Regions' Thurber isn't expecting big troubles for the market in '26
Brandon Thurber, chief market strategist at Regions Asset Management, says climbing the proverbial wall of worry has "supercharged the market," making it hard "to find reasons to be anything less than positive and constructive for 2026." While he worries that the message could be that "The only thing you have to fear is fear itself" — and he describes in The Big Interview the real fears that he feels could blossom into problems — he doesn't expect conditions to change much from 2025, and is mostly encouraged about domestic and international markets. Ken Berman, strategist at Gorilla Trades, says that he'd be foolish to say that now is a great time to buy after three strong years, but he believes the path of least resistance for the market is to go higher, and that's what he thinks will carry the current rally well into the new year. Like Thurber, Berman says he wouldn't want to get in the way of the market right now, and makes it clear that while there are reasons to be nervous he "wouldn't want to be short here." John Cole Scott, president of CEF Advisors, looks at tax-loss selling season and whether it has started yet, noting that a few asset classes have largely been able to avoid situations where there will be widespread harvesting this year, while others — most notably business-development companies — may be poised for a lot of tax-driven reshuffling before year's end. Scott also answers some questions on the value of tax-loss harvesting if it means selling a fund you like, and how he recognizes yield traps and spots big discounts that are poor buying opportunities.
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Altimetry's Litman: 'We think this market is still a screaming bull'
Joel Litman, founder/chief investment officer at Altimetry Research, says that investor worries about valuations are overblown because "good data" shows that current conditions are more like the mid-1990s — the middle of a bull market — than 2000 when the Internet bubble burst. He says in the Market Call that with real core earnings growing for a lot of companies, valuations are still reasonable, which is why he says current conditions make for a screaming bull market with several years where it can keep running before investors should get worried and nervous. Brad Neuman, senior vice president/director of market strategy for Alger, says in The Big Interview that if technology spending in artificial intelligence had been removed, the economy would have gone through a recession in the first half of the year, but that also means that a lot of the pressures from a downturn have passed. With the AI boom in "the very early innings," he sees the economy strengthening next year bringing the stock market to higher levels with it. Todd Rosenbluth, head of research at VettaFi, makes a tactical play with a new, actively managed corporate bond fund from a brand-name money manager as his ETF of the Week.
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Trustage's Rick sees inflation at 3.2%+, but no recession in '26
Steve Rick, chief economist at TruStage, says he expects inflation to rise to roughly 3.2 percent early in 2026, and says that increase — a long-awaited after-effect of tariffs — to mute the impact of interest rate cuts and other policies. Still, he stopped short of calling for a recession, noting that he thinks the market can overcome extremely high valuations to move forward modestly. He does think the economy may be moving into a period where it supports flat or slow growth for several years, but said it can avoid a crash or a bubble popping if it can avoid nightmare scenarios that he says currently look more hypothetical than threatening. Kerry Pechter, editor and publisher at Retirement Income Journal, discusses his recent piece on what he calls "The Private Credit Instability Hypothesis," which looks at how the growing popularity of private-credit investments could be setting up a future fall akin to the subprime mortgage situation that presaged the Great Financial Crisis. Pechter is concerned that insurance companies — buying private credit to generate higher returns on annuities — will wind up holding the bag on bad paper if there is a breakdown in private-credit markets, and he believes that private credit markets will keep expanding and experiencing more demand up until the point "when something breaks." Vicken Yegparian, executive vice president at Stack's Bowers Galleries, discusses the upcoming auction of an 1804 coin — considered to be "the king of the dollars" — that stunned coin collectors because it involves the 16th version of a coin where only 15 copies were known to exist. He explains how the coin was authenticated and why it may draw more than $5 million on the auction block.
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FTSE Russell's De sees the biggest opportunities overseas in 2026
Indrani De, head of global investment research at FTSE Russell, says that there are tailwinds in place — from currency fluctuations, valuations and geopolitical changes — that make developed markets outside of the United States look particularly promising for next year. She says in The Big Interview that correlations between domestic and international markets have been greatly reduced in the last two years, which raises the benefits of diversification, and she suggests that spreading money around will pay off in both returns and in lowering portfolio risk, particularly if spending and investing in artificial intelligence slows and stops masking other market weakness. David Blanchett, head of retirement research at Prudential, discusses the firm's 2025 Global Retirement Pulse Survey, which showed that mass affluent investors around the world feel ready for retirement, but that — perhaps because of their wealth — they haven't actually taken action to ensure that they're properly prepared. This lack of preparation means they haven't secured dependable income for life, nor have they adequately protected their nest eggs against downturns and market changes. That study shows that many investors could use a financial blueprint, and today's show covers that idea too, with Jeff Panik, author of "Your Future Is Now: Your Blueprint for Solving Your Retirement Puzzle." In the Book Interview, he discusses how investors who have amassed money without a plan can implement one around and with the investments they have made, and that planning does not require a complete overhaul. But even as they start to plan, Panik says every investor needs to take a "Financial Life Inventory," which goes beyond calculating net worth to take a complete picture of a person's financial situation.
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After 2025 struggles, Americans expect a bounce-back in '26
Sonia Fraher, head of cash management at Vanguard says that while nearly three-quarters of Americans say they will fall short of their saving and spending resolutions for this year, most are optimistic that they can pull off a "resolution rebound" in 2026. Vanguard's survey research showed that 84 percent of Americans expect to make a financial resolution for 2026, with building the emergency fund being the most common goal. In honor of the holidays, David Trainer of New Constructs revisits the Damger Zone pick he is most thankful for this year, due to its success as a short pick. Rob Williams, managing director of financial planning for Charles Schwab, discusses the firm's research showing that two-thirds of Americans believe they must look beyond traditional investment products like stocks and bonds to further diversify and succeed in today's market. More than 40 percent think the classic 60/40 portfolio is outdated. Plus, Jake Cousineau, author of "Face Your Financial Fears: The Simple Guide to Fixing Your Relationship with Money," discusses how Americans grow up surrounded by money misconceptions that they must overcome to reach their goals.Â
Money Life with Chuck Jaffe is leading the way in business and financial radio. The Money Life Podcast is a daily personal finance talk show, Monday through Friday sorting through the financial clutter every day to bring you the information you need to lead the MoneyLife.
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