Nov 16, 2016|
Full Show 11-16-16 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 chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chunks. Yesterday we had a detailed discussion about. That box hardware stores specifically we're talking about Home Depot. And lows now Home Depot reported earnings yesterday. And they meet expectations. Lows comes out today and I think they reported unless it was around 6:20 in the morning. And knee missed the they've missed on revenue in the based on earnings tiger but it's very and chuck and we're broadcasting today. From the windy residences in Needham Massachusetts and tough day for Lowe's they're stock at about 6:30 in the morning it was down that's been down five dollars a share to book rates due to bad. Yet it's tough to April lows here and in particular you take a look at the numbers on the company. Missing both on top and bottom line here they missed on top line revenue by about 2% so. Coming in below expectations there and missed on earnings then by about 8% overall. Not a great company not a great quarter for the company in particular. You know you look at some of the areas that they tended to struggle in. And I think there's simply just not seeing as much activity. In the renovation space as they expected construction continues to move along slowly you're still seeing here. Yeah same store or bad or two point seven no same store sales wart terrible was two point 7%. Compared to. I believe bubble was about nine Dana about the same from last year so. You know not a huge shift as far as same store sales and I think their guidance also came in a little bit weaker than expected but pretty much in line. But really I think you know these are companies between Lowe's and Home Depot if you look at how they've done kind in that 201212015. Range. Both moment rallied pretty strongly blows up a 192%. Over the last five years so it's not like they've been. Having a tough time over that period and I think part of it. If you're still waiting to see that next generation of homeowners and take that next step and actually buy a place because that's where you start to see people really putting money. In to new places that obviously you know baby boomers will do some renovations and you'll see that. But you need to see that next generation coming in because they have different wants and desires and they're gonna want to kind of with a lot of these existing homes and. Terror out what's in there in putting things that are more built towards their wants their neat so that helps them if they're buying an existing home what I worry a little bit about for those in Home Depot. It is the the advent of manufactured homes. Yeah there's a shortage of construction workers radio talk to guys are in the construction trades and if they're running a business that age it's hard to find carpenter electrician plumber you name. And so there's this move towards manufactured homes where they come in. On a series of trailers and they you know they built the foundation now than they plop the house down I mean it is complete its cabinets and it's a flooring all done. And and I've got to think that that would probably be damaging. To Home Depot and Lowe's so we'll keep an I am both of those stocks target return reporting and target evidently surprising the market because their stock is up seven point 8%. They had a robust quarter. Yet target reporting some pretty decent numbers here when you take a look. At their overall earnings report on like Lowe's and Home Depot both of which have some questions I think about how strong they're going to be. Don't forward target coming out with some better numbers here. And as you mentioned up about 8% that's even after a little bit of a pull button that we've seen since their initial trading early this morning now target. Keep in mind even with this rally. It's been a challenging year for this company the company is pretty much where it started the year in terms their stock price so they've had some struggles trying to get people and keep people in their stores. And if you're member. This been something that's been going on for the last couple years since that big data breach at the end when he fourteen they've had a couple years where they've struggled just to be able to find that kind of organic growth. And also. Target still competing with all the on line guys to rate Amazon and anyone else out there in trying to make sure they're competitive on that for so it's. You know a good quarter for target but I think in the long run they still have a lot of questions about where their business is going over the next five years. And I think that you have to still remain concerned about the threat from on line. I have a lot of questions about snap chat they're going publicly filed to do an IPO. In its not a small IPO this is a 25 billion dollar idea what is or what does last time we saw 25 billion dollar IPO I it was a FaceBook page is this the biggest I've. And trying to think FaceBook was FaceBook that was large I think they've valued somewhere like seventy billion or somewhere in that ballpark when they went public. Biggest IPO is recently am trying to think of me Twitter was probably in that range they've made a bit about seventeen or eighteen billion when they IPO that are not now and but yeah I mean this this a big one in this one that I have some questions about just because I don't. I don't see the long term value in pictures that disappear now. Eight but it's got it is quite confusing to anyone else well I don't understand how to monetize they would they can do. To make money you have to watch it. Yet the watch and second that it seeded despairing picture and it's the foot the police that there are trying to make money what they're doing on their advertising class platform. Is part of snapped had not just the pictures that disappear there's a feature called stories and what it does is it allows either person or company to put together. A group of clips that tells a story about what they did on a certain day or something along those I don't get it because it's it's beyond my understanding. But that's where they're trying to get a lot of uptake from companies saying OK you can post distort at hey here's have graded as drink but later here's how great it is to drive a Chevy but they do that a FaceBook. You can and I just don't know. You know what. What actually makes that Jack unique that I don't see anything about it let's say that he is the unique thing they have going news they've got younger users but every company every tech company has that some FaceBook had and they predict FaceBook figured out how to transition from the younger users to people in their 40s50s and sixties everybody's FaceBook Twitter now perhaps Twitter lost the younger users and no one came in on the backside to feel that you look at some of the earlier social networks you look at MySpace they never figured out what happened after. You know what's MySpace wasn't cool yeah. No one went there it died so her you know I looked at snapshot that's okay they're they're popular now. This is the company that people can awful lot like Twitter two or three years from now just because I don't know what they do. To keep people using the system FaceBook made there you know the FaceBook login that you log in a lot of web sites right right let's go to the Wall Street Journal. That's right it's your FaceBook on snap chat I just don't see how they do that with you know. It's a company that makes pictures that disappears opposite Poulter. ID series is that if it doesn't make sense watching the Saddam Hussein on the because they they had a couple classical music patiently and try to get in on the on the snap Chad IPO. You know a lot of IPOs have gone we will sense that he gave me in the last year and a half we've had a flurry of initial public offerings in the vast majority of them that turned out to be done. Yeah I have a chart that hang on my office door and it's called this is why we don't invest in growth stocks. And you look at a lot of the major IPO as you look at go pro yulia Twitter you look at. You know they'll fit but you look all these tech companies the only one that's been successful in its FaceBook and FaceBook has been a huge success rate. But the that the downside risks got a lot of these other companies. Is eighty to 90% just because. If if you're not successful and excuse your strategy. You your your buying a dream that's all that's all there. And it's the strange time. Hey there's an NHL story in normally I don't talk about it a professional athlete. Who has lost their fortune because very frequently be good news every day. But here's a professional athlete I've followed this kid's careers named Jack Johnson he's not a kid anymore he plays hockey. With the Columbus Blue Jackets. And he's been in bankruptcy court. And gave let's say okay we'll big deal you know we've we've heard of a million football players basketball players hockey players that have gone bankrupt. The bad part about this story is his own parents are the ones responsible. For his bankruptcy. Here's a guy he's pretty darn good player by any rights right. Yes he's very capable and NHL defenseman he's made. You know a significant amount of money in his career that it's like a million years it was still is another thirty million dollars left on his contract. It's unusual for two reasons the first being that his parents were the major cause of this bankruptcy. The second is that it's happened while he still playing for you know usually. Like I don't know why he would keep playing he must love the game. He played but he's gonna be beat up by the time his career is over rated 35 year old hockey player does not like a normal 35 year old me. Be they are beat up often times it got bad shoulders knees elbows you name all the bumpers are broke what that part of the reason he's still playing is because he needs to play for the money at this point. You know it's like he's he's in the very unusual situation he does it keep getting the money. No fee for the next up for the next five years is contract is pretty much going to pay off creditors what he's parents did. Is they took out a number of loans effectively saying look we have all this money that's going to be coming in down the road race but we wanna spend today. And pretty much they took out all these loans they could do for invested all these high res businesses. And pretty much none of them ended up working out so. You know you see this unfortunately. It's it's so often that you see this from athletes but not this specific situation and it's. It's just tough to see this happening with you know his parents who were supposed to be there to kind of died a month. Right path let let time he's done plane he'll be bankrupt and beat up. You know physically beat up unless he's able to play till he's forty which is highly unlikely professional hockey it's tough it's tough. Up next will be joined by Tim Martin from the Wall Street Journal. Tensions have been devastated private pension plans your irate. Public pension plans have been devastated. By low interest rates and that's who we're going to be talking about what has happened to pension plans as a result of near zero interest rates for the last eight years. That's next from our insurer match dot com studios. Barry Armstrong. So George daily team for a comprehensive look at business and financial news on the financial exchange radio network. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates and a wing would a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917. To 900 that's 8776917. B 900 workers at leader bank dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting process and teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender stimulus number 449250. Subject to credit approval leader bank a step ahead. Smart investors are already doing their year end tax planning because they know that on January 1 it's too late to do much about their 2016 tax liability hi this is very Armstrong and here's a tip consider waiting to sell stocks until you've held them for twelve months it could reduce your tax bill from 35%. All the way down to 50% one another idea think about making non charitable gifts to family members rate now you can get up to 141000 dollars this year without having to report it to the Internal Revenue Service the Smart money is always on tried to lower your tax liability and we've got a free report that is chock full year in tax planning tips to get this free guide call right now 803934001. That phone number is 803934001. Or download your copy at financial exchange showed dot com. Three suffered securities America incorporated members in SIPC and advice reserves is with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and hurt companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a tax professional familiar with the laws in your state. Hi everybody Barry Armstrong. Here from the financial exchange and I'm joined by Jake too who's a senior vice president at leader bank. Leader bank does a tremendous amount of mortgage loans as a matter of fact I've used them a couple times to refinance properties in the past. Jake how's the mortgage business these days it's had extremely busy very. There are a lot of people buying homes. So that's kept the purchase market very very busy in and on top of that race are still at all time lows right so we've a lot of folks who are refinancing their homes either to get a better rate or pulse on the cash out because their properties appreciate it that's arisen and asked how does somebody know whether they should call to refinance. Well you know. There's really 22 ways if they feel that the rate can be improved. Give us a ring around and you know thirty year fixed raise her all time lows. If you have anything in the in the 4% range frankly give us a ring to it might be able to do something Coca com or if you need to take some cash and of your property wondered for a college tuition for your kids aren't you guys have home equity lines of credit we have home equity lines of credit as well and the cool thing about that is. If you already had a great look raid on your first mortgage and get a home equity line of credit which will leave your first loan as it is allow you access the equity built up in your home makes an awful lot of sense and you've got fifteen year fixed rate mortgages five year adjustable rate more it's all types and hopefully we we have all types of that in addition to that were actually very active Jumbo lenders so. As properties have really appreciated in the markets in Massachusetts. There's been a higher demand for Jumbo loans and we do a lot of that so last year Berry we are actually not the number two home purchase minor mass. That uses it for you congratulations. Folks let's take toll from leader bank they can be your mortgage bank called toll free 8776917. B 900. He can check out all their rates on line at leader bank dot com. Or you don't talk to human being you're McCall of loan officers standing by right now 8776917900. That's all three. 8776917900. Security security ink in. Our securities. On it or to recruit and security American companies. Today on the markets all day long. And our brand new website financial exchange showed does come could be on demand includes I didn't follow the markets from pillar to post poll had financial exchange showed dot com. This segment of the financial exchange is brought to you by zero. If your land or take advantage of zero and it's a fully automatic online right collection tool. That is frequently and courts and tennis sign up and have rent checks deposited. Directly into your account call 8776917900. Or visit C rent dot net. We're now joined by Tim Martin from the Wall Street Journal. He wrote a terrific article in yesterday's journal that that I caught as it relates to low interest rates and pension plans he joins us now. On the financial exchange and by the way we're broadcasting. From the windy residences in Needham Massachusetts feel free to stop by and have a coffee this. Tim welcome to the show aria. Good morning branch out. Glad to have you board now how how how have low interest rates impacted pension plan it's not just in the United States that around the globe. Yet compare then with. Their piggy bank that they need to. Fund themselves pension funds are. But the world's biggest investors. They paid for a pension checks they send out to retirees through contributions by. Employers and workers but most importantly they leaned very heavily on returns. You know all the assets they have under management. And in normal environments that grows because investment. Markets are. Roaring out. But this low rates for of you know much on it and expected time this is really hurt them. Tim is one of the big problems with these pensions that. In addition to having to grow over a long period of time they also have obligations on an annual basis they have to balance those needs. And as a result they often can't target the highest growth areas because they have to balance the income they need to generate to pay out claims any given year correct. Yeah. And two points on that one is that it because of they probably baby boomer generation machine that. Shift where there are fewer active employees. In relation to retirees collecting pension checks that make the annual cost more expensive every year. Match your point Dunne the high growth areas. Pension funds struggled to investment. In those types of things because they're so large write those. Moving the needle venture capital investments on. You know kept IPO deals. Might be might be difficult. But also that they need to have cash to pay to these growing number of retirees and that often means you can't put it in. Investments that lot Gupta money furlongs and not long amounts of time my private equity or hedge fund. They need to keep that in. And an investment that they can quickly turn to cash. Right and it sounds like Peyton assessed underestimated. How long interest rates would remain lol I think most if money managers did that to him. I hate when we went to 0% back in 2009. I don't know many guises steadily adult shoes maintain this level until 2016. Bonds are hugely important to pension funds they're basically just fire provide a safety net if you will not cute these investments that are more thoughtful like doc. What just provides some historical context and to near zero rate ultra low rates that we're seeing today with. Bond in the make up about 30% on average of global tension on asset. Twenty years ago those same high quality. You know they get your principal and company extra. Those were netting seven and a half 8%. On which those are not to. Basically paid for the pension fund to make itself sufficient. That's now been reduced you know near zero rates and that's. That's just added attention to every part of the portfolio. Copper patch investor. And we hear about the levels of under funding that we have on a number of pensions. Partly due to weaker than expected investment performance. Is there any way to predict on any given pension how long it how long of they've roadmap they have until. They run into problems because of that underfunding. Well he kept you know if that depend on how you define problems. You have it be industry says that if they have 80% of assets. That's a manageable amount to something at 70%. And Benjamin you report how much money they have. And verses their liabilities. Now if players think that this very very question. He. And pension fund. You know if there is another recession another shock to the market many aren't such sort of people. Weakened state that if they absorb another loss to their assets. I'm the might not ever be able to recover. I think it's important to remember different the most recent financial crisis yet he took if you looked at a year to year basis there returns. You know high teens. Maybe the most twenties in some cases were great. Any casualties the recession. You know that those two years that they want to markets went down whatever alleged 20%. You know 5% to you know. Why oh why haven't they gotten back to where they were before the reason is what we've talked up. The that just just now that they're more retirees. Collecting pension check out of the system. Com and nevermind that the attention that sort of assumes you have a base of that is that gross 78%. Into perpetuity at least in the US as an accurate take a big loss. Just hate those marks historically isn't enough you actually I needed to do yes technically more than that. I just think about the last year when we're covering the story you guys covered in the journal. About all the union workers that work for Baker's unions and things like that that. Suffered pension reductions because of an inability to meet the objectives investment objectives. He kept separate separate does Serb if I cut a multi employer plans yeah that they've they've been ravaged. That's. It's that. Not only. The tough times with investments and that and in those plans has performed. Who were worse than a lot of the public a torso of a large corporate pension plans. But they also have just. That this population bubble that demographic call ad nauseam. Some. You know one active worker for 56 retirees. Lunch because you know those industries don't exist in the in the way they did before whether trucking they're all lining the order. You know let the pickers that you mentioned there's just fewer of them. Hard to imagine when you look at Illinois New Jersey. California Connecticut Massachusetts. It's hard boot and envision a scenario where some of these pensions don't go bankrupt and have to be bailed out by the government. Yes I might have a huge. You know attacks you know. In attacks is rising tremendously in those areas or markets making them. I understand historical rebound. It is dependent on the he had a that they might hit insolvency. But that might bankrupt that cities the states. State as we can file for bankruptcy that they might sort of financially you know wound. You know. We look at quarterly OT EUU a lot of these areas like Puerto Rico's. Chicago can't be far behind. Illinois pension plans California just. You go down that list and you look at the deficits facing some of them are only funded 2030% I think Puerto Rico's funded about 5% means so. At last a whole lot longer Tim we have to get out but thank you very much for your time we appreciate it. Are Tim Martin Wall Street Journal I. You know I am not trying to be doom sayers here but it's very difficult to that position is an aerial where the federal government is that the bail outs of these states and local communities you've got. Questions on it and as Tim mentioned if you do you see another downturn coming in activism that really pushed a lot of these pensions in his real. We're broadcasting live from the Wingate residences in Needham Massachusetts. Making your Smartphone even smarter Dell Motorola mobile lab by surging financial exchange shelf in iTunes or those who will play in store. This is the financial exchange radio network. Are you tired of the daily burdens of homeownership are you considering the advantages of joining X 65 plus senior living community hi this is very are strong and wanna tell you about one win gateway is located at the crossroads of Newton Needham and Wellesley. Enjoy a life with style and exceptional services one win gateway offers spacious one and two bedroom rental apartments beautifully designed common spaces elegant dining and now featuring Aqua by Wingate wind gates owned health and wellness experience integrating a quite a fitness and salon services where residents can refresh restore and rethink. One win gateway opens in March next year but is now leasing. To learn more and schedule private tour call 7814559080. That suddenly one. 455. 90807814559080. Or visit them online at one. Wind gateway dot com. 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Or get a by logging -- legal exchange showed dot com this summer is no. -- the kids are back in school and raring to go in this is a perfect time to reset your schedule in its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me was reviewing my insurance plants -- Jason Walsh chief marketing officer of the financial exchange radio network in if you're like me -- needed to reset on your insurance policies I want you to call the insurer -- agency one call provided me with multiple quotes from several of the top insurance carriers I wound up with a revised homeowner's policy in a brand new auto policy that included coverage of a third car from my older daughter because lord knows she doesn't wanna wait around to borrow -- call insure a match today -- -- four or 99 matched that eat for four and 99 match and through their Massachusetts division in charter let -- research and present you with -- information that is bound to help you are saved over -- thousand dollars a year in my new deal and I know they'll try to do the same for you call today at 84499. Match or visit them online -- insure a match dot com it's. Not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rate in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917900. That's 8776917900. Workers leader bank dot com. Member FDIC's equal housing lender and Camilla and her 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank their jumble loan program designed for financing in excess of 500000 dollar offers fixed or variable rate for both purchases and refinance all originations are managed by a leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and Miller is number 449250. Subject credit approval leader bank a step ahead Smart investors are already doing their year end tax planning because they know on January 1 it's too late to do much about their 2016 tax liability hide this is very Armstrong and here's a tip consider waiting to sell stocks until you've held them for twelve months it could reduce your tax bill from 35%. All the way down to 50% one another idea think about making non charitable gifts to family members rate now you can get up to 141000 dollars this year without having to report it to the Internal Revenue Service the Smart money is always a tried to lower your tax liability and we've got a free report that is chock full year in tax planning tips to get this free guide call right now 803934001. That phone number is 803934001. Or download your copy at financial exchange show dot com to. Three suffered the securities America incorporated member and SIPC and device reserves is our with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities and our companies are unaffiliated representatives of securities America do not offer legal or tax advice always seeking advice and thanks professional familiar with the laws in your state. Breaking business news daily only here. On the financial exchange radio network. The sound of music opened on Broadway. 57 years ago tonight so we're gonna be doing some tricky. About the play in the film. Which room was released a few years later in 1965. And trivia courses that we play every day on the financial exchange in the first listener with the correct answer wins a fifty dollar gas card. The musical theater partnership between which two collaborators. You'll that the songs but the sound of music you know the answer that question he just have to be first to Texas again our text number is 68680. First listener with correct answer wins the fifty dollar gas card. The music theater partnership between which two collaborators. You'll be the songs with the sound of music. Now earlier I mentioned that we are broadcasting life. From the Wingate residences in Needham Massachusetts. It we're joined by Campbell and Levin she's the chief operating officer of Wingate. Welcome and thanks for good morning Harry. Jack thank you you know I've. Driven by displaced no less than two or 300 times on the way to work every now isn't yet again to 3000 times a day to beat dole. And the date the facilities actually been here. For say 1015 years the original bill as only our. Original facility which is our skilled nursing facility yet wing agent Ian has been here for quite a time of ten over ten years of that. And then he immunity it would be to the facility were broadcasting and and it septic shock as were walking in tonight a feeling it just walked into Ritz Carlton Hotel this is a wonderful absolutely he has a night. You spared no expense that I I actually agree with you know it is it is a wonderful place. Aside from the beautiful amenities just such a great place to live. We have a dedicated team that really just provides the services to residents at the parent community will help us understand is that you know. You drive by UC Wingate to eat you what you don't know what it is what what he's which would be nice to hear so. What we do hip thing it is it a female company here in the Massachusetts. And we are proud to say that we have about thirty years and providing. On both skilled nursing and senior housing. It is moments she's define who has been very dedicated to your health care care Massachusetts. As well as nationally across the nation. Com what we do is we do about skilled nursing facilities before the rehab it and watch it live long term if that's so this is that they need but here. If the residents as what we provide is assisted living memory care and this is more for folks who. Need assistance with daily living not so much skilled medical needs but just need some extra help can give us an example yes absolutely. Whether it's walking down to the dining room and it's helped getting dressed. On medication reminders. Our staff provides those services. As we all do at times as a but but we we are protest a great community that really. Provide social engagement. We have great programming we bring people together how many units are either here so here in the facility that we are different when it's 9190 minute yes you buy them you read the -- parent to pure which is which is very interesting today in the in the housing market folks you know it's it's it's an interest in time with the economies picked up. On housing market has come back very strong people can exit the home skipped the top and I now. In going torrent motto which you at times it's more affordable than all the meetings and taking care care care for your own home I don't like these would now we have to be negated. We will take you 55 girls there I don't know. I'd get up. I get meals you know very I'll share with you my son came by one day and my son is eighteen years old and he said mom I love affair yeah. I'm definitely idea sign up but so in all seriousness. Who is your typical rest wouldn't be you know we're ready come from variety typically Massachusetts residents come from. Neighboring states I have client who moved his dad. From from port. So so DC a mixture of folks that come to join us some repair. Yes their quite often folks straight from the community that decide you know this this is a great community we are. You know such a great location weird you know right here and you him on the corner yeah we have but. I'm Newton Wellesley very close to Weston. So we have such a great location that we often see people from the community who are ready to go torrent of model. Live life less stress in the stress free America airs though is that we have marry couples we have single folks yes feet from the hole cam. But we also have many adult children that live in the community that pregnant parents' hair. Because they they realize at that point might have appearance there. They really don't have permanent home for the apparent at this this is a great place for the parent to speak and for the parent to socialize with people theory teaches and be re engaged again. You mentioned that you have some couples in addition to a single people or what kind of or plans and options via in terms the varieties of one size fits already have some different options depending on what people need in in this community care REIT we do have we do after treatment. Two bedroom but mostly one bedroom in studio pound. We'd like to say that you know the community it's really not about your apartment unit. The whole community is it living space so you know if you look at the commentaries on the peace around the dining room the living room library. That is still listening to their Ritz Carlton. Level is that the bill that we knew and just walk around. Reminded yet to come in the fire there right in the back yet first thing you see there and yes it in and you know by design you know our our CEO Scott Shuster is a visionary in terms of from. Building you know. Please as the people's lives. He. Really pays attention to details and I think the concept of this building really came true and you see it where he brought the out there was an. You walk in the front door from the front door you can see all the way through straight through to the fact that beautiful fighter that yet keep Clinton in the evenings. On you'll look at you know rock walls with in the building and you'll see Boyd. Matched with you know very beautiful colors that just spring nature and its its its territory tranquil edit a question it just came in on the text line. And that is are you hire. Yes we are higher we always looking for the best folks that really dedicated to yet specifically be looking for doctors are you looking for physical therapists and now recently read the chefs here. Well we look for chefs yes because I believe we can adhere viewed as a stand yes fine cuisine. I'm a week we look for kick of his folks that really compassionate about giving care so we'd look for folks that want to be on assistant aids. With who helped my folks in terms of their terrorist daily living assistance. We look for nurses we look for folks that. I'm when I'm working dining rooms. We look for business folks because obviously in the back room to run. So we have lots of positions we don't. Bring physicians on staff but we certainly contract and have doctors advise us as you know in terms of the needs of virus I think I saw something about careers and whips yes race is definitely if they somebody if somebody is interested in joining going eighteen and I'm absolutely can to Wingate health care dot com. We have a career. Link that will bring you right into our applicant tracking system on it's very easy to fill out. And sure enough we will be in touch with with and when adjusted to come into view in follow up is this your biggest facility. No we we have we have about 33 facilities in three states that we a lot of we're wearing new York and Massachusetts. As far as product but again we have a skilled nursing facilities and assisted living facilities. And right next door here we have building an independent facility that will have 52 units of independent living. So we're in this community care how does that differ from the one we're in now so in this facility here we are persistent. Living in memory can't. The other facility will be pure rental for her for seeing people 55 an alternate site titled uptight about it I'm putting what I am application and I hope you don't check references to wanna live in the Tesla connection in terms of he's in a violent to bring. Your last written by we had Brent might bring it to the switches that are you don't want a dog ethnic. A it it's really it seems unique to me. If it has unique feel to it it's very unique act act like to say that we we office from the very unique and market their they're there many folks that have and to this industry but I think. In terms of you know pretty hospitality health care health care to hospitality. Our our our leader Scott Shuster always have that vision that we need to hospitality and I think. In terms of I am really bring that to fruition in terms of everything we do every day you see it. What's really exciting. The one we gave way. Is we have this this concept we that we there's something had to leave handsome programming. And became this concept of and I are for us and for a residents represents a lifestyle a lifestyle of how the likes of of knowledge it's a lifestyle of eating well being while socializing enhancement. We look at it you know you can equate it to water and what I've flown since the flow of life. So we think it's important concept and that concept will be lived at one wing gateway. In you know we really hurtful to. Opening that facility plant opened in March we have so much excitement happening around it folks Ariza you know leaving us deposits. In checking a floor plans of implement it unit so you know it's it's very exciting do you think it will be sold out you know just in time. Congratulations day. Compliment to your success the facilities are fantastic and we appreciate Euro biting sort to participate thank you so much parenting capping it can't. We yet when we come back. We're talking about more. Specifically. Shock there is east surplus of condominiums in money so if you look at her bargain. That's going to be talking about where broadcasting today life from the windy residences in Needham Massachusetts. Doug Barry Armstrong and chuck it's not a talking about business financing your wallet. Well about how to keep the green and had he been here on the financial exchange radio network. You may know that advance the state claiming has many benefits including avoiding -- keeping your assets in your bloodline and protection from the nursing home and even future divorces but did you know that you might be able to eliminate your estate taxes each week -- must be a partner with the law firm of -- in -- educates his listeners on the legal exchange by telling them how to protect their assets he has written a new guy that we'll show you how to increase your beneficiaries inheritance by decreasing your state Texas in some cases you can even eliminate your state Texas all it takes is a little advanced estate planning the elder law experts at -- in Dolan have been helping families like yours for more than thirty years let them help you to call the request their new -- asset protection strategies to reduce or eliminate estate taxes 8668485699. Or download the guided our web site legal exchange showed dot com the call -- free and so as the -- 8668485699. That's 866848569. Million or get a by logging -- legal exchange showed dot com. Are you tired of the daily burdens of homeownership are you considering the advantages of joining a 65 plus senior living community hi this is very Armstrong and wanna tell you about one windy way located at the crossroads of Newton Needham and Wellesley. Enjoy a life with style and exceptional services one win gateway offers spacious one and two bedroom rental apartments beautifully designed common spaces elegant dining and now featuring Aqua by Wingate win gates owned health and wellness experience integrating aquatic fitness and salon services where residents can refresh restore and re think. One Wingate way opens in March next year but is now leasing. To learn more and schedule a private tour call 7814559080. That seven anyone. 45590807814559080. Or visit them on line at one. Wind gateway dot com. Tiger but he very Armstrong here from the financial exchange and I'm joined by. And leader bank has an exclusive. Program. For those of you who are landlords if your corrupt collecting rent from one tenant for a 101 tenants he ran it might be something that you want to look into Jake talk to us about zero how long has it been around. We've been offerings he ran for almost two years now two years and his have been successful spent extremely successful we've. Offered this product to really target our landlords were still collecting checks in paper form in this teenaged. And the purpose of zero needs to really bring everything online meet you electronic but more importantly. How did he said it and forget it so what's a landlord hazard tenants that up. And really there's nothing that needs to be done until the leases over. The rent is automatically drafted from the Tenet's account he knew he choose the date of the month does it always the first of the month or could be that there there that's a sign attendant on the fifteenth had to be the fifteenth of every month yup absolutely still in courts that's the initial date. Whatever day of the month that is. He'll be the same date every month that'll be collected how much does it cost the landlord to set this all so it's absolutely free if delaying or banks with us OK so if you're idea landlord you have your bank account leader bang you get this is you rent service for we get for free path you have a bank account elsewhere will still provide a service for small monthly charge. And if you ever decide to move your bank relationship over waive the fees so it's pretty pretty simple it's pretty cheap. And it's a great product are landlords are obsolete loving it. Love it all right it's called see rent and the website for his www. C rent dot net. Or you can call leader bank at 8776917900. To learn more 8776917900. Collect your rent electronically makes an awful lot of sense to me. The phone number again 8776917900. Or visit zero rent dot net. The markets are still volatile. Thorpe. Get our weekly monthly recap by becoming a member of batteries for gates' visit financial exchange showed dot com and sign up today. In 1959. Broadway musical the sound of music was composed by Richard Rodgers with lyrics by market Oscar Amber's. There were also used in the film adoption of the original play prior to their. Contributions to the sound of music Rogers in Amber's team composed the music for other productions such as Oklahoma South Pacific indicating. Winner on this one was Vincent from Everett Vincent takes on a fifty dollar gas card. To gulf. Don't forget about Armstrong advisory group's offer for a free portfolio review let AG help you pursue your financial goals cultivate told free. 803934001. That's 800. 3934001. Set appear appointment today aren't strong advisory group and securities America companies unaffiliated. It sounds to me chuck is if there's another Condo bubble brewing. In Southport specifically. In Miami not on the West Coast but in Miami they been overbuilding again and I'll tell you what you're looking for bargains. You may be able to pick something up pretty inexpensively during the next year. Yeah you got a little something going on in Miami at this point done Miami Dade County in October sales are down 30% year over year. In the inventory for sale is now over 141000. Used to two in the count I just remember the Soviet it's like the it's the story repeats itself every ten years down at the current sales rate there is a thirteen month supply. A hall of homes on the market at typically in a healthy market is about six that's what most realtors tend to aim for. It a lot of other parts of the country we elected inventory shortages where you only have three to four months of inventory. But Miami right now there are some real stress there and part of it is just due to over building you've seen so many of those highrise is going up near the water. And you know it's something that. I do think when we talk about you know the the northeast this is something that Boston at a certain level does have to watch out for because there's been an awful lot of construction up. And I don't think we're there yet. But at a certain point you can only put up so many high end apartment Condo minutes before eventually you don't have enough people to fill the Miami seeing that now. Boston isn't going to nail you think about it very international city. You know a lot of people from South America vacation there you figured it that the demand would be exceedingly high. But evidently they have not planted out well you know who's getting hurt on this a lot of people who pre bought in the going and you know the the that the design would be Ian. And they buy it before the shelter we've had hit the ground I think you know we're gonna make 30% when we put this thing in two years and it's all done. Not the case these people are losing money in walking away from their deposits. Yeah what what we've seen and beat these numbers are pretty staggering so out of the the condos that have been completed. In the last five years. They're 878. Pre construction units that are listed for sale to raise those are units that as you mentioned were bought with the intention of eventually selling. Out of those 878 we've seen 47 sales you're talking about 5% of the people. That are trying to flip these properties are actually able to 43 the percent of those sales resulted in losses for the people that bought. It's all right let's talk about him as a you've been very critical in the past Amazon.com your dollar will note you are a daily customer. Amazon.com. Sometimes more than Dale's sometimes more than daily and and I've actually switched by allegiance to jet dot com because they saved me fifteen dollars. But. On Amazon dot comedy you your criticism that the company was that they were not protecting people who were selling. Goods and services on their product out there at different goods so the one week covered with a Z. Companies that the straps. Seat could move furniture and heavy items like refrigerators forum for the fourth thank you the the forum for us and we covered that were company. Was almost pushed into bankruptcy that because they had illegal. Fraudulent competitors selling saying you lose the pour pour it wouldn't when in fact it was not. Exact any Amazon allowed that to occur for along time. And for forklifts big point of contention a tape you know we've notified and not doing anything you know now proactively doing anything to you know check these people to make shoot there actually. The real company what Amazon is doing now. Is Amazon is suing a couple of different sellers in two lawsuits for selling counterfeit. Good counterfeit goods. This is not the solution for him wildcat so here here's the problem and not stop it before they can get in the first thing you need to stop them for the it and sent it is that on this lawsuit Amazon's list is the only point. Okay for forklift even though their product is being ripped off is not a point at which means they cannot get any relief in terms of monetary compensation so they're still out. An awful lot of money. Beyond that Amazon is only going after. A couple of the counterfeiters before fork out there. Form forklift says there up to thirty counterfeiters that are operating right now so Amazon's not actually doing anything to go after all those this to me. Seems an awful lot more like PR that actually constructive step to deal with the problem. There is still a big big problem with counterfeiters and Amazon I see this as someone who loves the convenience of Amazon. But you have to be able to support merchants because eventually your merchants. Are gonna pack up and leave they're gonna say look over somewhere else or. There's just he can't make any money or they're going to go to the new administration's coming in that doesn't like tech companies very much as a specifically wasn't like Jeff days they're gonna go and say look. We're willing to lie you know participate in something to try to break up Amazon that you're gonna have all kinds of companies lining up against him. You'd think they try to break them operatives who they DOJ just comes in and says look over here not there you're not protecting. The little. And that's what is that what was that they're not if no interest at least that demonstrated no interest. For a protecting local retailer who wants to sell it's on their site I think it's both but it's also the case teammate that these other companies. Have any whirls to focus Amazon takes 60% of the new dollars are spent on online retail that they know they're up to 60% to 60% every new dolls he died. The that's why I'm trying jet and color but he dot com one seed money but to it inspires competition because I think it was but Adams. And this look I I love. The convenience of Amazon I love what they've done Clinton pushed forward retail but this is a problem for the and they need to contain they need to do more than this. You know it's it needs to date here stopped by the way is up today it's up four dollars and twenty cents at 747. And you know I don't wanna be too critical of the company because I have used it. You know spin and I and I liked it but I I do think you should look at other services that are provided the the other. They had mentioned the stock is it has been as high as 847. Dollars shares right now with seven votes definitely if it doesn't always go to. They want to thank you for tuning in to at this hour of the financial exchange we are broadcasting live. From the Wingate residences in beat them. Massachusetts. Sheehan Dolan and you know product that's of high net worth clients. That would like to reduce the size of their state. But the one I give up access to their assets they still like playing with their money select investing excellent traveling is there anything they can do to reduce the size of their state. Yet still maintain some control in the ability to use the assets they've accumulated you know there actually as I remembered you remember the fiscal cliff you know that back in the late 2012 should grow we had a big fiscal cliff for everything was gonna go back to a million dollars and your exemption federally was going to be reduced to a million and that we're a constant extreme tax pain for a lot of people so what we. Came up with is the spousal lifetime access trusts which is just that it's the way to make gifts because we would tell clutch and you got to move massive Saudi or state before the fiscal cliff hits. And then they would say even if they were worth ten million they're like yeah when we little wonder that the accused and we wanna give it away. So we figured out a way to use these trustee spousal lifetime access trust where you can actually husband gives her husband's trust. But wife can use the assets and husbands trust and wife puts and a wife spousal trust wife can't get it but husband can. And so they can come across share with the each other so it was a way of making a completed gift giving me. Asset out of the state so that it would grow estate tax free that's sort of a nasty disease get the growth of the Dow lets the five million and that trusting gross to be ten as the whole ten out of state tack exactly and that's exactly what you wanna do get the growth out and you can still enjoy it. They learn how to play with your money and control it reduce and eliminate estate taxes this guide available from Cushing and Dolan 8668485699. You can reduce or eliminate your federal and state a state tax liability learn how to do it by calling Cushing handle it here's the number. 8668485699. That's 20386684856. 99 I bad beat yet can have an all proud of the same people at school who got excited about tomorrow's Paulie got to pass while the rest of us looked out the window hoping it would snow and a lot. Waterville Valley resort is for people who want to. I don't know what other resorts stood still we'd done it. Prejudice 45 liters of fresh terrain and right now with this kind of grab your season. And to make reservations. And all have Waterville Valley resort for a everything Waterville Valley visit water buildup top Waterville Valley resort is a proud partner. Are you tired of the daily burdens of homeownership are you considering the advantages of joining a 65 plus senior living community hi this is very Armstrong and wanna tell you about one windy way located at the crossroads of Newton Needham and Wellesley. Enjoy a life with style and exceptional services one win gave way offer spacious one and two bedroom rental apartments beautifully designed common spaces elegant dining and now featuring Aqua by Wingate wind gates' own health and wellness experience integrating a chronic fitness and salon services where residents can refresh restore and rethink one win gateway opens in March next year but is now leasing. To learn more in schedule private tour call 7814559080. That suddenly one. 455. 90807814559080. Or visit them online at one win gateway dot com. 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 that just makes sense give leader bank a call and 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 in May go down in value leader back a step ahead you may know that advance. The state claiming has many benefits including avoiding probate keeping your assets in your bloodline and protection from the nursing home and even future divorces but did you know that you might be able to eliminate your estate taxes each week Todd muskie a partner with the law firm of Cushing in -- educates his listeners on the legal exchange by telling them how to protect their assets is written a new guy that will show you how to increase your beneficiaries inheritance by decreasing your state taxes in some cases you can even eliminate your state Texas all it takes is a little advance the -- planning the elder law experts at -- in Dolan have been helping families like yours for more than thirty years let them help you to call the request their new guide asset protection strategies to reduce or eliminate the state taxes 8668485699. Or download guided our web -- legal exchange showed dot com the color screen and so as the guide 8668485699. That's 866848569. Million or get a by logging on to legal exchange showed dot com. This is the financial exchange with Valerie Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks on. You know I was talking to my wife last night they're talking about home he. We filed a lot of home. Live in an old farm house. That maybe this is the year we were able to fire home heating oil for less than two bucks you know W well I don't know if that's going to be the case because all the sudden. We've got to oil prices rally is alarmingly bad but you've got oil trading at 4670 war I everybody it's Berrian chuck and that are operating at that bargain basement price of oil that we had last supper. Now we just we continue to bounce around really in that 44 to 48 dollar range occasionally go a little bit lower occasionally a little bit higher. But not a whole lot of movement there you know if you take a look at equity markets today. Dow was down about 65 points right now the SP is down about five NASDAQ is up about 910 rallying after couple weekdays. That might be somewhat of a dead cat bounce there I'm not sure that's gonna stick around for too long. Ten year treasury today is up pretty much unchanged 2.2 3% which you know. Went to talk about that move him yet what it 20% boo. In the ten year treasury. Big move yeah. All right lets you went from being around one point 8% to blot you peaked out at two point eight bit ahead and get a decade it is again and it's probably a little bit but you you have to remember that with what we're talking about with president trump coming into office you talking about the potential for. Tax cuts as well as potentially some spending on infrastructure and the thing you have to remember about that. We haven't. Yeah we've kind of gotten old in the sense this false sense of security over the last seven years where. Interest rates two is never one you never saw the move and people were largely unconcerned. With. The amount of debt that we're we are concerned that bond traders can really seemed to care that is that while the safest place to go and that's how it's going to be sure. What you're seeing now is potentially people starting to look at and say okay over the next couple years we have these tax cuts we do increased spending. And maybe these bonds starts take on a little bit more risk because of that so so what it paid more. And so you pick up a little bit of a risk premium there's what they call it that additional risk that you know. Maybe there's an extra inflation rates have to move a little bit more and added a three years at a 3% ten year treasury and tungsten I don't think so. But it's it's something that if you'd asked me two weeks ago I would sit not a chance I'll say there's a chance to. It yet and friends that work at Sam Adams the Marie. Not anymore had a couple originally by. Not any at this point it's a it's a great game yeah I don't know if they pay. Money error about the salaries are. Art and I don't know with the work environments like but I doodle. It'll bar right side office right so we knew the end of the day and go get free beer and I didn't know that every month. Every complete its severe. They do and it's it's one of the big parks in the you know yeah you you never meet any one who doesn't drink working for Sam dealt you know whatever it is it's around the iris it's one of the reasons that you're there well. Will back up in Canada yes OK is now owned by Anheuser-Busch in. In in a memo that they just put out a couple days ago. They've wanted to keep parts retirees there used to get free beer for life definitely did that perk is gone this is a big problem. This alone isn't a huge help you think this is an epic in Canada. Our consumption of beer. Is probably about the place that there was nothing else to do pretty rhetorical lot of beer and if you meet Canadians you'll notice that we can be little large. In India much but these two things that we lot. Lot of beer legal elements in did because of the color but we don't tend to be a larger population not more people. Larger purpose site but yes there were making this is something that was a retiree pork. For forever what is accurate number EU worked for robbery you got free beer for the rest like you know was behind this. The wonderful folks three G capital. Spurs is that if anything is for three G is say that's private equity firm it's a starter by three Brazilian guys wondered dropped. In to what they do. They've run great businesses that are that businesses and phenomenal job where their shareholders. But pretty much they come in and they just start putting in the flooding in cutting it to the other guy not the year. You don't have to pay it that's just sacrilegious. You know especially. You don't apparently Adam realized that I Molson Coors have cut out there are free beer program a couple of years ago is the what's the incentive to work and burglary he can't get free beer. If it was it was part of the culture of the company. Now is cutting 115. Jobs a tele TV out the mutual fund business. The news. In trouble. See what it was a big. Mutual fund company and up there with them they're not in the future asset size was 154. Billion dollars. In apps here that disease while the company it compared to fidelity compare to American funds compared to guard. And it's very small player in the mutual fund industry and what has happened. Over the last five yours is. Investors. An investment advisors. Have gotten away from using mutual funds why. If you look at investing in mutual fund will be looking at in terms of the applicants are probably one right around 1% and what a lot of investors have begun doing is moving out of those actively managed assets. And moving more and index funds or exchange traded funds that are significantly lower cost in generally. Also tend to have pretty much too terrible performance or better better in a lot of cases so what happens these companies sleazy. You think about let me get it that those few that I'm thinking Putnam small. Very bitter deer caught in the scale right and the offense another cup race at deer deer are at last I looked there were 85. Different mutual fund companies just in Boston. And so in the and you use extrapolate that mutual fund companies are there across the well. It just eat it boggles the and it makes me wonder how how these guys survive for. Well look they have to adapt or they are going to slowly die off that it's it's not going to be in you know instant shut down these companies but to put into perspective. In the last year in the mutual fund industry. Actively managed funds have lost 216. Billion dollars you're talking almost a quarter trillion dollars of them but he didn't. Moving away from actively managed funds and and it's still invested in the markets it's just not invested in them and Emma that absence of these other two look at it I'll tell you it's not like this is going to be replenished by the next wave of people coming up and investing in 41 case a lot of millennial investors prefer to look at things like ET apps because they're lower costs that's what they've been educated on. Throughout their entire life so. These companies they're going to have to adapt whether it's getting into benefits whether it's getting into other areas to deal with companies. I don't know but you can no longer be just a mutual fund manager and expect to survive in the long term you have to come up with another plan but at least are immersed in what I've tried to envision. What happens to these companies here's a call ED. In that Boston. You all the sudden they have the merchant ordered to try to survive I think he's he's shutting down the night I was it is going to be like to hedge fund industry the last couple years with a hedge fund industry. Over expanded and every one you know if you worked in finance any point of what's it all I gotta have a hedge fund I got to start my own fund its you know what you're trying to do. With a hedge fund industry's had a terrible couple years you've seen a lot of those new funds have to shut down this for a different reason. You're discussing these phones are down because there's not that demand for the product and what it's like being a guy who makes wagon wheels in 1910 you're sitting there saying. Others are mobile Charlotte tough but let's just keep making why it doesn't work like that you have to adapt. You know EU EU think airline travel can't get any worse. But he can. United airline staff. Is offering he'd do basic economy fair. You're not allowed to use the overhead bin space for the police that you owed to do that with the artist is about how are they get a police that. I. Ali knows you must have devils but the special finger partners is general you're you're not allowed. To carry on bag this kind of thing that's. It's like a joke you know you just don't think it's real. But if it actually is they are there adding a new layer of basic economy it's below your traditional economy which is kind of shocking also. And they will not let you have over. Had been space next what they're gonna have is the economy where you get to vote plea out to the right. We have duties they strap on a rope to the Kentucky totally out to the Bradley you get it an extra ten dollars off its price Utah my favorite chew up proposals that I've seen came from a Ryanair the cheap airline out of Ireland if you're gonna people's that they were gonna have people standing holding pols like you do on subway except the they they pretty much like look if there's turbulence in the debt problem go right into the ceiling. They had another one that was great where they were gonna get rid of the regular seats that they dusty back and I think and they were gonna replace them with bicycles. Up so that you just isn't on his little thing that just kinda goes right there and yet no way to weed backer and he thinks we try to nap knees fault of the lap the person behind you is that a Scottish company is that something iris heavily Irish and Irish can be cheap I believe it's -- yeah. Eight up next we're gonna be joined by Scott Shuster Scott is the founder. The Wingate. Operation and we are guests today we're broadcasting. Live. From the Wingate residences in Needham Massachusetts Obama. Really a fine this is the financial exchange radio network. Are you tired of the daily burdens of homeownership are you considering the advantages of joining a 65 plus senior living community hi this is very are strong and I wanna tell you about one windy when he located at the crossroads of Newton Needham and Wellesley. Enjoy a life with style and exceptional services one win gave way offer spacious one and two bedroom rental apartments beautifully designed common spaces elegant dining and now featuring Aqua by Wingate wind gates' own health and wellness experience integrating a chronic fitness and salon services where residents can refresh restore and rethink. One Wingate when he opens in March next year but is now leasing. To learn more and schedule a private tour call 7814559080. That 71. 455. 90807814559080. Or visit them online at one. Wind gateway dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting process and teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member -- the -- equal housing -- stimulus number 449250. Subject -- credit -- -- -- a step ahead this summer -- over the kids -- back in school and raring to go -- -- is a perfect time to reset your schedule in its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for -- was reviewing my insurance -- -- this is Jason Walsh chief marketing officer of the financial exchange radio network -- if you're like me -- needed to reset on your insurance policies I want -- -- call the -- -- -- one call provided -- with multiple quotes from several of the -- insurance carriers I wound up with a revised homeowner's policy -- a brand new -- policy that included coverage of a third car -- my older daughter because lord -- she doesn't wanna wait -- to -- Marc -- -- match today -- 844 and 99 match -- -- for four and 99 match and through -- Massachusetts division in -- let them -- present -- with information that is -- to help you -- -- over -- thousand dollars a year in my new deal and I know they'll try to do the same for you call today at 84499. Match or visit them online -- insure -- match dot com. You may know that advance the state claiming has many benefits including avoiding probate keeping your assets in your bloodline and protection from the nursing home and even future divorces but did you know that you might be able to eliminate your estate taxes each week Todd let's -- partner with the law firm of -- in -- educates his listeners on the legal exchange by telling them how to protect their assets is written a new guy that we'll show you how to increase your beneficiaries inheritance by decreasing your estate taxes in some cases you can even eliminate your state Texas all it takes is a little advanced estate planning the elder law experts at pushing -- Dolan have been helping families like yours for more than thirty years let them help you to call the request their new guide asset protection strategies to reduce or eliminate the state taxes 8668485699. Or download the -- -- our web site legal exchange showed dot com the call -- -- and so as the -- 8668485699. At 866848569. Million or -- -- by logging -- legal exchange. Oh dot com. It's our daily poll question had financial exchange showed Dodd John. Vote your conscience and Arabs just vote go to financial exchange oh does come in castaway. We did residences. Massachusetts your voted to stop on by by the way were having lunch we got some great. Great snacks as we work our way through the show that we're joined now by the founder and president of Wingate and. This is quite quite a facility that. Lately and we talked to Timbaland. Earlier in the show I wanted to talk to you about the the business accurate. Health care business to go through your your knee I I look you're your business structure and it seems like your health care provider. Is that. And we are you a different describe yourself we we are you know it is actually afraid to question so. I corrupt real estate family. We the my dad grandfather. Developers. Property management builders. And you know back in the 1980s and helped their laws changed. Now to the axle. We saw the change in the Indy it is a structure for affordable housing. Nationally that we are involved and so we decided that health it was a very synergistic businesses and looked. Very much the same. There was a very big operate component that was different than we were up to the challenge and we beat me shifted in one of our business and so. We became health care providers. In addition being real estate developers and managers though. That was a big switch. Operating is very different business than than building realist. More complex more risk. More responsibility for people. Penalize them and care margins the markets marches are slow lower. They've been eroding over the years ago when we first got the business back in the eighties and the margins were significantly higher. But. Health care has you know over time. Gotten any more complex that the the residents that we serve the patients we serve and the skill side the business. Are very. Complicated acute compared to what they were fifteen point years ago. And I think we've seen a shift so in in. In that we gave residences here. A lot of our residents. Gave might have been nursing home residence 1520 years ago or. Nursing home residents today are coming in with highly complex medical conditions they need a lot of care. Many had difficulty getting it out of bed. We do a lot of rehab work for people who post acute and amp add either medical event war some kind of a search. Well for future with Scott Howell as a country. How are we going to deal with news. That the baby boomer generation this the baby boomers that influence our country tremendously. Over the last sixty years. And that group as I understand you know the number better than I do but I think they have but another couple years with continue to do that. Population continues to grow as a country that we provide health care to populations that art. I think it's a reality check I mean we won't we need to understand the health care costs are going to increase because more more people. Our. Europe are getting access to health care through the Affordable Care Act and health insurance coverage. People getting older and the older we get the more health care services we require in itself life for Medicare and they offered to Medicare and and and in India there in the hospitals more for treatments surface so. I think the idea has been that you change the care delivery model. And change the way we look at health care as a system. Starting at the very top and very bottom of working your way through it hospitals and physicians are looking to find ways to. Be more efficient with the test that they pay go offer and require. And the amount of time that they spent with patients and who sees a patient whether physicians and petitions. You know we the other recipient of war. Acute patient to a coming out of the hospital system in to a post acute environment where. We can treat and care for them at a much lower costs and and more effectively and efficiently. What do you foresee because in in talking to people in your industry they'll tell me will bury the you know we're allowed. Thirty dollars for certain procedure like your margins are being compressed. By bureaucrats. In Washington that's gonna make rubbing your business very difficult because she thought you're dealing with a fifty dollar march and he might do thirty. You know you're borrowing money at me if you're you're like any other business Sony you just happen to be in the health lists. Our our costs go up. Like everybody else is is this but the security of our where our patience. And their needs go up as well which means you know we've we've got to provide more care. The system. Under the Affordable Care Act is a little bit uncertain at this point particularly with the political landscape changes we've seen the last week we've been dramatic. This book we know what's happened is over time we've beeping compressed and you know margin by a pressure downward pressure on reimbursement rates to reduce or costly. However the real. The real advantage of this steal personal business is it and it will continue to be that we are located in virtually every community throughout the commonwealth and throughout the country. We are pep geographies in our favor we are extraordinary platform to provide services we are very low cost provider cost effective and efficient. What we don't have it to regulation. And the authority to provide some of those services for post acute patient and we don't have the reimbursement with. This is you must make an investment in the post acute phase. In order to provide. Higher levels of care it will reduce the costs as in upstream providers continue. So if you come in for example and you've got up and 8000 dollar per chemotherapy. A drug that you need in Conte doesn't Osama we can't accept. Well and we can accept you because the cost of two at all today. If we don't get paid for that that we're all inclusive rate in America. That patient stays in the hospital at 3000 felt that day right as opposed to a nursing home at five medals today plus the cost that the chemotherapy drug. So the system hasn't figured out yet how to change the regulations and change to reimbursement to invest in the post acute system to bring down club. Do you think you'd see a lot of changes in the drug industry be because that was C. A topic of conversation during the election. Look drug industries you know that's an ongoing discussion and I. You know we have our own an institutional pharmacies that we operate out of Marlboro and Plato Connecticut. And we serve probably over 121000. Patience at any given day. And and I I think it oh you know what we're seeing is it just it's a big fight for the investment and creating new drugs and the cost that that that occurred and now. And it must be discouraging for you when you see. Companies like week we covered the violent labs story we covered dish Crowley story where. You know these are cut drug companies get acquired perhaps by hedge fund or private family investor. And then they Jack up the price by 400% to 5000%. Team it is that's. Do you see the editors are just recording one. So I think your reporting on the right subject and I think it's it's a bit of a travesty that the problem is that your. You know you've got all the private sector's best in the money to create these drugs they're getting royalties and rights. In the conference on them for long periods of time the question is how long should they have the rights to control those drugs. Over what period of time the market should you take care the other piece which is if they have the right to produce those votes competitively. They should be able to jump in there. And and provide an author product or are Alter products it yet it was it was a bit of I think. Pour execution by the company's debt that it had that alternative and in terms of the injection system and the complexity and it's I read it. But you know associate that day anti pain group had a real competitor that market and that's prices would have come down. If it's a if it's going to be an interest to landscape for. It is seat the next I would suggest to you that that you're probably taking the next five years are going to be more challenging of the last 25 can. You know we so we know our our strategy right now is to. That's number one we we wanna beat geographically concentrated where we can provide. Services to not only our families and and and and residents but also took the upstream referral sources of providers who need us better so the Boston hospital system has a number of markets have served. We wanna beat all markets geographically concentrate concentrate at the ballot. In the greater Springfield market. Providence, Rhode Island Cape Cod and it will build those geographic areas out as well as other areas we can find throughout the United States particularly eastern seaports. Well congratulations on building out a terrific business I admire everything you've built here I feel like them and Ritz Carlton is the through the day. We're broadcasting live from the windy residences in Needham Massachusetts stop on by have a cup of coffee join us for lunch will be here for another hour so. Gary Armstrong and trucks up. You've got a barrier and strong financial exchange on the financial exchange radio network. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and analyst number 449250. Subjective credit approval leader bank a step ahead. Hi everybody very Armstrong here. The financial exchange and I'm joined by. At leader bank. SBA loans boy they've been around for awhile but not everybody takes advantage of them and very few people know how they work. Thanks very yes we we to a lot of small business lending its leader bank. Where preferred SBA lender which really means we can make their decisions in house and you quickly within a couple weeks good. So we've been very active because a lot of small businesses have been growing in this economy so for example we have a special right now. Which is small business loans up to 50000 dollars. We're offering a fixed rate of three point 99%. Fixed for four years and no closing costs. It's been a very popular product but more importantly we're really helping small businesses who need it grow and expand their business. There's a lot of uses for these small business loans and give you a couple of examples. We recently helped the restaurant and Cambridge that was doing so well they actually need to expand in the space next to work. We help them local law firm. Who need a line of credit to help expand its business sure we help today young local trucking company by a couple of new trucks because they're expanding it so there's a lot of different user is there's there's really no limitations on any songs for a good corporate use but it's 50000 dollar you pay it back over four years he interest rate is three point 99%. Exactly. With no closing costs it's a pretty attractive program it is our way to Kenny work with the local community and build small business relationships. Very good folks that's. SBA loans. Call them toll free 8776917900. Three point 99% to pay it back over four years. 8776917900. Poll Fareed. 87769178900. Or check them out online at leader bank dot com. You may know that advance the state claiming has many benefits including avoiding probate keeping your assets in your bloodline and protection from the nursing home and even future divorces but did you know that you might be able to eliminate your estate taxes each week Todd -- a partner with the law firm of -- in -- educates his listeners on the legal exchange by telling them how to protect their assets is written a new guy that we'll show you how to increase your beneficiaries inheritance by decreasing your state Texas in some cases you can even eliminate your state Texas all it takes is a little advanced estate planning the elder law experts at -- in Dolan have been helping families like yours for more than thirty years let them help you to call the request their new guide asset protection strategies to reduce or eliminate estate taxes 8668485699. Or download the guided our web site legal exchange showed dot com the -- -- free and so as the guy at 8668485699. That's 866848569. Million or get a by logging -- -- legal exchange showed dot com. Are you tired of the daily burdens of homeownership are you considering the advantages of joining a 65 plus senior living community hi this is very are strong and wanna tell you about one windy wait located at the crossroads of Newton Needham and Wellesley enjoy a life with style and exceptional services one win gateway offers spacious one and two bedroom rental apartments beautifully designed common spaces elegant dining and now featuring Aqua by Wingate Wingate owned health and wellness experience integrating aquatic fitness and salon services where residents can refresh restore and rethink. One win gateway opens in March next year but is now leasing. To learn more and schedule a private tour call 7814559080. That suddenly one. 455. 90807814559080. Or visit them online at one. Wind gateway dot com. Follow the markets from start to finish and get our daily market recap every day at 5 PM on our new web site. Financial exchange showed Doug come fix the financial exchange radio network. It is time for trivia. And I've got an easy one for this as you know and make it easy for you to pick up for fifty dollars. It which town. Did the regal Von Trapp family settle. Once they came to America now art text number 686 it you know I think you know how to play you just hectic text the correct answer to us. And the first listener with the correct answer wins the fifty dollar gift card. It's a gas card. In which town did the real Von Trapp family settle once they came to America and again that text numbers X 8680. Check out what talked to you a boat and he said new supersonic. Passenger plane. That's coming to the market you you do remember the Concord grape toaster that was a plane. That Hussein was developed in the seventies. To built in the late seventies the last time it flew I believe it was 2008. Just because the fleet pretty much ended up coming too expensive and especially after the Air France crash on take off the rich don't want to fly it was a great. Yet I mean I did it come in Boston I remembered that I don't think it I don't believe so I believe they flew into New York was typically where they were landing. We could get from London. To New York in like three hours. Yet the issue that he had coming to Boston now because the Concord as some strange wings that are built for supersonic travel you have to land a long runways commitment hires speed. But what Richard Branson is trying to do the founder owner of the virgin non network of airlines. Is he has come out with they Planar he has announced a prototype called XP warned. That he is hoping to have ready for commercial travel. By 20/20 three so about 767. Years away at this point. And he is trying to do this in such a way. That it is still as affordable as traditional air travel which elderly the other big problems with concorde was it was so much more expensive for. That a traditional flight. Yeah a lot of business department wouldn't allow their executives to fly it. Because it would cost you know ten times as much as every electric. Yet so this this plane this underwent the XP one he's trying to work get it to fly at mock twosome twice the speed of sound. Obviously the predominant routes would likely be. Over water just because of the sonic boom and everything that causes would W little bit disruptive so when you look at it two and a half hours. 315 from Mon New York to one. And and how much will cost they're saying it should be somewhere in the ballpark of where a flight currently is today I. I don't either here's a legacy what eighty people yet I I just I don't know east. If I just don't see supersonic travel being feasible in a mass market airport maybe it's the same price as the business class or first plastic. Because of a first class ticket would be wiped. Three or 4000 dollars to go to London. For May maybe it'll Morton. I act and it's not easy to eat eat he would do X it's doing it very you know a thousand bucks that it just it doesn't seem feasible to me. But I'm also not an aeronautical engineer on that that. He. Very accurate. Mean we haven't changed and improved our jet speeds in sixty years who are still flying at 1960s. Beats so we've noticed you go to San Diego. It's it's the same time as it was sixty years. But the big part of that is just because of the way to commercial air travel is set up yup large planes on those. Unfortunately in order to be efficient at supersonic speeds you got to take you gotta cut corners on things elsewhere. And the problem is that makes it more difficult and more expensive to do so so. I wouldn't be surprised if for airplanes we continue to see you know look 560 miles an hours he's gonna continue to be your cruising speed I think. Just because that's where we get the best efficiencies and that's where the cost is the lowest. So we've you know we approved marijuana in two of the six New England states and I'm talking about recreational. One it is now approved. In Maine and is approved in Massachusetts now. I don't think you're gonna have a pot shop opening up in your neighborhood in the next year but I would suggest that it within two years you will. But now we've learned and I'm quoting here marijuana use is associated. With an almost doubled risk of developing stress. Party Il myopic. A sudden life threatening weakening of the heart muscle this according to a new study why didn't they Telesis two weeks ago. I of the main difference you know you would have no I don't think this would have been ever won a masters dollar wanted to do was find their tree and you know they wanted to be ready to go and and wouldn't that passed by Kazmir I thought it was gonna pass by seven points was and thought it was eight or nine it was somewhere in that ballpark summaries that 5446. Stuck in my head but I could be wrong on that. But yeah this was a study that was done coming out of the saint Luke's university health network in Pennsylvania. And they had found that out of three. 33000. Admissions. For stress Carty about the Ian 98 year period. 210 of those right notified marijuana users which ended up being about twice the odds of developing the condition is someone who did not use. It never heard this before that you make it when I showed this team and it did you ever read. I read about cocaine use in. I haven't seen this I think part of it is you need to find some studies that confirm this because keep in mind you know. Just because you found marijuana use it could be related eating too many to read notes that's true that you know it could be sort burritos or or burritos probably move burritos I mean it could be anything like that so. It certainly is something that's concerning and you want apps and followed on on it. But you know historically as you mention you hear about these types of things with cocaine marijuana was typically. Now animal chilled out I would have a heart problem but apparently this is something that does needs further research. List which is the little brother. Looper in your competitor to Hoover they're trying to differentiate themselves from Cooper and what they've done is they now. Created eight dash would you would you call not a dash came to light. To light seat in more easily identify. The car so I don't know if you've ever used lifter mover but. If you're in a big city units at night. It all there are I was in New York this past weekend it's it's populated with black levels right here either black suburban server. Black toyotas or black Lincoln's and you could never figure out which car was jurors. I'd agree experience a couple weeks they'll actually Wear my street in Somerville is not a whole lot of people there but you know is this enough obviously. Come out to log lots dinner and go to get over. And there's two of them out there and so the guys coming up to we got into the wrong cars actually and it was only after we got into the cars that we realized. OK we were. We're actually not in the car were supposed to be in so will lift is gonna be doing is they're gonna have this. Light that's mounted on the front of the windshield. And what they'll do is it will be a certain color depending on. That the right it is picking up themselves and tell you he would tell you that Arlen your own life exactly so that way if you have to in the same area they're picking up on State Street. You say okay this one's got a late this one's got a green one. And you know what to look towards that being immediately mean jumping into the wrong car bonds but it. He's permanently installed because east with the isn't over these vehicles these are you know that your license over drivers so it they gave us no longer anymore actual value. Because they fired I haven't updated my insurance information that could have been too lazy so no longer allowed to talk I fired. Jerry he's fired up over. But out this it's gonna be a temporary. Adhesive that sticks under the dash so you know how the but what they feel controls the the home office exactly you know how the GPS a system that's the gun dashed oral suction cup and everything it'll be something similar to that that just sticks there. And then it just six up with your phone it's in the cards now Cooper respond in kind. We don't know yet I would imagine that they'll probably do something similar thing for it's it's easy way to look at advertising. It is yeah it you know it's the brand out there it is lift EU always talk about rumors that we used exclusively via wide useless. Any particular Friday to try to its fund is that if they pretty much identical if it is identical they got rid the other mustaches. The right it is the mustache gone. Eight inside skinny here. You heard it here first there will be three. New iPhone was launched in 217 this according to an analyst a specialist in apple products lines. I am. This was rumored for this is the depicting the legacy. Is it too well two sizes that he had to date that are going to be very similar that's gonna come out in the next version. There also gonna have one with what is called. And OLEDs green organic light emitting di. Hello it would is that I've mr. hot stuff that you on the back up and go through what OLED is. Is it is a method this creating a display. That tends to be much more efficient in terms of energy usage. Produce much more crisp and clear displays the battery last longer the battery should last longer and the other thing allows you to do is also last built curves three stories all the screen even occur right now for TV's. Those are all built with OLED technology is the next iteration. All of your flat screen display. The reason they didn't put it into this year's model which is due to cost still figure out the manufacturing process the yields on these right now terrible. You can go through that when they were initially building these you refine that they had to get rid of 6080%. Of the displays they may because the quality support. They're ramping up now out to the point where we can actually build these at a high enough level that it can be for other going to be three different sizes of these bulbs remains to be seen whether it's three different sizes or it's just. The same size phone with a different screen. Either way you'll likely go see one of the big rumors. If you take a look at the phone now and you pull up screen only covers a portion of young black bars on right side on the top. The rumors that they're working on. Is that all of those black bars go way up in the screen has no medical. Now be an important same size phone the bigger screen potential and longer lasting battery the other thing that the talking about getting rid of the little at the bottom. Dots that you can have the whole screen. It would be used an eight look gays is a lot of changes going right. I think generally and I don't speak brawl apple product users but it. They're upgrade from the sixth to the sevens. It's not a lot to me why skip that you know I'm old enough that this is this going to be my upgrades and I still would upright giving any hints on pricing because like I still think high awfully cost him behind. It is apple as always CNET pricing power. They can't right now I mean they are seen actually saw an uptick in the yacht cost of iPhone or the the amount they were able cell phones for in the most recent quarter and even with that they're margins have come Donald apple used to be. A company that 40% margins in this base there down into the high thirties now they're compressing a little bit. They still make people he got a tribe time before he brought by new life private global pixel you're really good things about it. I just don't know if I want to make that move here if it is it that's a whole problems he had to change I'm I'm hooked an apple and Deborah I've got my phone Afghan computer I've got you know an iPad I've got all this stuff. I don't want to mess with the. It would eco that your ecosystem by ecosystem literary circle all right when we come back we'll have the answer to our trivia question and will be joined by Alex Zhao from Morningstar we have to stocks that will be talking about we are broadcasting from. The Wingate residences in Needham Massachusetts. Your business to you talking about your business needs this is the financial exchange radio network. Smart investors are already doing their year end tax planning because they know that on January 1 it's too late to do much about their 20s16 tax liability hide this is very Armstrong and here's a tip consider waiting to sell stocks until you've held them for twelve months it could reduce your tax bill from 35%. All the way down to 15% one another idea think about making non charitable gifts to family members rate now you can get up to 141000 dollars this year without having to report it to the Internal Revenue Service the Smart money is always on tried to lower your tax liability and we've got a free report that is chock full year in tax planning tips to get this free guide call right now 803934001. That phone number is 803934001. Or download your copy at financial exchange show dot com. Securities offered to securities America incorporated members and SIPC advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and our companies are unaffiliated represented as a securities America do not offer legal or tax advice always seeking advice and attacks professional familiar with the laws in your state. You may know that advance the state claiming has many benefits including avoiding probate keeping your assets in your bloodline and protection from the nursing home and even future divorces but did you know that you might be able to eliminate your estate taxes each week -- -- a partner with the law firm of -- in Dolan educates his listeners on the legal exchange by telling them how to protect their assets is written a new guy that we'll show you how to increase your beneficiaries inheritance by decreasing your estate taxes in some cases you can even eliminate your state Texas all it takes is a little advanced estate planning the elder law experts at -- -- Dolan have been helping families like yours for more than thirty years let them help you to call the request their new guide asset protection strategies to reduce or eliminate the state taxes 8668485699. Or download guided our web -- legal exchange showed dot com the call is free and so as the -- 8668485699. That's 866848569. 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This summer is over. -- the kids are back in school and raring to go in this is a perfect time to reset your schedule in its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me he was reviewing my insurance -- -- -- Jason Walsh chief marketing officer of the financial exchange radio network in if -- like me and needed to reset on your insurance policies I want you to call the insurer -- agency one call provided me with multiple quotes from several of the top insurance carriers I wound up with a revised homeowner's policy in a brand new auto policy that included coverage of a third car for my older daughter because lord knows she doesn't wanna wait around to borrow Marc Collins Sharon mass today at 844 and 99 -- -- eat for four and 99 match and through their Massachusetts division in charter let them researching present you with the information that is bound to help you are -- over a thousand dollars a year in my new deal and I know they'll try to do the same for you call today at 84499. Match or visit them online at insure a match dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader banked a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinancing all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Minarets PSE equal housing lender and Ellis number 449250. Subjective credit approval leader bank a step ahead. Securities America member in PC. Or securities America to. Hit our target recruitment security American companies. And includes. He showed him a financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network. The Von Trapp family settled thieves stole Vermont after they arrived in America. He opened up the trap that we launch which is operational to this day. Winner on this one we do actually have when it's frank from summer's worth New Hampshire frank is taking home a fifty dollar gas card to shell. Don't forget about Armstrong advisory group's offer for a free portfolio review the AG help you pursue your financial goals cultivate poultry. 800 3934001. That's 803934001. Instead appear appointment today. Armstrong advisory group and securities American companies are. Unaffiliated. We're joined now by Alex now from Morningstar here to do little bit of stock talk with us today Alex thank you very much for joining us. Thank you there are. Alex let's talk a little bit about BCE this is a Telecom company from. Up in Canada I believe is that correct. Exactly BP actually stands or bell Canada and apprised and that he can help from the name it's actually one of the oldest on company founded in. Canada and eighteen. Between seventy. What do you like about this company or should I even asked are you bullish or bearish on the right. Based on the stock price right now we don't think that there are from buying and the cart stock price for theirs they're deftly and we're looking at because they have offer a pretty. But solid dividend and and it should be on the watch list for any anyone has been in solid have been grower. How robust is the dividend in what kind of thought track record they have bump in overtime. It's big having grown dividend pretty steadily over the past few years. Maybe. What I wanna talk about and they can step back really wanna. Talk about column they're competitive advantage in the wireless industry and off the arm like this and that's why. That's what give us confidence in their the fundamentals of the business which again supports it and. And looking at this company what kind of advantages do they have four you know over some of their competitors. Sure so a big part of that he's he's he's actually in the wireless market and the Canadian wireless market that's been one of them both tropical are the market in the world. Each of the 38 players you have beat he you have rockers and hello all happy to de mark in up port port percent every attractive marking compared to US carriers in this repair regretful. Rationalized because that beat the players against the the Rogers and Telus. They each have between eight and ten million. Wireless. Wipers and could think about it that together tactile sport that the piper and Canadian population though. Our president speaks would be the biggest fraud are up woods. We mobile had only about one nailing it's like if you think about it the Big Three carriers have. Tremendous guilt about it and I'll petition guilt because they serve. Such a big subscriber base those customers but to believe they're the key of Smartphone and they have a lot of the lineup in terms of Smartphones going out. And that's really what gives us confidence in in the world that that they operated. There are great yeah Ryder. I'm sorry is is there any risk in buying eight Canadian Telecom related to the exchange rate and the Canadian dollar has weakened. Compared to the US dollar significantly over the last couple years is that something that investors need to watch out for on this. Absolutely I think that's investors Sheikh deepen. To deny health or or exchange for his butt but I think army is think about it. And really that's really something that even professionals cannot. Predict it was ostracized you know directions an exchange with though. What they have that they what we think is that you look at a company look at a castle. And make sure that you're getting in an attractive price again right now. They're not done by a good because B at some point future. You mentioned as we are talking about BCE Rogers communications as well can you talk a little bit about them and where you feel they fit in at this point. Absolutely the writers was actually that the is that cable companies and and tennis that you think about it you have B yet the biggest phone company and routers that they get people coping actually spotted by. Had broader which is the innovator of theory while on Canadian Telecom. Do be that a company in the 1960s and I was able to convince the Canadian government to get them theory attractive spectrum. Lighten. You know in 1980. Soul. Amaro and his three they'll be the rudder and Alice. We think that router actually if that is strategically positions in both the wireless market because broader has. Very good spectrum which allows that this service mark it was the high quality network. And also it has cost efficient cable network which actually you bloggers who that is. Over the maybe taking a step back on the stick by it today in eastern Canada you reaping is that right greet the team. To help close and few cable companies and then rudder has been the biggest cable company and historically what has been happening is that cable companies already have this fiber optic cable connected homes that house so the pew things would turn their competition to maintain. Where whereas on companies. Are either relying on their. Historical. Own network which are on much more possibly to remain as to maintain. And also obviously he's he is going off piper and connecting fibre to the home but that's the much. That's the much coffee and sit and ever since the a connection. So that they're about we have to get out unfortunately but thank you very much for joining us talking about those two companies that they thanks for tuning in to the financial exchange today we did broadcasting live from the Wingate residences. In Needham Massachusetts.