, also is based on solid fundamentals, which he believes can overcome the current headline risks that are dominating the landscape now. Plus Drake Shadwell discusses the latest research from Clever Real Estate showing the current trends on how long houses are staying on the market and what that means for the strength or weakness of the economy.…

Money Life with Chuck Jaffe

1
Northwestern Mutual's Schutte: Markets won't be 'straight up and to the right' 57:46

منذ 19 يومًا57:46

57:46

Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Co. , says that "Asset classes don't die, they just go to sleep for awhile," and they wake up when there are changes to the macroeconomic backdrop. He says that domestic strategies about trade, tariffs and global defense represent that background change, which is why he's recommending diversification, and considering commodities, international stocks and more. Schutte says he's expecting rate cuts late in the year and thinks the economy can avoid recession, but not a slowdown. David Trainer, founder and president at New Constructs, finishes the firm's three-week look at troubling dividend trends, this week focusing on "dividend traps," companies where the current price is so high that a big decline would mean that the dividend isn't worth sticking around for. Previously, New Constructs featured "fake dividend stocks" and "false dividend stocks" in The Danger Zone. Plus economist Brian Lewandowski of the University of Colorado Boulder looks at the June 2025 Outlook Survey from the National Association for Business Economics, out today, which showed that economists expect sluggish economic growth and persistent, higher inflation into 2026; on average, the economists felt those conditions were not likely to create a recession.…

Money Life with Chuck Jaffe

1
LPL's Turnquist: 'You want to be buying dips and not selling rips right now' 1:01:03

منذ 22 يومًا1:01:03

1:01:03

Adam Turnquist, chief technical strategist at LPL Financial says he expects the market has enough momentum to break through to new record highs, and soon. Led by tech stocks, Turnquist expects the move off the April lows to continue, though he acknowledges that the macro backdrop "is extremely messy." If the market can overcome trade uncertainties, Turnquist says that when new highs are achieved three months apart, it is typically a good sign that a volatile market can continue overcome bad news and continue upward trends. The NAVigator segment features an interviewed taped in New York at the Active Investment Company Alliance BDC Forum with Tonnie Wybensinger, head of government relations for the Small Business Investors Association , an industry advocacy group who discusses current legislation that would give BDC investors a tax break and how legislation on esoteric subjects like business-development companies gets passed. Natalie Iannello, discusses a Howdy.com survey which showed that the average American now believes they need $105,000 a year to live comfortably , which is a problem when you consider that other research shows the average American salary at about $66,000. Plus, it's Chuck birthday, and he shares a birthday wish for his financial situation, and yours.…

Money Life with Chuck Jaffe

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Oppenheimer's Penn is watching how credit losses weigh on BDCs 54:01

منذ 23 يومًا54:01

54:01

Mitchel Penn, managing director at Oppenheimer & Co. — interviewed at the Active Investment Company Alliance BDC Forum in New York on Wednesday — says that credit losses for business development companies during the first quarter of 2025 were more than double the level they have been at for the last few years. He says some of that increase could be attributed to the market's reaction to government policies, but that it also could be that interest rates have stayed higher for so long now that they are starting to create credit-quality issues. He said BDCs can still deliver returns in the range of 9% moving forward, though he warned that an increasing number of business-development companies may struggle to earn their dividends, making it important for investors to be avoid simply chasing a high yield. Also from the BDC Forum, Bob Marcotte, president at Gladstone Capital Corp. , discussed how government policies are encouraging business investment and capital expenditures which should create outstanding conditions for private credit, and therefore BDCs, to shine. Plus, Todd Rosenbluth, head of research at VettaFi , checks in with a short-duration Treasury fund that uses options to goose its yield as his ETF of the Week, and Chuck discusses the growing threat to investors and the economy from breakdowns and cuts impacting the way the country's economic statistics are tracked and maintained.…

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Money Life with Chuck Jaffe « » Barry Ritholtz on current financial narratives and how the market will debunk them

Barry Ritholtz on current financial narratives and how the market will debunk them

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Barry Ritholtz on current financial narratives and how the market will debunk them