Money Life With Chuck Jaffe Daily Podcast

Cheryl Smith, economist and portfolio manager at Trillium Asset Management, says the equity market is "very excited, very ecstatic and continuing to move up," but she warns that stock valuations are extended and she says the market is setting up a fall. Smith says two phrases -- "The Emperor is wearing no clothes" and "The band played on" -- tell the story of this market, but she expects that when the investing public wakes up to see damaging impacts of tariffs and other policies, the market will fall hard. She's not expecting that turn soon, but she says it's unavoidable if current policies are followed through to their economic conclusion.   Vijay Marolia, chief investment officer at Regal Point Capital, brings his "five-lens approach" to stock research to the Market Call. He warns that investors should be worrying about euphoria over recent market results, noting that if your bartender or barber is giving you stock advice, it's a sign that the market is overbought and investors should be patient. Natalie