Apr 21, 2016|
Full Show 4-21-16 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and chokes on. You're exclusive look good business and financial news affecting your day your city your own. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and sharks are. How much vacation time this chuck exotic yet. Go to mount apparently pulled. Who's just out skiing or something you'd yup. Now we're isn't in Aruba Aruba Aruba is the ever coming back to work I wondered the same thing actually some are listeners are saying that that John McCain should stick around the lobby John. Well you know I feel like I've earned tenure yet. It's a long time ever challenger. Publicly against it well played her well I'll put it. Pay its earnings season and I don't know for me John is my favorite times a year. Are the beginning of the month when we get the job report that it's like Christmas every month. And then I love Thursdays as we the weekly jobs report. But today we just got all these earnings and that's. We can just do two hours on earnings I think you've earned your keep degree I I read where they went to graduate with what turned you on this I don't doubt. But the big story today General Motors what do blockbuster report. Yes Bobbie you know we were talking about that will birds had a big article treat general motor last weekend about how cheap stocks were. I saw an interview with the CFO this morning. And it just seems like it's still very much and on loan sector even though they're making money hand over fist yet continues to profit. More than doubled last quarter we knew things were good but other even better than we expected. A dollar 24 sheared 24% above expectations. Strong truck and SUV sales which we talked about. High dollar high margin products are rolling off the shelves their decline in US market share which again we talked about it. They're giving up market share in return for profitability Mary Berry allowed that. He should try to run a real business or she's not selling the big fleet vehicles she's not gonna take an order from the state police where she loses money she's not gonna take him an order from Hertz Avis where she loses money. Here's the report card. She actually lost market share in a quarter where she blew away earnings up. Ironically this is the quarter four became the number one auto maker in sales but not profitability while because the Arctic air they are sucking up all those weak sales which is low margin business. They broke even in Europe which is a huge story because they lost 200 million dollars last year they lost about a half a billion dollars in the years before that so that's a big improvement they're predicting profitability in Europe full year and here's the really interesting twist. The IPO came public years ago at 33. Dollars a share is now they're trading that's exactly what they're trading for now with the yield. Almost 54 point 7%. And so you get paid pretty nice while you're waiting and it PE about a third of the market that market places saying we think this is the top of the market. That we think this is cyclical business and as the top the worst thing interesting story here in in earnings the companies come through with a bigger earnings they're doing great. The market saying. We think this is as good as it gets the cup coming up with better earnings they're saying. Maybe this is that it suggests that reverse recovery have reversed reverse psychology I jobs report coming in. Best data that we've had in terms of weekly jobless claims this is information it gets released. Every Thursday morning at 830 and for as long as I've remembered John night I've used this as a major indicator. 247000. Jobs lost last week the lowest the numbers and I think actually in 43 years 42 year low pretty positive affect tour 47000. Vs 263000. Expected. Down 6000 for the week. Should point out this is a very volatile numbers so week to week doesn't mean much to say what does mean a lot Derry trend line now. 159. Straight weeks bill low 300000. 300000 this year your breakeven mark pretty electric better than that is no lower than that is good. Higher than that is that we've had 59. Straight weeks of good news when do we get. Wage growth I know people are listening to show they're driving to work its annual great day's news people are losing their jobs supposedly the job market's great Ivan had a raise in three years. When it at what point. Do we start to see more consistent. Wage growth. That would be I'd like he wage growth in the neighborhood of a three to 4% because that would be in excess of the inflation. I'll give you the Larry Kudlow answer that you get 2% growth he did an OK economy like we cut the last three years. Good job growth. Eat any of 3% economy public if you wage growth 5%. Easily fan ever gonna get the wage growth without tax cuts. And now that exact Audi is it is obvious response but he saying it if you would get growth or else it will take care of the problem of wages. Deal own shares in Verizon and many of you are still on strike oh by the way. I wanted to share our experience with Verizon right. So our office manager goes to our brain entry facility. And to be the Verizon guy shows up on time 9 o'clock on Matthews Tuesday or Wednesday that he showed up turns out he's a home office attorney. That they put out on the field and using human technology to pass through it took him seven hours to fix from. Seven hours a long time and Susan was issues where he was very nice that are ultimately the office manager. Yet nice guy but I mean. They've got to be falling behind you on that work if it takes. Because if you eat a regular Verizon tech like when is the last time it takes a Verizon tech. Seven hours to solve a problem usually if like I had a problem at my house or my business with Verizon. There in and out half and Alia in ops yeah update I yet do this rewire that push this button will get back in our. The story is a lawyer by trade he's never done this he's on the phone with the home office it's okay now puts the purple abut. But on court. News probably with the facetime don't know everything you know now what about those but not the the host building to blow up a nuclear attack them and that would. Well anyway. Verizon in the news. They didn't beat expectations. They met expectations. Yeah I made kind of a black quarter for Verizon at dollar six net and earnings heavy promotions. Helped lift its post paid subscribers. There's a real war going on them in the wireless side of the business. It's a low margin business servers do whatever it takes to get share 50% four touch your bill. So that's hurting them just trying to tread water revenue a bit light shares though. In fairness Sharon shares are up 17%. The last three months so today the market's down. The stock is weak because of met expectations the stock has been. Now they did make a purchase of a virtual reality company which is kinda cool. You know the I I do I'm really down on them I'm hearing rumors that they might be buying Yahoo! for eight billion dollars and they do that I'm not be happy. But I do like this purchase of a virtual reality company yes the virtual reality and 360 degree video company it's called RYOT. They worked with the Washington Post to chronicle the refugee crisis in Greece. And viewers said it was incredibly compelling I mean. You could really feel the crisis and that's the great thing about somebody like virtual reality. This would be able wells they're real world vision that will be doing this. Acquisition and it sounds to me like they kick the tires on this because. Video well of course owns the Huffington brainboost. And the Huffington Post was involved in that documentary of the Greek crisis. So they said wow this is fantastic product just like you would put on the goggles Julia you know what we need to buy this or date like eight that was my immediate response and you need to invest in it. And if you're Verizon would have great way to get your streaming activity. Yeah right gear to sell more streaming service right there they're in the business of selling streaming. While title is this the beat Hastert's only Spezza and if they get into it and they're making the programming in the contents in the movies and and all that because that's weird that's the reason not to buy it's it today. Is one your opinion news it's gonna get a lot better during the next three years and to Stella content. Right in there in the process right now of building that base. Getting the distribution getting the production in owning the content so that's what Verizon is involved with now Whipple AOL and it looks like possibly Yahoo! was well. What the way you see that wrote the auction is going on it's gonna come between 4000000000 and eight billion. And it could very will be them. Finally Bryson shares still yielding four point 3%. Get a fade away again telecommunications companies look attractive and on a price earnings ratio but remember it's highly competitive and leveraged ray Caron lots and levered after I'd. Love which use Southwest Airlines say they're symbol for Southwest Airlines is low because they fly at love field that's right now stacked. Here's a case where they earnings were up 13% four cents above estimate it's all good news. Earnings or revenues beat lower fuel prices we do about. And the ongoing revamp of its jet fleet. Southwest as we've discussed is the most consistent. Player in that space they've made money under all scenarios. They're Smart they have one plane you know they see if they do they hail Mary is the same jet identity he. And so their mechanics don't they always have equipment the only there on time performance is always very strong the pilots can fly any thing. In the make here interchangeable they've been consistent for what 2030 years and they take care of their employees there at least Lovett the employees are literally singing on the PA system when you're on the planes. You get great service is a very well run airline the stock is less so today because. People are kind of still believing on the airline story is this as good as it gets in the future are we talking about. Much higher wage increases are we talking about much higher fuel costs. See that wages are big issue for airlines because we can't outsource it selling General Motors again the general motors' story is they figured out how to work with the unions. Southwest. You know you can't outsource to Mexico. The flight attendants he can't outsource to Mexico. The the mechanics or it's all hands on it's all going to be done in the United States and compounding that with the fact that they've had such a difficult time in the airline industry. Workers have had to really bite the bullet and they told them times are tough we can't afford it. There's a lot of debt coming due here in terms of what told the employees and and in both sides know that your electric bill is going up I don't make many promises to you but that's a promise like ten make based on the fact that hinder Morgan has shelved a three billion dollar pipeline project. Anthony Buxton from the coalition to lower energy cost. Joins us next to talk about why your electric bill is gonna go op. A lot 68680 is our text number you're listening to the financial exchange from the insurer match dot com studios. Candidates watch the polls we need to watch the markets find out how one can impact the other throughout all of election twelve and sixteen right here and hits the financial exchange on the financial exchange radio network. Have you ever thought about owning a firearm Titus is very Armstrong and if you have you should call Brian Dalton from New England firearms academy he offers the basic firearm safety class required to obtain in Massachusetts license as well as the multistate firearms permit that is valid in 31 states the academy specializes in personal safety home defense and a variety of defensive firearm classes to meet your needs located right above four seasons guns in Woburn mass call 7817906462. Or register today at any firearms dot com. 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And this segment of the financial exchanges brought to you in part by leader bang it's not too late to get a great rate on a home mortgage leader bank has some of the most competitive rates around. Call 8776917900. Or visit leader bank dot com. For more information. We got information regarding related to hinder Morgan they are shelving. A three billion. Dollar pipeline out of a few jobs created right three billion dollar pipeline job no question about it and it would have been a lot of relief for people like me you have natural gas and wonder why are bills are so high when the product is so darn cheap right well. Joining us to explain all this is Anthony Buxton from the coalition to lower energy cost hi Anthony welcome to the show welcome back to show elections that. Good morning guys are good so. Why did gender Morgan just throw up their arms and say to heck with New England. Well I. Tactically I think you need to go to their statement. Which state that that he did not seem reasonable prospect. All getting and now on tracks of Peru yeah it DeWitt led to make the project's. Economic. They are statements. Orbital publicly. By my organization. View it is. Obviously on behalf of consumers. From all over the Portland yet. If they are very unfortunate. Development for those consumers because it means we're going to get less than half of the gas we need. To make our energy costs. Similar to what the rest of the nation page. And here we are Beacon Hill was 294. Point five miles. So gas. Into everybody else the United States getting netcast and we're not. What we BB needed potent winter it was truly a tragic event. What will the impact be on electricity cost throughout New England. Well right now we have I don't electric and gas costs in the current state. And have had for decades. Largely because we didn't wait to rely on coal oil. And as the Marcellus gas has become available. We have even so it strategic. But what happened is enough people like. What have you has switched. Castro eating it so there's no gas for power generation. In the wintertime of 2000 dollars a year. But the result is we burn coal and oil. Well what happens now is hopefully the outlook project which is. About half the size of the can project will still get built and won't get contracts. So there will be some relief. Starting in the years 20192021. But it will be far less that we be. The consequence will be. There will be no protection. Would not be out of protection. Against. The extreme aspects of for example or cortex which are. Question here though is Kinder Morgan of course shelf that that pipeline project as you said taking them for their word because they didn't receive the commitments from big customers that needed. But were those customers reluctant to do that because of the understanding of the political opposition is this a chicken Greg case. No but what. The gas fired power plants don't have credit. Worthiness. Because of the market structure and artists signed. Contracts with banks will recognize this as good credit. So we've created a system to England in which age of five states with the exception for. Is having its state PC or PP you approve contract. Four electric. Companies to buy gas pipeline capacity. Into at that the allocated in the marketplace to generators. So we'll generated via and so pipeline would be built. But apparently. What can de orbit and it is. That that process is moving very slowly. What. Which is owned insignificant part whatever source he had that that would result in. Perhaps only the upper source project giving contracts. It back but based on price. That's based on other consideration. Would year what do you think the impact will be on New England manufacturing now that electricity costs are gonna. Hesitate to. Say what art tell me. Okay brain. If you all need major manufacturing. Facility. Today this is a topic in New York cricket. What it would take. Somebody we don't present key city just being purchased by bill. Bill manufacturing exploration Texans were energy costs are very low. Dell has to be looking at whether expands. ENC can. Choose it or whether it expands production. For the same purpose taxes or North Carolina. Where where where she and other production. And that's going to be true every. Significant. Order. Who uses energy for war and if you are with total product cost. It simply factor is even a factor or large import. Who have what they million square feet. They know they're going to boost people based on Saturday. And unfortunately it spurred much contrary to that particular administration objective. Although frankly the speaker administration does not treat consultant quarry on this issue. Very nice very Anthony thank you very much for your time we appreciate it Maria and you are with future efforts. Anthony Buxton coalition to lower energy costs it ought to point out right. Manufacturing jobs we already have a shortage of those jobs in New England we've been losing those jobs to the south. For the last thirty or forty years. You're you're home electricity will go up as a result of this. Activity and the cost of heating your home. We'll back with natural gas is going to increase as a result. It is this is a lose lose lose situation yet if any presents a sobering reality and talked about that checklist that businesses go through. You'll be looking at higher labor culture you're already looking at much higher taxes here. It's not the greatest climate the world all the respect yup realistic costs are very high and now all of a sudden you throw energy into the mix and government regulation is more stringent here it's one more factor that that is is disconcerting you know maybe if you lose your job puke in the you can thank the well more healing is one of the major factors and. Walking this way. Anyway will be back and when we come back we're talking. Well what are we talked about probably Verizon some more. War will be joined by Jack Moore from the street as well you're listening to the financial exchange from power. Insure a match dot com. Didn't making your Smartphone even smarter. Download no mobile lab by surging financial exchange joke in nineteen Jordan who who played store. This is the financial exchange radio network. They stayed an asset protection claiming can be overwhelming. 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Barry are struck here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that your surviving spouse has to be the beneficiary of employer sponsored retirement plans did you know that on death your higher rate can be taxed four times all higher -- are taxed at state and federal income tax rates but they are also attacks by federal and state taxes that can mean that as little as 20% of your retirement plan will be passed on to your Ayers we're giving away a free guide that will teach you how to avoid excessive taxes on your irate and it will also give you guidance as to beneficiary designations on your retirement account imagine if 80% of your diary was lost to taxes call 803934001. Called now the 803934001. Security officer securities America incorporated member and resident BC and advisory services are with the securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated we salute you qualified tax expert for any tax related concerns. If you're looking for a great deal on a new counter program you should check out the -- rewards program that leader bank is now offering is a checking account along with the companion savings account and as long as you qualify you'll receive three benefits first you get a savings rate of two point 05% annual percentage yield up to your first fifty K all of your ATM fees from -- some other banks will be reimbursed and you'll get 1% cash back by using your debit card on visa credit purchases just sign up for the statement with the account direct deposit at least 1000 dollars per month and do -- debit transactions per month cult leader bank right now at 8776917900. To learn more about the -- rewards program that's 8776917908776917900. Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualified resume rewards will learn zero point 10% annual percentage human savings balance member FDIC. It's Barry in show Camilla financial exchange on the financial exchange radio network. On this day of the year 753. According. Histories the city of enrollment with bounded by the Greek emperor of Romulus and so we're doing trip trivia today based on role in the. Politics. In Roman mythology the god of the underworld was brutal. What did Greeks called the god of the underworld. Actually yes it is this what that are with the Greeks call the god. Of the underworld you know the answer that question Texas at 68680. Volkswagen. Nearing a deal these new year. Did the deal or their darn close to doing a deal. With the US to try to get government off their backs worse almost illegal cars yet the government has little little leverage in this case they didn't. This is the most egregious case I've ever heard of in the auto industry there's nothing really exhibition was pretty bad their stock is down 20%. But this was so widespread. And so deliberate calculated and required a lot of effort by Colorado very Smart people to pull it off and covered up. So that would have left gifts and cutting the and boy did they get a good deal from Volkswagen. Volkswagen is gonna have to fork over about ten billion dollars to take care it is it's a settlement in the case of that cheating at the diesel emission tests. VW shares are up actually on the news because it's it's up it's the non patent number one headache that the company adds. They'll pay each affected customer 5000. Dollars each. It involves 600000. Cars on US roads right now so this is a massive settlement. It's me a lot of money in the hands of people who frankly deserve it because they got cheated they do what I worry about here there's no mention of it it must be separate. Scent of litigation that. Think about the dealers that bought these cars and the unit packed on their business they've got forty car sitting in the back wac that they can't sell. That they're paying interest on every like. They dare. Has to be some kind of negotiated settlement to represented dealers and no one dealer in Michigan sued books and but I haven't heard anything that I would venture to say that Volkswagen is probably putting a lot of money on the hood. In in return to good to those dealers count each core that they sell. As thank you or encouragement because they've got to do some they're dealing with a tainted product you're darn right now the ones out there have been dealt with. But obviously the brand has been tainted that really hurts that he would do what it feels they've done yet think about the value of your dealership is your life's work. Building up your auto dealership in and all of a sudden because of something the company represent. Does write your dealership goes down and die by I don't know I know maybe you restore that overtime by continuing to make great products by taking care of the people were affected. By firing everybody involved in this the problem this is if you fire every you had their hands on this there's nobody left it it could take five or ten years that it exactly right I think that's what people are looking. So sales of business jets give Rhode Island based Textron he first quarter lift the symbol for this is TTT. What do we know here on this is a good indicator of the economy itself flashing positive signals about Exxon's earnings and revenues bolt beat. They delivered 34 business jets and 26 Turbo props bull up from a year ago revenue was up four point 2%. Earnings 55 cents vs 52 expected over 46 last year or so. Good news for Providence based Textron. Nobody likes the banking sector but Farmington banks parents. Posted a jump in profits. This sounds a lot like the a nice narrative we've heard yesterday from Webster and another local institution. Parent first Connecticut Bancorp reports 44%. Jump in earnings. Again we're very very common theme very nice loan growth nice deposit growth. In the company saying some of the positive growth is coming from a couple of a new Massachusetts branches that they put up so good. Good news on the economy again from local banks they seem to be benefiting from some of the big boys that problems united Banco announcing some layoffs and a yeah undisclosed number of cuts we don't know exactly but the company says who paying out one point five million severance. The good news here no branches will be closed. But they said they've got to cut back to be efficient and to be competitive so that's who worked. General we yet we have the story in Ers back yesterday and we never got to that is the city of San Francisco. Demanding that any new. Building that is being constructed with a hole Rory commercial property must have solar installation. This strikes me of 1984 Big Brother a mile. You have to have solar of course think about it for new here in San Francisco for new home construction at San Francisco this would affect people name off that gates were Zuckerberg. Because the idea of building a new home in San Francisco is or building. Commercial buildings as well the thing you have to so you know they do this and have done it for quite a while in Israel. Davis they've had mandated solar. In Israel. But they're doing it and the beneficiary. Of this is solar city their stock is up 3.3 percent it was up yesterday as well. On the news I would think that solar city would probably benefit as well from the bankruptcy of the pending bankruptcy sun Edison. There's less competition and and this is an issue here there's the capacity in the solar industry. How many players are there and and if if several cities all the leaders in Francisco. I mean could we deal with that kind of growth but. It strikes me as though rather dictatorial. Yes that is to say you've got to have solar yup not it's nice to have it but you have to and I think you're gonna see this and other parts of the country the united they're gonna put it in the building code. Where they say OK in Arizona you take that she's Arizona's example post. It's a very hot southern location tremendous strain on the utilities during the day in the summer because in the temperature gets a 210120. Degrees. You're running your air conditioning so if you built every hole with solar in Arizona. And that would take the strain off the grid in a nice lunch that you'd be using it during the peak hours from right in that makes a lot of sense I get that. Just yet give me and dating and I mean echoes so far beyond tax credits and incentives to saying hey we're Mac is a choice for you yet. You must do it yet that is the the downside to it so salacious city shares. Up on that news EMC. Advances despite a weak quarter. And against the Dell deal is gonna happen is that when him understanding basically V numbers from EMC don't matter. I mean they matter to the business intrinsically but the stock is trading in anticipating the deal. In every is trying to handicap is gonna happen what's gonna happen I worry about jobs into this deals done. You'll always worry about that and you know VMware which for years and soon to be the crown jewel the company. One of the things about breaking companies up as the reason it happened together in the first place was to provide diversification. And for the company a particular company be in bad times and vice Versa. Right now EMC's trading on its own. They did have a weak quarter 31 cents vs 33 cents but the stock is up because the companies saying. We're going to do the deal in the second or third quarters and look what's gonna happen. The deal by the way with Dell Dell buying them right but I would anticipate. They would keep the year. Intellectual property of their intellectual development appeared in the New England region but would you think they'd move a lot of the anything that can have with the New England region. The question is what is anything they can I think a telling me yeah yeah yeah. I would I office a lot of the back office responsibility certainly the manufacturing responsibilities if they haven't already done so. I just see. I IC job loss coming with this mergers is trying to convey and I mentioned that because EMC is a large employer in New England at the same time Michael Dell clearly identified. This area in this proximity to the brains in the great colleges as one of the reasons he wanted to be here yup so what the higher ran jobs require. A lot of technical skilled engineers I think they're gonna stay here but you're right back office accounting that's stuff that could be done Texas as well as hear anything and cheaper. Now less expensive for cheaper natural gas renal yeah it is so many reasons. They up next will be joined by Jack Moore from thestreet.com. We have three stocks looks like we're going to be talking about. Under armour Verizon and Biogen. If you'll know shares are you thinking about buying the shares you might wanna stay tuned because that's our next topic on the financial exchange from the insurer match dot constant. He has. Weathered the election is carried by red or blue find out what it will do tiered green right here in the financial exchange on the financial exchange radio network. There are strong here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that -- surviving spouse has to be the beneficiary of employer sponsored retirement plans did you know that on death your higher rate to be taxed four times all higher raise our tax that state and federal income tax rates but they are also tax by federal and state death taxes that can mean that as little as 20% of your retirement plan will be passed on to your Ayers we're giving away a free guide that will teach you how to avoid excessive taxes on your IRA and we'll also give you guidance as to beneficiary designations on your retirement account imagine if 80% of your diary was lost to taxes call 803934001. Call now 803934001. Judy suffer through securities America incorporated member of the rest of the BC and advisory services over the securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated we salute your qualified tax expert for any tax related concerns. Stay Vanessa protection -- can be overwhelming where do you start and how do you know what type of trust is right for you and your family with the numerous types of trust available the state planning can certainly be confusing do you need a replica oval or an irrevocable trust what's the difference should you consider a special needs Straus -- life insurance trust one of the tax implications of each type of trust -- -- an expert an elder -- estate planning prepared a brand new guide called demystify and trust they'll offer you a roadmap as to the different types of trust that exist to help you figure out which type is right for you in your family to request this free guide call Cushing and Dolan right now at 8668485699. Or log on to legal exchange showed dot com you can also reduced and potentially eliminate your state Texas and protect your assets from the nursing home all -- the same time read this free guide and get the answers to many of your state claiming questions 8668485699. Or visit legally exchange showed dot com that's legal exchange show. Dot com. Hi everybody very are strong here from the financial exchange I'm joined today by Jake too who's a senior vice president at leader thank you were talking about something called. He rent this is a program that allows landlords with you have. 1010 a 110 tenants are 210. Tenants in allows you to collect your rents electronically. As opposed to waiting for those paper versions to come in the mail so wonderful new program available exclusively. From leader bank and Jay's gonna tell us exactly how this program work. They bury so it leader rink we actually bank a lot of real estate developers and property owners in the Boston area and some of our larger clients. Came into the bank in and we need him coming with huge wads of checks. It's we thought about you know why why is it in this teenager still bringing so many checks that they ain't. It's simple thing you know and in a you have property in Cambridge. Three unit building in each UT's three bedrooms. You may have nine checks at the track just that one property or religious college student exactly so you have three properties that's point seven check this starts it starts out pretty quickly. So would you read what we've done is we've we've allowed a landlord to invite their tenants. That tenant signed up we deduct each share range from the tenants and then one east each team in. That landlord for each unit. So it makes you very clean and simple it's very clearly described as to what the rent being paid for which property crest which unit number and everyone gets reminders and automatic. And it. That's the best part it's free if you're customer of leader bank. How do you learn more he called 8776917. B 900 that leader banked all three. 8776917900. Asked how leader bank can help you collect your rent electronically it's terrific. 8776917900. Or visit them online at leader bank dot com. What's hot and what's trending. In the world of finance and go from Barry Armstrong in chunks on the on the financial exchange radio network. It. I have. Time for stock talked to were joined by Jack Moore from thestreet.com should have scheduled this out. Interviewed for an hour ago because under armour is up seven point 8% are you doing Jack. I'm doing well. So now it's yourself he is still like it is that now that it's up 8% and in twenty minister in yeah. You know I I never love. Yeah that buying into that had the momentum. And it's certainly a stock that. Is partially driven you know it it's part that part cold stock part underlying fundamentals are incredibly strong so it's not. And it it there is kind of a justification to its valuation but I do you think that. The become a name brand associated with Ted and in Canada they do it the way they're modeling a lot of the analysts remodeling out. Potential her prince complex stepped carried chief sales as. They're really in the united modeling and five years out at 28 point 82021. And so it's really tough to anticipate. What they'll would be an incredible bias from the Bay Area huge orders and die hard. On that hole I mean they are getting you to look actually from step occurred in on they're called. Who voted whose whose staff Currie. You hit it yeah he's the guy matter. Just dropped four under orders that reporters this season but he also dropped a new line issues then. The yeah and and Michael Jordan obviously if you kind of try to yeah Perry even modestly. And Michael Jordan she's failed and how that contributed. On tonight you then I mean you can you can even if you can get to happen that. It it can really propelled it big as some analysts value stepped curry is worth that fourteen billion dollars Q it's calm under armour. Yeah how much they did this did. It's got it there a lot of it instead of days though it knowledge fully disclose what have you ever. I've heard this story but that Nike. Pitched it basically had stepped carry and there are you know there started kind of and they tried to pitch them forward shoes beneath accidentally used Kevin Durant instead of that name to pronounce the name wrong that they lost. Thank you ought stepped carried under armor and that is a fourteen billion dollar mistake. Why well. That's a problem that the thing I worry about in in this particular space though is over the years if you bought any company not named Nike. You probably regret it if you made the long term decisions or something that you kind of have to have an exit plan on. Absolutely I am and I think that's actually an excellent point I think that looked. Even we're in it with the growth under armour is that it still is only scratching. You know the service for the market Nike dominates the sports apparel market thank you dominate everything and I mean they have skill they have the brand they have. Just incredible staying power now that they'd they'd be counterargument is that under farmers and that still. Now only scratched the surface I mean that that's potential right and again and it is a growing market overall I think both can co exist but they are. Massively competitive but I do you think that there is some concentration Ritz quit like Seth Curry on the basketball I even though they have several ought there. On their names and step the current speed on the gulf side and I think that. Trading stumping based on the associated Brandon muted stepped curry had an injury and without anything we know you know he's having injuries and the pastor turned speed continue to. I think I'm in the stocks sold off when he claps for the masters and I think is that attack at Stockton makes me a little bit nervous to trade around like that. The white blood lines. I doll. It's about it is I just thought it was an interest staying. He kind of historian and what can happen win. I'd actually say that I've been relatively negative about it but. I think this quarter was even worse than expected deep wage strikes are real and the company admitted that. Kirk knowledge that it's going to have a major impact on earnings and then you also look at their. And their table their cable TB. Subscribers and subscriptions are down 60% year over year. Even their shift to Internet in and video subscribers. It's down to I think 25%. Your year so I mean obviously to have the wireless business but. There is there's some real competition from T-Mobile on all obviously AT&T at the higher end by. But Bryant to it and is in the top spot right now but today like stay away from Verizon. I don't think the yield was worth. You can't very well what about their efforts to try to get more it's the content business and one thing Comcast has going for itself is a more diversified stream in terms of content. Are you impressed by their efforts to perhaps get more involved in content. I mean do you have do I get I mean I I think that. And content that is the only way to distinguish yourself about the original and it happens to be. You have to have a magic can't beat something that can be accessed on other platforms are essentially moderate that's a lot of content has been commodity has been. I think that you know that that's what it Netflix rent and the struggling with that that it is it developing original content that comes at a major Coston stepped. Contact acquisition is today you you really have to be strategic about it. And and so I think that there can be incredibly valuable content but. There's also a high price stacked print out that it's not an easy market to break into you and and I have a higher return on the investment. What are your thoughts on Biogen. Look at interest and we know and it I I did a little bit torn about it is it mean Biogen everyone. As good as the multiple scorers as the leader and they had eight at 8% of its revenues and that. Becoming a crowded market there it made these early states that an. Alzheimer's sale last alzheimer's at the big one I mean it right now there's only symptomatic therapy expert alzheimer's. They believe that their drug can actually. Opt opt that the decline and in and and functional and talkative. You know sentence in the early states join me in that is that 102830. Billion dollar opportunity if it actually works but we're not gonna find out. If it's going to work hurt several let's say to recoup two to three years blunt and data points in between so I think they tried to push themselves on the conference call. About all there you know blockbuster potential I think they want to be acquired or days need. Acquire a company because there's. There's there's a big gap between the current earnings stream and there long term. That so they need to bridge about. Anything on the horizon besides the alzheimer's drug that could get him back to 400. Yeah I mean they have so it dated they're developing novel they're the they're the frail last. They're really in in multiple chorus that there are also developing. New oral therapy that at that could be revolutionary if it is on the approved so I mean those are three areas I mean they're really looking at the neurology died. And and in nineteen neurology is kind of the next leg of growth and innovation because right now they're they're really is deployed in the Biotech community. Strong neurological lesions that can have a lot of different. Applications. Right right Jack thank you very much for your time we appreciate it. I got picture Jack Maurer thestreet.com joining us three stocks were talking about under armour he like Verizon he was crazy about. Biogen. Seeming to like it but. Here's my concern about farm in general right now I'd this year political risk fear about pharmaceutical every time. Hillary Clinton opens her mouth the sector sells off dramatically. So the prospect of a Clinton administration is something that's working against them. Whether whether this is rhetoric or not the fact is she is perceived as being the most anti farming industry candidate. Right now the oddsmakers say she's the overwhelming favorite to become the next president's that's the negative however that could work. A in favor of these stocks if she's perceived as being weaker candidate lesser chance of winning. Yeah I mean that's not that that's a but I wanna make and also a suggestion might wanna get a prescription for motion sickness drug if you buy by origin because the stock. Dunst autism every move up and down like crazy now may indeed the volatility. Well that whole sector yet to be prepared notre volatility. Another way to play that sector is through any Tia. You know eat because then. You're you're not subject to the whims of one company we've seen companies put down by 50% in an afternoon. Yet the problem with that sector is that a lot of these companies we know are gonna lose most of their value. We know a few of them are gonna have incredible increases but would buying EDT at the sheet to own everything yep yeah I get the good the bad yeah exactly. All right well thanks for tuning into this hour of the financial exchange John booty is sitting in for trucks ought to. My name's Barry Armstrong and we're producing this program from the insurer match dot com studio. They stayed an asset protection claiming can be overwhelming. Where do you start and how do you know what type of trust is right for you and your family with the numerous types of -- available it's understandable if you're confused when it comes through state planning do you need a remarkable or an irrevocable trust what's the difference should you consider a special needs trust her life insurance trust one of the tax implications of each type of trust Cushing and -- an expert an -- -- estate planning prepared a brand new guide told demystify and trusts that will offer you -- rapist in the different type of trust that exist and help you figure out which type is right for you and your family to request this free guide call Cushing and -- right now an 8668485699. You can also reduce -- potentially eliminate your state Texas and protect your -- from a nursing home all at the same time read this free -- -- get the answers to many of your state -- questions 8668485699. That number again is 8668485699. Fight your favorite news photos and sports updates on your phone when HP mobile from the Associated Press AP mobile for the news gets its news. Mortgage rates are still at an all time low and make sense to take advantage of these rates when you're refinancing or buying in the moment leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rates they're experienced staff about mortgage financing options and get a very competitive -- term fixed rate for your home where the refinancing or buying a new home work with leader bank calling 776917900. Or visit leader bank dot com leader bank claimed over one billion dollars last year to homeowners in the Commonwealth of Massachusetts they're the true experts and mortgage financing deal with a local bank today and call 8776917900. Or email us at loans at leader bank dot com -- leader bank for all your home buying -- refinancing needs 8776917. B 900 that's 8776917908776917900. Or -- leader -- dot com member of Jesse equal housing lender. Hi this is Marc bureau CEO Richard Matsch and proud sponsor of the financial exchange with Barry Armstrong. We are an insurance agency that specializes in comparing rates from different insurance companies in order to find the best deal for you. We can look at every policy you have an if you give us the chance we can make sure you have the right coverage protect your family and that your policies reflect all the discounts to which you're entitled. As an example if you have a car that's less than three years old. Call insurer match today at 84499. Match because you may qualify for replacement coverage which would reimburse you. For the full value of your car not just the depreciated value. If you have a specific question about your current policies or are simply looking for ways to save some money don't delay. Call us right now at 84499. Match. Z rent this is a program that allows landlords whether you have. 1010 it's a 110 tenants are 210. Tenants it allows you to collect your rents electronically. As opposed to waiting for those paper versions to come in the mail so wonderful new program available exclusively. From leader bank and Jay's gonna tell us exactly how this program work. They ferry so it leader drink we actually think a lot of real estate developers and property owners in the Boston area and some of our larger clients. Came into the banking and we see him coming with huge wads of checks. It's we thought about you know why why is it in this teenager still bringing so many checks that they ain't. It's it's a simple thing you know and in say you have property in Cambridge. Three unit building in each Judy's three bedrooms. You may have nine checks yet we keep track of just that one property rights to budgets college student exactly so if you have three properties that's point seven checked it starts it starts out pretty quickly. So would you read what we've done is we've allowed a landlord to invite their tent the tent and sign up. We deduct each share range from the tenants and send one ace each payment that landlord for each unit. So it makes very clean and simple. It's very clearly described as to what the rent is being paid for which property crest which unit number and everyone gets reminders and it's automatic. And it's free that's the best part it's free if you're customer of leader bank how do you learn more. He called on 8776917900. That's a leader bank tool free. 8776917900. Asked how leader bank can help you collect your rents electronically it's terrific. 8776917900. Or visit them online at leader bank. Dot com. 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And that's just the first of nineteen risks explained in a new 32 page white paper entitled don't bank on it. Still think you're bank depositors and yet this vital new white paper now call toll free 8051960. To 71 that's 8051960. To 71. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader baker Colin learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back a step ahead. Find your favorite news photos and sports updates on your phone when HP mobile from the Associated Press AP mobile where the news gets its news. This is the financial exchange with Barry Armstrong and chuck sun out. You're exclusive look at business and financial news affecting your day your city your world. Stay informed. And today about economic and market entrants plus breaking business news. And the financial exchange with the very Armstrong and sharks. Some thought is on vacation but we told John Moody out of the bullpen filling in quite a hopefully. Thought ahead throw little baseball in their thumbs down who we are. Financial talk. And a day where that if I had Dow's down fifteen points but. Because they've now hit 181000. All of a sudden. I'm getting emails I'm getting text messages I'm getting questions. Mary should nice element stocks are we in a bubble is time to get out. So all. I think the market is fairly valued maybe fully fairly valued. In that means top each. It may mean choppy but here's here's a positive I'm excited about the market Warren Buffett but the EB holding. I don't think he'd be aggressively buying it lets you accumulating cash accumulating cash looking for selective opportunities. But you have to understand that the average investor in the average hedge fund. Is not positioned well for this rally the average hedge fund is not has missed originally and the average a lot of Smart people. Said a bad time bond. Right maybe they are saying that all last year in and markets tend to not go down in wind hedge funds are short. And win the average individuals like. Always is too expensive is too expensive should it. This type of fear is is home for bull market had a great news for a bull market hedge funds that are armed. Not a well law category let's put out they have no horrible note nobody loves them and and they have been losing money like when I say losing money. Assets have been leading hedge funds. In dramatic fashion including Arab unity used to live on the state pension trough. Yeah let's call it pension funds are taking their money out of it that's because of saying hey guys to go. Hedge funds all were you know pat themselves on the back in the first quarter sent you see we knew was going down they miss this rally largely in the average investor. Has been very leery of it for political concerns for economic concerns so there's not the kind of fraud in the market overall it's usually associated. With big disappointments. The we asked you trivia question what did the Greek gods awaited the Greeks called the god of the underworld correct answer was. CD's. Each AD ass it was not Hillary Clinton that and that's and a couple people guessing in the solar call. This is not a I try to stay apolitical here rate could rise if I could resist. Who want a Christine from north writing gets travelman. Tesla CEO. Elon Musk says they now have almost 400000. Workers talker not including yours. Tucker I think about. Tucker was the bug on for the third test that's only because he thought it was a condition of employment. That's that's why I'm a person and I thought I had did you know yeah here. Their stock is trading at a now you guys on the release I think he'd recognize that I want it I guess what put out there on the ice I mean I did not own it Tesla. And I do not own any of their stock or stocks trading at 250 dollars the a 400000 orders for these things. The earliest they're going to be able to deliver them e.'s Q4. Of seventeen. If this is the big concern if 400000 orders received for the new model three up from 325000. Which we girls and while I can't believe that. The issue is can they deliver on this can they execute they've had problems in the past. Delivering what they promised so the pressure's on you on mosque to make this happen but. Importantly your Berry they've hit a price point that's a magic price point. General Motors is General Motors they're getting 35400. Dollars per vehicle on average. This vehicles 35000. Figure now mainstream price point. There's a lot of debate about that John knew the when I'm hearing is that if you really want the car. Like if you wanna with tires and steering wheel right right if if you want if you like that headlights it's going to be more like 43 to 48. It. That's not that big premium over the average nuke or even a 43 house. My question is can Mexican they have screwed up this X three. In the worst way possible that's the one time with the eagle wing doors of cuts that don't work the doors don't open how good the body stores once you're in your okay. About it accomplices are now to smooth voice stuff in there that's has always do that wrote a friend of mine who was in the car business told me that was fatal mistake. He said gull wing doors have killed a lot of automobile companies. To attack I mean on on a 200000 dollar sports Torre at a very. But a 35000 dollar and around our these photos and goings doors on the X 340. The but it's still. Eat it it's not just that you think about it from an engineering perspective. It's a logical now. Right you talked an engineer that. He really wanted to do the little indoors if it's maybe there's an it engineer alive in the car industry that wants to do this is all marketing Elon Musk. Brilliant marketing. You know engineer. And so anyway they got 400000 orders bank. I posted that on FaceBook and people were saying well they could be line about now it. Nader publicly traded company. They have audited financials they're gonna have like wc in auditing them. If they were lying about the number borders they had they would be in major trouble with the SEC and you know what Elon Musk. To his credit has never tried to hide the stock he's been very up front he even on occasion so I don't understand why the stock is so. So I don't think he'd be doing something to hide the company. I may be wrong but he's been pretty straightforward no he's he's either I've heard him talk exactly I've heard talk it anyway that's the story on on Tesla. John your true medium and I mean you day how many years did you work as TV news anchor way to many. A lot that your body your truck journey very professional nurse I'm a rank amateur on a day. But ESPN has fired analyst Curt Schilling. Overeat trains gender. Post. With what is their story behind the story here. Well I think there's a couple of stories if this were just the first incident I'd be acting Curt Schilling. Freedom of speech and I'm very concerned that you know we'd be able to say things that are politically incorrect. And maybe not popular. In defense of the ESPN this is the second or third incident involving Curt Schilling in the last time this came out they said look we appreciate your opinion. But we're sports division. And we've got people on both sides of these controversial issues and we really would like to avoid politics completely now. Pete would say John yeah that's that's the politically correct answer. There are people espouse liberal opinions and ESPN. Who are recognized enough wired so I get that part of it too but this is. We kind of attack he silly thing that the Korea did it was a Newsnight when is it me it was a mean that he re. Posted on Twitter FaceBook a FaceBook that. And it was you know a guy it was someone in the bathroom yet you re posted. An image of transgender. Fellow. With it was like to mean something on and then Kurt added his commentary to that pitcher in his FaceBook status it was a very derogatory. Kind of picture that is that something you see on FaceBook and Twitter all the all the time yet and it's an act like that scene I know the when you're talking about yeah. He's the bin lad is a little overweight yes yes. But Tim Curry added more of his commentary to it and that's where the red flag went up for when it comes to ESPN I guess but here's yours right I look at it and in being in the business I thought okay Kurt was warned about this before Kurt was very upset. Kurt got demoted to the second team. And a woman who got his old job. I'm sorry she ate very good news that she like doesn't even talk or watch the games like where's that one yeah. She has little to say it offers very little inside or. And is the primary person is used pretty good at it again as a commentator always excellent yeah that's a color analyst hearing excellent backed up games I. Think he probably said you know I'm so sick of ESPN hmm let's just do this well let me ask each day is more importantly does he get another. They didn't like this fox picked him mop and say you know what come on over Wu would have to do Saturday in the baseball. I'm thinking maybe some right wing talk show organization might do that or maybe fox might pick up as a commentator. I feel bad for curt he said. One bad event after another I mean dealing with cancer dealing with. That horrible investment that. It took away fifty million dollars entire net worth on that gaming operation. Recently that things happen to him he had what you greet them or not he's had a very difficult life since you left the Red Sox. Up next we will be joined by mr. Andrew do gay he is a senior economist at private dear we're going to be talking about in dust industry. Deceleration that's our next topic on the financial exchange from our insurer match dot com studios. Collection 2016 yeah we'll have an impact on the economy like Dell hell right here that financial exchange on the financial exchange radio network. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets are friends and ensure a match can prepare a personalized plan they gets you the best coverage at the best price call ensure a match -- 4499. Match that's 8449. 84499. Match that's 84499. Match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more their license for all types of insurance and can save you time stress and money with just one phone call and one relationship call today 84499. Match or go online at insurer match dot com. The state the massive protection claiming can be overwhelming pretty start then how do you know what type of trust is right for you when your family with the numerous types of trust available the state planning can certainly be confusing Unita rebel rebel or an irrevocable trust what's the difference should you consider a special needs Straus -- life insurance trust what are the tax implications of each type of trust Cushing -- an expert an elder -- estate planning prepared a brand new guide called demystify and trust they'll offer you a roadmap as to the different types of trust that exist then help you figure out which type is right for you in your family request this free guide -- -- in Dolan right now an 8668485699. Or log on to legal exchange showed dot com you can also reduce and potentially eliminate your state Texas can protect your assets from the nursing home all at the same time read this free guide him get the answers to many of your state claiming questions at 8668485699. Or visit -- exchange showed dot com that's legal exchange show. Dot com hi this is Marc bureau CEO Richard Matsch and proud sponsor of the financial exchange with Barry Armstrong. We've been working with Barry and his team for awhile now and our experience has been nothing short of sensational both personally and professionally. Our goal is to make sure you're getting real value and coverage for the dollars you're already spending on insurance and that's why we want you to call us today at 844. 99 match. The Massachusetts division of insurance says that within the past twelve months a number of the State's top homeowner's insurance companies have asked for rate increases so before you renew your current policy given your magical. And that one of our trained experts review your situation and help you understand if there's a better package out there for you. Will ensure mass today at 84499. Matched to make sure you're prepared for the long winter ahead that number again is 844. 99. 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Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume rewards will learn zero point 10% annual percentage yield on savings balance member FDIC. We're giving you the business. It's the financial exchange with Barry Armstrong and show Exxon up on the financial exchange radio network. This segment of the financial changes brought to the park by New England firearms academy. Jane your firearms permit or your multi state license contact. Any firearms academy today. They specialize in defense of firearms training. Personal safety and home protection and they are located right about four seasons guns in Woburn Massachusetts here's their phone number. Call them. 7817906462. Or you can register online at NE firearms dot com. On this day in history well do skip that part but. Here's trivia question what types of fighters famously fought to the death in the coliseum and they have been to the Roman coliseum. I have not know it's really cool anyway if you know the answer that question text us 68680. Is our number I ran around the the outside how could it was fun nice and and what what types of fighters famously fought to the death in the coliseum again the text number here in our studio is 68680. Our next guest is injured do gay he's a senior economist at pro of the deer and were talking about industry deceleration Andrew welcome to the show. Good morning which is privateers on a household name yet. Oh it's a credit there and Medina abs. Sure and it's actually and it Lindberg which means in port passport to foresee. And we are yeah cloud based. Analytics platform. Used to bind leading economic. External drivers to businesses that helped spark. Where the economy suggest that they're elder going to go and. All right so based on your research what are the indicators telling us right now. About the next six to nine months. Well from what we're looking at we've developed a number of cops. An industry focused leading indicators. We've developed twelve of those back in and out of the all right now are moving. Console. Bite down what I mean is deceleration. Com where where intrepid in kind. You know the economy is only ebbing and flowing accelerating and decelerating now most of the indicators suggesting the coloration and the US economy and execs and. Well I conceit energy decelerating. I could see mining decelerating perhaps manufacturing because of the strong dollar. What other industries DC decelerating. During the next six to nine months. In other industries are the ones that are the worst performers right now rate where it deceleration. In growth has turned it actual decline. What we're seeing now is that in some of the other indicators which. What over the past six months at another strong if you think of Otto. Order contraction. Or even some humor segment respect and see that leading indicator the celery that you suggest that. Well in the 83% growth and meet at a sustainable last year I might not be sustainable over the next few court. At the same time we may not wanna rush to judgment saying what this means there's a recession because as autos and decelerating which clearly is happening. Now they're going from seventeen point four million units to maybe sixteen and a half still a very high level. And the other question I have yours you know we are the excesses in the economy that almost always lead to a recession I don't see those excesses. Exactly so. If you think about how does a cycle probably two out of every three business cycles where in acceleration deceleration is the only one out of every three. The celebration turned into action and so it would be very typical press the EU country album we could see some recovery. Later a what are the key drivers of that that I believe we need to watch out for the year would be in the consumer and bring out. Consumers are pretty much fully responsible for you in the US economy. A lot of we're reliant on a strong dollar on the fact that inflation has been well. On the and that employment has been high. And that's really help the economy whether some of these other storms such as international. Count Chinatown turner we export markets or are we going. Now when you talk about recession you're talking about two consecutive quarters with negative GDP. Do you see that on the horizon today the first could it could have been the first quarter as as we're looking at Andrew. I mean the Atlanta fed had the first quarter point 1% the last time I looked. So are we in recession are we going into a recession can you tell. Well like you could say that kind of answer you are going to action that might leave the only point south of course but. When we look at recession mean look at probability and I would say that. Reno now that the indicators suggesting that the broader US economy at the time by GDP is going to move interest. Because what indicators moving down on that. That sort of trading that in terms of being could get worse. Yeah this is this really flies in the face of what a lot of economists forecasting which is that we're Troy offing right now we've your typical. Weak first quarter we're seeing most economists looking at a slight uptick in GDP for the year that would imply 3% plus second half growth. That doesn't match with what your forecast Nixon's. It doesn't at this point we we don't see really good at ancient course being I'm robust growth. I'm over the next two to three quarters based not so I'm mart leading driver now. You know a lot of. Economists analysts. Part in seven point collect a strong job market and things like. 11 thing I'm concerned about that actually influencing them very indicators. I is the fact that we grow while employment has been tightly right. Has not been strong in the report we really need the consumer's going to pick up a bit to see real nominal wage. But at the same time the savings rate is right around multiyear highs multi decade hides. Highs at some point those people gonna open up the purse strings and spent at the economy right. Yet they get near recent Q and what we've seen is that there's been deceleration in consumer sentiment for and you know people could very well cut back more or an exit ramp up. Andrea thank you very much for your time we appreciate your participation. Art program they introduce gay senior economist at Harvard airing. Enter raises some serious issues for concern. Well he does unity if you look at the housing. Rate you can you know savings rates are high unemployment is low housing should be doing better in that scenario it's not the consumer. Balance sheets are the best they've been in years yup. People see the value of their house going out there. And it's at a point where it's actually making a difference Berry because it wasn't very long ago where people were technically under water and equity. They had negative equity talk about it in the real unrealistic they've gone from being down 8020000. And up 3040000. It doesn't take much to make that kind of swing and it can mentally make you feel a lot better when you're 30000 dollars ahead. Rather than 101000 dollars behind and you've been saving money in you that it is nice dividend with the cut in energy costs so their positive like he said. Everybody's waiting for the cue that things are going to be better or be OK but they don't ring a bell melted and they should but the elections are a big factor. Yeah the elections it definitely having an inflammatory disease that there's gonna be uncertainty. Usually get a bit of a relief rally either way around on election right in November he you know the three weeks after. You know the Republicans are happier than Democrats are happy somebody's happy. He's you get a little bit rally. But then realities it's. And you say. Oh okay so and so is now on the White House would they gonna do exactly first year of the new president. First two years for. Using a very good for the stock market that's true and is much we complain not much has been done the last eighteen months. Because we've got a Republican congress and democratic president and a lot of people argue that's a good thing. Do you know that brings up a point 01 of the things that you might wanna be considering you're designing your portfolio lose. How much you do I have out of my counts because there may be very little stock market growth during the next two and a half years three years but I could see a situation where. We're reporting three years from now and the Dow still 181000 historically. A lesson people forget is a good chunk if not the majority of your return on stocks is the dividend that's paid do you. We kind of threw that out the window in the ninety's coups or stocks dipped weeks and every every year the fact is though that that two and a half 3% dividend the large chunk of your total return it gives you a real safety net. Right OK okay if you're if you're poor policy have a million dollar portfolio but it's taken out 34000 bucks a year dividends. You know the you can live on that perhaps you could sleep better yet if we. Coming up. We'll be talking about why the Philadelphia Eagles made such a bad trade that's next on the financial exchange from the. I'm sure match dot com studios. 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Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume we're awards will learn zero point 10% annual percentage yield on savings balance member FDIC. This is very Armstrong and I'm joined by estate planning attorney Todd left ski from law firm Cushing and dole and were talking about iPods new guide called dean mystifying trusts. And here's a question often arises Todd. Is it possible to protect your children's inheritance. From a future divorce and talking about the divorce of the parents. But you leave half a million dollars to your daughter in ten years after your demise she ends up going through divorce is it. It possible to protect the money that you left to future generations from their potential the. Morse you know that's a great question and the answer is yes in a nutshell let me explain and why it's so important you hit the nail on the head areas with state tax exemptions federally being so high more and more money is getting to the children sure and so when they're getting it we need to figure out how. Best they should receive it we don't wanna just dump it in their hands because if we do exactly what you said could happen they dumped half a million dollars and and in a child's hand and they get a divorce five years after you're gone they're going to be left with 250 on a good journalism big child it was a big chunk of their. Assets so the important thing is that if you haven't set up in a trust. You can you can design the trust in a way so that the child can continue to receive money in the other trustees' discretion. And enjoy it for themselves they're kids so grandchildren. And effect creditors with them the other trustee will not exercised their discretion to make a distribution so protected. And it will get to the next generation as they tax free won't be included in the kids is neither. Do yourself a favor and call to receive Todd let's keys new guide called deem mystifying trust it'll help you protect your assets 8668485699. That's 8668485699. Told free. 8668485699. Berry are -- here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that your surviving spouse has to be the beneficiary of employer sponsored retirement plans did you know that on death your diary can be taxed four times all higher -- are taxed at state and federal income tax rates but they are also tax by federal and state death taxes that can mean that is a little as 20% of your retirement plan will be passed on to your -- we're giving away a free guide that will teach you how to avoid excessive taxes on your -- and it will also give you guidance as to beneficiary designations on your retirement account imagine if 80% of your -- was lost -- taxes call 803934001. Call now 803934001. Security suffer through securities America incorporated member of the rest of the BC and advisory services over the securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated at least until your qualified tax expert for any text related concerns. Every other thought of owning a far on this is Brian doll from the new in the firearms academy we offer the basic firearm safety class required to obtain U Massachusetts license we also offer the multistate firearms permit that is valued over 31 states has specialized in personal safety home defense in a variety defensive firearms classes to meet you needs calls today it's 7817906462. Located right above four seasons guns in Woburn call 7817906462. Or register today at any firearms dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. You can your money and you're in the room right here it's the financial exchange with Barry Armstrong and chuck soda on the financial exchange radio network. What types of fighters famously fought for the death in the coliseum they were pulled alive me. Source. Tony from Exeter New Hampshire gets to Cuba. You know on the value investor. And in my opinion just my opinion. The Eagles the Philadelphia Eagles made it very bad valued trade street they must have their hearts set on one of two quarterbacks because they. The browns are getting the eagles' first round draft pick that coveted. First round draft which by the is eighty overall still a very good a great pick plus a third and fourth rounder where you get a player fruit with. Ian and number one pick from next year in the second rafter. I'd be stupid. It's what it hurts the main what's the rationale would be here and I don't get an original point to one trade in NFL history were treating that I am. Many pecs to move up six spots in the draft was worth it to your French. I can think of maybe Julio Jones but she was like X number eight overall like five years ago. I mean we saw with the Redskins do with trading up to get Robert Griffin the third race we'll. He's not a redskin anymore what about contract this reminds me of the Herschel Walker trade between Dallas and Minnesota. Member Dallas and similar they are being loaded up after that trait yet Dallas became a dynasty. It's just that we were able to rebuild their team I know very few examples I think with a quarterback is. A lot of times these guys were highly touted end up being busts. And in the sixth round with a 200 pick it up get Tom Brady Dennis of the nature of the quarterback position which is what's even more interesting is that. The two guys that everybody's lusting after. Work almost off the charts six months ago as Jerry golf in Carson Wentz from their their stock is gone through the roof right but they're not. Guaranteed. Superstars now talk dirty thing. No I don't I mean our water watch a lot of college football by any means but from what I'm hearing from the experts and it's not a great quarterback class this year. So these teams are really desperate just to get a quarterback and this these these trades both the rams trading with the titans from the no more impact. And now we get the eagle straight up with the browns from the number two pick our franchise altering moves yet these are saying you're depleting the future they're saying this is guaranteed to be Tom Brady or Peyton Manning and there's just no guarantee that whatsoever and could be JaMarcus Russell to pick number one overall complete boss and what about this Josh Norman story he was the quarterback this is interest in North Carolina cornerback Ellis was he the best quarterback in the league I was thinking it was just what it is that the name of the guy from the giants that O'Dell Beckham junior. Yet again a slight gap on the ice you know Beck Beckham got suspended for a couple he did yes yeah I got in a brawl thought Josh Norman on the field so does Norman and up and patriots you know knowledge or he's gonna be too much is something weird going on there maybe he's our scheme for the moon and his new contract. There doesn't seem like a patriot by any means a title these corners have incredible value because he knew he gets so pass happy yet. And the rules are so strict. That if you're a shutdown corner you are arguably as valuable players are from the field down. You can argue that in today's game you can or argue that. A lockdown cornerback Josh Norman is just as important the quarterback position yes. We're second most important yes absolutely in about an important message on behalf of Armstrong advisory group. Regarding your individual retirement accounts. I'll tell you what most people don't understand this Augmon take a moment to explain it to you. When you take money out of your individual retirement account to pay federal income tax in to pay state income tax on that withdrawal you probably already knew that part. But did you know that individual retirement accounts are subject for taxes when you die. You pay federal income tax your heirs pay federal income tax on an irate they pay state income tax on hiring. But when you dial in to concerns they may also be liable for federal. Death tax in the may also be liable for state death tax John one Thomas did calculation. For family. And twenty cents on the dollar from the individual retirement account actually ended up going through the years because they had to pay for taxes on an IRA it's terrible. It's terrible. It was worse in the Bernie Sanders tax rates but 80% tax for a while so my point is in and went on to gonna recommend to you is that you call. Armstrong advisory group and receive this free guide it's called beneficiary designations. For traditional diaries in any type of retirement plan and whether your state trooper. A teacher. You might work and hospital if you ever retirement plan. Your retirement plan could be subjected to four types of taxation federal income tax state income tax federal death tax state death tax. Call and receive the guide its toll free 803934001. That's toll free 800. 393. 4001. You know you you you have that money taken out your pain goes into the forward Kate client how would you feel. If only twenty cents on the dollar actually made it through to your granddaughter your grandson. I tell you it drives me nuts to see the rate at which we are all taxed don't allow this to happen you. Called the coal free phone number get the guide and learn how to protect your individual retirement account from excessive taxation the phone number one last time. 800. 3934001. Securities officer securities America incorporated member Tim Russert BC and advisory services over the securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated please consult with your qualified tax expert for any tax related concerns. Guys go to out public high school thank you both agree via. I want to BC action for a BC okay capital. Well there's oh dear there's a group. Around that is suggesting that 27%. Of public high schools won't offer any sports programs at all by the year 22 plan to. Four years from now. You know we talk about the fear of us having a nation of couch potatoes. You know the fact that these these sports budgets under attack. Is really a health issue. Because we need to be encouraging kids be just dating export this to schools are cutting back these budgets. Right don't think there's there's an app will let him and and our high school. If you wanna play sport. There's an athletic participation fees they have to pay a lot of and we can't afford it Tom Brady and Serena Williams have been very active in trying to get the word out that. The should not be considered a luxury yell or an extra thing it should be essential. He should be essential that we we keep our kids in shape. In get them in the also shortly benefits competitively yeah. When these kids and a lot of life lessons learned as a launch huge life lessons so you know that if I think what we've learned about Tom Brady two to do that. He didn't start playing football actually was a freshman in high school yup now. And he was a backup yeah I'm a freshman. Football team get back on oh and eight. I like to be the coach the rustic life they can I coached the winless team. And I had Tom Brady of that sort of being so I feel like unity of looking the starting quarterback bill that yes there already you know I didn't quite that he's. Washing dishes now yeah yeah I almost wonder if bomb. Go back to the the high school budgets if insurance rates have gone out when it comes to health for these kids because of all the concussion. A particles visibly I don't know that's been a factor by their very careful and high school. Use even a college you get a head injury they pull you be there don't mess around anymore. Yeah it's just needs to be higher priority now is right now is considered lecture. Food delivery startups still looking for stable business you know and I think the problem in the food delivery business John. It's a low margin business right that's number one the number two is just too many companies in this space. I think you definitely headed to low margin business and we talked about this week about Lowber not be able to make money doing it Amazon fresh not be able would really make this thing work on scale. If they can't make it work chances are it's not gonna work I view this food delivery business. As a necessary cost for the stars in Shaw's and Roche Brothers. It's gonna allow them to maintain market share but it's not going to be a money maker. If it's just economically very hard to do now we'll see who ends up being surprise. Eventual survivor. In an Amazon they're picked up in airport. See this. Divided airports a German thing you know from now on I just simply want you to tell me what Amazon is not into it be a lot quicker segment yeah. And it just every area doing everything literally right and here's the problem. They do well. They do. And and there and they're willing to suffer failures like the Amazon phone I think they take a certain percentages their revenue in the tell the stockholders. We take a certain percentage of our either our profits are right he's like 10% of profits. And the reason we're gonna crop try Kris east. And they do and you know a lot of the crazy stuff they try rule works really well this is a bookstore. A reminder. Amazon.com. When it was started by Japanese 2030 years ago. It was he bookstores and on line bookstore that's I bought a box I told someone when it when Amazon first went public at a very high price says it's crazy as that how many people gonna. Wanna just order books on line. It was like sports dot com call m.'s but it's obviously today we laugh at that but for years it was a place to buy books on line that was all ones that was the first retailers that they put out of business I think about how the bookstores member Barnes & Noble and borders board gone. Gone on it they killed them. Although those are all gone all the bookstores I mean in every ball they're used to the two bookstores right now in and you'd go in the bigger crowd to yeah arrogant crowd now the car is a really good copy two. Yes I'd sit there all day and drink coffee and a well it's day is Tuesday and that was just the first industry that they put out first retailer. That they put that does look but they did to the electronics industry look what they're doing to the apparel industry will look what they do. I mean there are very destructive technology I talked to what do your analysts who was a guest and now he's in favor Amazon it's a what's the game plan. World domination world dominate its guidance that's basically our business plan and take over the world if you don't like it. Get out of the way. Next to be joined by old friend Michael brush his tight article in marketwatch.com is entitled. Don't buy mutual funds but Dubai the company's debts album that's our next segment on the financial exchange from the insurer match dot com studio. Every time they tell me read it could affect your bottom line here how election to only sixteen is already effecting you right here on the financial exchange. As the financial exchange radio network. The state to -- protection claiming can be overwhelming where do you start and how do you know what type of trust is right for you when your family with the numerous types of trust available the state planning can certainly be confusing you need to rent a cable or an irrevocable trust what's the difference should you consider a special needs trust -- life insurance trust what are the tax implications of each type of trust -- -- an expert an -- -- estate -- prepared a brand new guide called demystify and trust they'll offer you a -- -- -- to the different types of trust that exist -- help you figure out which type is right for you in your family to request this free guide -- -- in -- right now -- 8668485699. Or log on to legal exchange showed dot com you can also reduce and potentially eliminate your state taxes can protect your assets from the nursing home all at the same time read this free guide and get the answers to many of your state -- questions at 8668485699. Or visit legally exchange showed dot com that's legal exchange -- dot com. If you're in the market for a small business loan you need to co leader bank if your small business looking to expand or improve your infrastructure you need to take advantage of this great deal from leader bank for a limited time your business can get an SBA loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and that rape is a lock for four years you need to have a credit rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 87769179008776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 annual percentage rate with no closing gone on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application at 8776917900. Call right now 8776917900. Member FDIC. 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There are struck here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that your surviving spouse has to be the beneficiary of employer sponsored retirement plans did you know that on death your diary can be taxed four times all higher -- are taxed at state and federal income tax rates but they are also attacks by federal and state death taxes that can mean that as little as 20% of your retirement plan will be passed on to your Ayers we're giving away a free guide that will teach you how to avoid excessive taxes on your irate and we'll also give you guidance as to beneficiary designations on your retirement account imagine if 80% of your diary was lost to taxes call 803934001. Call now 803934001. Here he suffered through securities America incorporated member of the US ABC and advisory services over the securities America advisors incorporated Armstrong advisory group the securities market companies are not affiliated at least until with your qualified tax expert for any tax related concerns. Securities are securities America income member in SIPC an advisory services opera securities America advisors. Are represented on our advisory group in the securities American companies are unaffiliated. And includes. Larry chuck in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network. If they've seen this story in marketwatch.com. They'll find mutual funds but do by the companies that sell them. The author of that store who's mr. Michael brush from up on stocks dot com and obviously he writes for marketwatch.com. I'm Michael are you. Hey good morning I'm. Hum well RU. Good so tell me here it's kind of a contradiction here dull by mutual funds. But do by the company. Yeah adjustment right well you know that first part is part of the problem these companies you know of its speed on. Because ETFs greater. Yep so and also. That's Smart get ago our current bush march. And a current bullish outlook that that so now also an academic. You know basically it is a market year by any ethnic operated in the aren't you got them. All great. Year term. Answer is whatever. Skeptical about the market aren't you were part. You know. So so these meet the needs to exceed and our. That's gonna change I think going to be sideways market this year and I think that. Start a storage. Or cards that Atlantic beach on back and are right now people. Yet because. The ten and were so you know there are rights. Well there's two reasons I don't like mutual funds number one number one you can't trade him during the days of something happens at 1 o'clock in the eye and I get a way to the whatever price you know whatever the prices at 35959. As my price. And so I don't like for that reason and the other result like it is. I can buy ET apps and if your question about the actively managed vs passively managed. There's now actively manage. 11:51 on the morning actually traded. Yeah well okay so question that is really news actively manage. Don't eat there since I think mutual funds still are we have an editor read your spirit mean. Pick one of the companies here that the sixty needed managers they basically do our ships with. Boutique shops so they have this into the roster they have Tweety brown they have bird that they have Genesis in a Q are yet. These are all companies have done done well look at from another company of acre Franklin air out of paper and there's. Good but long term they have great managers and I think. Which they think about meg and Pasco good good long term records in Basque. There's I'm not an accurate press group the best. Guess what I'm saying I don't really know it is basically but I. I'm guessing probably that the active managers or better yet. But I don't really that. Tumor. What do idea of any favorites. Well I just mentioned several of them right and it course and there's also the arm. He should see here which black rock you know. Are backing. Why not and courage. In Spain Spain in stark letter urged upon stocks and that was about it. Our sixty year notes. Our strategic but I think it still looks attractive and they urges aid they have more to management. Good and every thing and by the way they have really eat your business so they eighties you know they do well either way and I think that's addiction. It's just all company. And then the directors. Actors and you know to. It is still like insider buying. You know right now a beat. Down and see. But in its first turn age rule and that's wonders I don't think. I beans are. But I'll ask you very bad so we Europe's second yeah. So this date steadier this sort of armed. Falling at all. Spectrum auction. Station in his by the witness East Asia Europe and it would possibly all of you following apple. No I'm not John knows a lot more about the need. Yes grudge because I'm just starting to look into it but there's arm. They're in need RBC war inspect. Service and and so they're going to TV stations and doing cursor auction and you'll pay you a lot of you know word your station. This is happening it's small markets and a big way because a lot of these smaller markets. That's spectrum value is more important than the value of the broadcast station. Yeah and by the way that's a huge bigger markets there's. Music there's station of the auction block. Orders were each. We live this. Well we will seat up to think it is not our. It's very complicated. Whether will be in all but producer ratio I think. Our. Producer ratio of the shall valued market cap company which in some cases it's just too WW. Eight. But there's this and it's racing dynamic and I think radio spectrum. But it's Irish. Peace there. Mary good period Michael thank you very much. Thank you very much marketwatch.com. Michael brush up on stocks dot com. On a day where the Dow was down 34 points you've had a down day Internet corrections we've had a good week overall good month. The ten year treasury is at 187 so it's inching higher backing up the nasdaq's up three points S and p.'s down three point crude oil quite surprised by the action on crude oil all weekend you've been a very much so. I thought we would have seen. I I would have been surprised if we are reporting 35 dollar well they're saying the tide could be turning. And I'm sure I'm buying it but that's okay well that's a topic for tomorrow what's gonna happen to the price of oil. I don't know that it holds on its 43 dollar handle. Thanks for tuning into the financial exchange with John and very. We'll be back tomorrow. From our insurer match dot com student.