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Full Show 4-5-17

Apr 5, 2017|

Full Show 4-5-17 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 shops are. Your exclusive look good 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 and cream day. And now the financial exchange with the Valerie Armstrong and chunks. I loved the first week of the month why dwell on Wednesday we get EVP jobs report which we got this morning. On Thursday we get the weekly job or. And then on Friday we get the Bureau of Labor Statistics jobs report which is the granddaddy of them all there is no more no report. It comes out of the Bureau of Labor Statistics are any federal agency that contains more information about our economy hi everybody. Kerry and chuck with you here. On a Wednesday. And I think with the start off the bad ADP report that was would set the market in motion by the way the Gallup 180 points. Yeah ADP report coming out with projected job gains in March 263000. Above the estimates between a 18090000. So. Coming out with a significant beat there we did see your revision down for the February number 298 to 45 so little bit of a downward revision there. Pretty much what you typically say the senator did that was in a row pretty good tour wrote that looked pretty good there. And the big thing will be if we get confirmation on Friday from the government report that it's also somewhere in this range. You've got a nice little thing going it's still a few little bit more wage growth can always say that the were but 4% are. Now we're getting towards that range on the on the short term the government job number were still I think it two point 9% year over year there was still little light. But we did see where were start to get personal income we got that report last week and were right in that 4% so work. We're getting there at this point things are in pretty decent shape couple things to watch you know we talked about autos yesterday but overall. Things are pretty good shape right now. Knew it's it's a good time to be a workers especially to be a worker with skills you're skilled labor your skill. Technology individual skilled medical professional you're not having much difficulty finding work now. IPhone eight launch may be pushed to October or November this is according to were rumor Tucker brought the story to me. I've got to think that there are pushing the launch. That means they're not risk. For one reason. Probably end and the expectation to block kind of circle back. This was if you go back to the latest iPhone that came out lasted two years ago the iPhone set no object. There's a lot of talk they were in use what's called called OLED. Organic light emitting di oats as their screen. Because they have benefits in terms of the thickness as well as the brightness energies yeah okay. The problem is OLED technology. It's a relatively new development in the restore some fabrication prop problems that they have. Trying to build these on award scale there are many companies that do it and particularly well. Apparently. Apple is dead set on it in I'm using this kind of technology in the iPhone eight. And so as a result. I guess they're having some problems with the fabrication which isn't entirely unexpected. And they're saying hey we might not be ready to go for September launch it might be October or November this personally I'd get this display and over this is their ten year anniversary this is supposed to be. The phoned and all phones and this is supposed to be their best product ever. It is and look if there's one company that'll figured out it's up because they have the supply GO furniture recent rallies and that's what Tim Cook does Tim Cook you're right ops guys make and he is. Him and Jeff Bezos are probably the two best ops guys out there right now in terms of getting things to market on time and been working the way they need to. So if anyone can figure this out. It's Tim Cook yeah. But it's it it it raises some questions hadn't and that want to I know they wanna be there on September. I it I think probably in a perfect world they'd love to be there this July because keep in mind the the ten year anniversary. I believe it's 77. Of 07 I think that's when they announced that I don't think they're hitting that at all but. Obviously they wanna get September they can't. Checkpoints lesson actually delayed an iPhone by the way I don't think every half hour now. I know it's not official inning but rumors are pointing towards the delay. I mean they've always been consistent launching in September right so there must be a major roll hall or all in anyways so. Yeah I mean I'm I'm going back just looking historically. And you never had a delayed launch pad. You know problems in terms of if you order might take four weeks to get rental but the phones available I'm going back through all the the news that I've seen I don't know if there's actually no I take it back there was one. I don't know it was. Sorry this kind of a dumb reason the white iPhone four without it because they had trouble making the white collar partner count that but if you wanna via the great when he refine. Bill O'Reilly you've been tough following the story though Tucker. Just a little bit and no reason some trouble with the suit obviously he bill Riley. Was accused of sexual harassment. And I think he'd pay heed thirteen million dollars to some women that he acknowledged sexually harass. And now the blowback on it has been tremendous more than twenty advertisers. Have pulled their advertising on the O'Reilly Factor which airs. We nights at 8 o'clock on fox. You know Fox News. And if you read did that background on the story at all. I did a little bit more reading last night because I hadn't done a ton up to this point. But it's not like these out accusations seem to be without merit and cases right it and he didn't write the check because he was innocent. One of the checks at that they were saying is for nine million just by itself. And what you've seen as you mentioned. A number of advertised we're not talking small ones we're talking BMW hall GlaxoSmithKline. Receive Allstate Mercedes-Benz. Hyundai. Constant Contact. Another company that is smaller indoor pet nutrition I don't know what that is but. You know you've got twenty companies pulling advertisements at this point and I have to imagine that that is going to continue to get worse as this week goes on. Just has no one wants to be the last person at the. The work took. The number that he had for 2015 that are have a sixteen numbers yet a 170. Million dollars of revenue. On he showed just on his one hour show in 25 oppressive. It's huge. And he makes twenty million dollars and he has the highest ratings even when Megyn Kelly was there. He out produced her in terms of rating he had more ratings than Megyn Kelly. You know that was a tape show by the way the O'Reilly Factor as early as well. Outlined its always answer we know what happens or bill currently does livestock well thought out famous YouTube video what is the best. A university in this all Altria to show that we we we can't quoted on the air okay. At any rates. Bill O'Reilly you know under the gun and it does lead to our poll question of the day. Will the bill rightly lose his job over his last minutes. Our text number 68680 that we would ask that you participate on our website which is financial exchange showed dot com. And that right now it's 5050. I can tell you if I had an employee. That did anywhere close to what bill Riley did to these women. That employee would be five. New duties here would be absolutely no conversation in and out alone bury the lake which he did if you read the court documents and Ohio. Did I don't know how deeply you delved into it yet it's it's not pretty it's disgusting. Was he was doing and I I can tell you. It the Murdoch's are the top spot in it and it's the Murdoch kid's gonna make this decision got the old man up and the Murdoch kids earn a tough spot because here you have this old in his sixties that is just. You know I'm sorry and he's paid. For for what he was doing and if he doesn't yet fired. I'd lose a lot of respect for the you have to be wonder the outcome would be different with the timing of making Kelly's departure in this suit. You know award of merit making calloused on the network. The down's easy Garrett a very bright right now it's probably hard you know they filled with Megyn Kelly. They don't have any problems replacing her Tucker Carlson's got better ratings and make an actor in you have to put up with this but you got talker and meg. This works by I understand that they they could bring in Trish Regan. There's there's always someone next to India no one is irreplaceable in the in that business is noted always find someone new there's always someone who's either up and coming or just another name for some world that can come in. And you know like I tend to agree with you I think you should be on sooner rather than later it's just it's you know and I'm not gonna repeat what he did on the radio but. If you are so inclined and if you're the father of the daughter. You'd be thinking yourself not only should this guy be fired then he should be prosecuted but. That's a question for another day in our poll question I'll remind you lose will build all rightly. Lose his job over his or Rasmussen not should be all right I I gotta say I'm not sure he will lose vision so much money at stake here. And I don't know. Do you think other advertisers will step in and take his place it take the place of Mercedes and state farm and you'll absolutely be advertisers who want to step in I don't know if they can bring the same manner revenue to the table. Yeah I mean the you know a lot of people are comparing this to Rush Limbaugh and and it doesn't compare if you read no notes on this case. What rush did was nothing like what bill bill Riley did anyway will bill Riley lose his job over his harassment suit. Financial exchange showed dot com is where he should go. Two two. Participate in our poll. Up next will be joined by Korean Boston from triple lie associates to talk about. The Federal Reserve. Jeff lacquer from Virginia. Resigned yesterday quite surprisingly. Dealing a blow to the Federal Reserve's credibility will talk to careen he knows these guys he works with on a daily basis we'll talk to cream Boston from triple like associates. Next from our insurer match dot com studios. Barry and chuck have the latest every day beginning at ten only here on the financial exchange radio network. Getting up before the sun rises definitely makes you a morning person. You identify problems and you get a head start on solving them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative effect on your portfolio let us help you make sense of the seized by requesting our free guide understanding. Mutual fund fees and expenses call 803934001. To get your copy today call 803934001. Or download it right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services suffer through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get on the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. -- nine match insure a match works with the leading carriers in the industry like your bella Plymouth Rock -- more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Call today 844 and 99 match or go online and ensure a match dot com hi everybody Barry Armstrong. Here from the financial exchange and I'm joined by Jake tool whose senior vice president at liter 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 been an extremely busy buried. There are a lot of people buying homes so that's kept the purchase market very very busy you know on top of that race are still an all time lows through a lot of folks who are refinancing their homes either get a better rate or pulled from the cash out because their properties appreciative. That's us and ask you how does somebody know whether they should call to refine its. Well you know. They're there's really 22 ways if they feel that the rate can be improved. Give history. And you know thirty year fixed rates are all time lows. If you have anything in in 4% range frankly give its rate in my view would be something. Or if you need to take some cash and of your property wondered for a college tuition for kids or 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 green looked raid on your first mortgage you know home equity line of credit which will leave your first loan as it is allow you access the pick people up makes an awful lot of sense and you've got fifteen year fixed rate mortgages five year adjustable rate words all types and hopefully we we have all types of that in addition to that were actually very active Jumbo lenders so. And properties have really appreciated in the markets in Massachusetts. There's been higher demand for Jumbo loans that we do a lot of that so last year Berry we are actually not the number two home purchase minor Massachusetts give for you congratulations. Folks let's take toll from leader bank they can be your mortgage bank call them toll free 8776917. B 900. You can check out all their rates on line at leader bank dot com or you don't talk to human being given McCall they have loan officers standing by right now. 8776917900. That's toll free. 8776917900. Security suffered through securities America ain't member finreg SIPC an advisory services arbiters securities America advisors think carry on from representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges live on FaceBook so make sure like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. And we are now joined by careened Boston from triple I associate general. A bit of bad talk with this and Karine thank you very much for joining us. A problem very courier taking a look at now where you know obviously we had this situation where. Fed Funds that Richmond fed president Jeffrey blacker. Resigned unexpectedly. Yesterday saying he violated confidentiality. Can you explain a little bit what he did. And why that was obviously not something that the Fed is trying to do want a regular basis. Well I that right it'd be good again but you know the bet certainly had it. Rule about. What they would consider you know nonpublic information. You know. That members whether governors indeed see you at the regional bank president make each all the time and conferences and you know all that is considered a public information and yet they also have private meeting than in those meetings you know they'll exchanged views and basically you know also. Discuss what has been that publicly there's a policy discussions that are when that confidential and they have. Very well written set of rules that that go through that and lacquered. Those ruled there was. The report by a consultant. Years ago that. Looked like it had some. Inside information basically and there was an investigation on stand. On the Urlacher was. You know basically did and yet culpa yesterday is you know he was and all of that. Corey would you expect there'd be any changes in terms of oversight or procedures at the Fed. Due to this situation or is it something where they know something went wrong and they were able to kind of get on it as quickly as possible. Yeah I think. I think at the latter I think that. You know. Number of years ago I don't remember off hand but they tightened that are the the rules of engagement if you will would be the private sector. Obviously that was. Violation of that the big conducted an investigation and you know sort of the recall the so lot. You know I you'd think they have while the plate and on the end. Patrol that everybody abides by those all the time that one doesn't bend record and then we just saw what that was so. I'm sure bill it'll be up for discussion and you know cheer you on May be asked about it next. Q&A. But. He I wouldn't expect. There to be actual real change as a result. So you don't expect that fed presidents are going to be speaking any less but rather just that this is kind of a one time operation. Right that they you know there. There's rules of engagement and you know I think you know. You look at the other end of the spectrum I think you know one or the other criticism book that is not transparent enough though. This is where. You know them speaking frequently he you know is. It partly a response. That criticism oh I don't think. You'd be less frequently but you know again it is abiding by these rules it really. Set out. Very good let's turnout to walk talk a little bit about policy. At the upcoming meetings we've got a meeting coming up on May third where nothing is expected to happen. So pretty quiet over the next month. But on June 14 that take you look out at fed fund futures got a 63%. Chance that we see a hike there will be the second one this year and also keeps them on a path for three hikes if they do hike again. In December is that your opinion that we're likely to see that three height rate. The three rate hikes achieve this year is the Fed has lagged their expectations. Over the last couple years. I think it likely I think you know we he's a they're the dramatic. It'd. By the the last few months you're right that you know actual fun increases that have been delivered has been less than what they. Guided over the last years but you know the year has certainly started out differently and I think. You know when you look through their speeches their explanation that you. You reasons why obviously you know financial market. Have been that there. A lot on that you'd better be. You know boost the economy even though the said that like twice in the last. Before Mon. You know equities are higher than from report that started reaping great credit credit tighter. That's one development overseas you know European economic data especially has been a lot better. And he data had been better. And then finally there's the note there's potential changes in terms. The fiscal and regulatory. And gave so I think those are all being that. At least given them more confident that our actually increased their. Career we're gonna get minutes from the march meeting coming out today. And there's expectation that those minutes are gonna include discussion of what's called normalize in the Fed's balance sheet. Can you talk a little bit about what that is an and how that process actually works and what it'll mean for people. Sure well as we know the a lot about it and QB are numbered years. Even though they stopped buying. In the year ago. They went in nearly reinvested. The Croat beat the Mercury bond that they ought a year ago date the doors. Able to post wrote he'd been and reinvest. The balance sheets. Is not increasing or decreasing so. Normalizing it in other words were letting the ballot he gradually decrease. You know maybe double that where was the right but certainly no I'm not I'd it is today and that debate that you're talking about it that. Parity go about doing that it mortgages involved treasury. They just. That they let things run opt emerge or that it secret that these draw. Being that had yet to be decided. You know that Ali will be discussed Kris yeah. Print just about a minute left here and digging and a little bit more on that one of the mortgages that they had bought and and bonds they had bought. We're in the seven to ten year range when they started buying maybe 45 years ago so a lot of them in that you know one four year maturity at this point. It seems to me that by letting those kind of go through and not buying new ones. They're not really affecting the long end of the curve so it shouldn't have a huge impact on things like mortgage rates and so forth. Yeah I mean I think it a I think adding that the fair point and yet he won that Eric. Leo is more to do obviously. You know. Prepaid assumptions that are you know really reached by some and then. You know this is where it sort of you know and enter low then went there are other pilot beyond that on where you know rates go higher than you're less likely to be mortgages. Refinance and the other won't be you know many reinvestment did good obviously of great. Stay lower go lower than it would be different situations so yeah I think there are many many layers that are. Very good Korean thank you very much for joining us. No problem. There Korean Boston from triple I associates. We do have a quick break coming up but when we come back we're going to be doing trivia. And also talking about the deal to buy Panera Bread who's actually making the deal who's gonna be acquiring them. We're going to be talking about that when we come back from this break. You're listening to the financial exchange from our insurer match dot com studios. Making your Smartphone even smarter. Dell logo mobile lab by surging financial exchange show in nineteen Jordan who will play in store. This is the financial exchange radio. Network. Time for bank the pays you would liter maximum reward accounts of 1% cash back with debit purchases and an extra 10% back when you use your card and featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917900. Or visit leader bank dot com minimum to open and -- annual percentage yield ten dollars messer is mentally he's may reduce earnings rate subject to change without notice member FTSE. Leader bank a step ahead giving up before the sun rises definitely makes you a morning person. You identify problems and you get a headstart on solving them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative effect on in your portfolio let us help you make sense of the seized by requesting our free guide understanding. Mutual fund fees and expenses call 803934001. To get your copy today call 803934001. Or download it right now at financial exchange showed dot com. Securities offered to securities America incorporated member -- SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated many of us are always thinking about security retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England while technology improves and costs have come down solar incentives seem almost too good to be true if you talk to alternate energy clients they're thrilled with having no electric bill. Some are even driving their electric cars with free power from the sun imagine three solar power creating our own clean renewable energy while leaving a better world for children and grandchildren solar is an ideal retirement plan you take the state and federal tax credits now in your high income years and enjoy high returns for the next twenty to thirty years don't put off investigating solar. 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Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's pay 4499. Match many of our listeners don't know home and one or two cars at that describes you. You're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers lake you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry like Orvella Plymouth rock and more their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. If you missed any part of today's show not to worry good financial exchange showed dot com and click listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch of that listen mutton had financial exchange show dog come. Trivia is brought to you by the Armstrong advisory group there are a lot of a hidden fees and expenses associated with mutual funds so if you want to learn more about those hidden fees and how they may be impacting your portfolio. Call 80393. 4001. Their request a copy of your free guide for this month. The hidden cost of mutual funds 803934. Zeros or one. Yesterday we learned that staples the office superstore is exploring a sale to private equity bidders will be asking trivia question about staples. In which year did the first staples store open. Those of you live in the Boston area and are my age you'll remember this. Our text number is 68681. Listener with the correct answer winning prize pack that includes the teacher to pens and to travel coffee mugs. In which year. Did the first staples store open and again our text number is 68680. On Monday afternoon we got breaking news at least a rumor. To the effect. That Panera Bread was going to be acquired we thought there's speculation shocked that they would be acquired by Starbucks we work. Accurate but we were too far off because they were purchased by coffee cup. Yet a company that ends up Bob buying them as a company called JAB holdings. And if you don't know JB holdings probably not alone but you do know some of the companies that they own actually are KJ beat. Owns Caribou Coffee they don't Peet's Coffee & Tea. And they on a number of your agreement on businesses as well they owned. Einstein Noah Restaurant Group Einstein's bagels. They own they are green met your green mountain is human that was that's a huge. Your yeah I mean that there's a number of different companies so what goodbye Dell don't Krispy Kreme. Put him down not as good as Duncan down at Krispy Kreme is well why why would the why would they buy a yet understand the synergy so they can put you know their copy brains inside the owners or the point seems like the pain of the premium it does I mean you take a look at isn't and there was a stock that was trading somewhere in the 250 to sixty range before all of these rumors started. Today up at 312 a share. In the offers for 315 shares that you that you say. Do you really pain when it's all said and done you know 26%. Premium. To buy this company. It's a steep price to pay there. And part of me wonders so well run company he saw an interview this morning that the CEO and use an impressive guy it will what makes me a little bit nervous is whether or not. You season streamlining put into opener in terms of maybe equality has become quite as good maybe you don't see. Quite as much staffing happening there I just wonder what they're gonna do to try to make this up on the back end and hopefully make the acquisition makes sense for the so what was he traction in the I I my speculation is the young clientele. In the same store sales right now I would tell you that you've seen store strong sales growth is going to be very difficult to maintain I am I will go out on a limb here. I don't think they can't I don't think they can maintain 7% same store sales growth. For more than. About a very short period time because I think they got all of that from triple a pick up part of this in in terms of why the acquisition makes sense. I think they want the technology as well. You know and there is one of the first companies to employ the mobile ordering JD Collins once the technology I think cell and it's not a reason to pay the entire price but if you look at this you say hey. We can have the team that developed this for panera in all of a sudden roll this out to all of our other brands you know that's something that's kind of attractive as well when you talk about where things are going. Over the next five to seven years so I think technology. And logistics of that play and as well just because I think that's something. You know what will put their does there are too many other companies that do that well pretty much damage Starbucks who were the top of the chain there. And I think being able to have them in this portfolio. You know it's it's pretty attractive when it's all said and done it sure is feature. In the market the stock market is staying to us. That is no excuse me that this deal is going to happen yeah for the offer price from JB is 315 dollars a share. And Mary is trading at 311 mediate so this isn't like one of those health care deals where no it wasn't gonna happen. This deal will happen panera will become a privately held company which gives them another. Big competitive advantage by being privately held. Absolutely they don't forget Cushing and Dolan is making a guide available for the month of April. It's a guide to the different types of real estate ownership to you all real state. When you talk about this and you may be have a vacation property maybe you have a commercial property maybe you'll primary residence. May be better be healed some form rules that may be on land. Cushing and Dolan is put together a guide. That will teach you how to own the various types of rules state that exist if you that he had a copy of this guy that's the first time I've made it available. It's 8668485699. That is the phone number you would call. If you own rules state. And I don't really care whether it's primary residence or commercial property he fuel any kind of real estate I would encourage you to call told free. 8668485699. If you are looking to get the guide right now in other words you want immediately go to legal exchange showed dot com that is the web site. Go to that website and download the guide right now if you wanna call and have mailed the call toll free 8668485699. Well we also reported. This yesterday I was yesterday about staples. And again we didn't know. Who would be buying them we just knew that they've put themselves up for sale now we still don't know who would be buying them but it is rumored to be a private equity firm for a couple private equity. Yet talk with a few different private equity firms about taking the company off the public markets which I think would be the best thing for the staples as the company. That as we know their retail business is losing money they're commercial business where they sell direct to. Companies is actually pretty profitable and still growing at this point so I think that from my perspective if I'm a shareholder. Of staples. I sit here and say OK looks like get a little bit of a premium on my shares today. The company's taken pride that we can do all the pudding and all that all the nasty stuff behind the scenes and then potentially re released as a public company. 35 years from now how does this work the only key fueled fears right and whether it's panera or staples. Would if you don't wanna sell your shares. But if you just say when if you're one of the guys that votes no I don't wanna sell. Oops too bad near your analogue right now either the cash would you show up in your count rate if you have a it would fueled this shares in individual stock certificate form. Agassi right now you check yet something that I see so rarely these days that they'd probably milieu checked but honestly I couldn't even tell. But they don't know what the mechanics would be there well the Panera Bread deal should happen by the end of the year so you see that money show up in your count. The staples on not so sure no disease they're just starting to negotiate now I do feel that it would be a a quick deal to get done this is there aren't that many moving parts there. You know it's it's a relish no anti trust if you know it's it's it's not like you remember when the Dell EMC deal how long that took to get yeah you definitely a year and a half or write your process. I can't see it being that complicated just because there aren't that many different pieces. But anything like this they probably talking six to nine months of it takes another month or so to get a deal done. Late this year early next year I think you know January or February next year's probably recent with the. The NFL and Amazon reaching a one year streaming deals to fifty million dollar deal Tucker. Why would Amazon pay me fifty million dollar for this because the games are still going to be on television and others are still in the retirement Thursday night games right so. Like help me understand why Amazon rating is big check the carpet firm wrong chuck but I think the Thursday night games are only on CBS for each of the games out of the year and then the rest of streamed elsewhere. I. They every game they say it's on CBS is it every game will be on some toll might be yeah it may be. You know football network Coca but they're gonna be on network television and on Amazon in race for the life of me. I'm trying to think OK I mean Amazon already checked for fifteen million bucks why we will what is mine my that you I think it is a genius deal for you know I mean you know this affects me. Because I don't have an off cable world I had Amazon. Okay so maybe it gets that's for court cut. There's so he hear that two big things first of all when Twitter did this last year when Twitter paid ten million dollars for the same package OK and that the pay ten million for display one to ten games last year. Oh yeah they attend games Yahoo! paid I think like eight million for two games or something like that. But Twitter page ten million for ten last year so Amazon first of all of paying five times Twitter page last. Deeper pockets I think is a big reason but I also see this as a way for Amazon to get more people in their prime ecosystem because the big being. Is what Amazon finds is that once you go into prime first of all you never leave him and he also by three to five times as much as you did previously. So I think this is a big way to try to get more people. In that prime ecosystem and also. Looking at it from the perspective of what people who have prime. Don't watch a ton of video that don't watch any dams on shows they don't want to Amazon's movies. I didn't for the longest time because it's just nailed what what's the point but all of a sudden. Once he realized there you start going back to that well him as well so a lot of good documentaries on Amazon I look at it I think this is a very strong move for Amazon to try to solidify itself as a content producer. And I think that you're going to see. That's a rumor that they're gonna set their own sports network. I don't know if I love that idea just because I think that it's. As ESPN is proving the economics of that can be difficult once bitten once people start you know moving around and potentially leaving your network. I guess if if you look at Amazon from the perspective of the should be stickier than an ESPN because they provide more. Maybe it works for them. But I don't get a highlight show and just like sports news that's what I liked about the espionage used to be sports and you know yet he'll sports and it was great. Now it's Sox and I can never watch toppled yet but it's Amazon continues to make a push into here. And I think I would not be surprised we talked about FaceBook grabbing some moms and soccer games as you'd try to get into this areas well. I wouldn't be surprised if FaceBook Amazon. Netflix and apple are kind of your big four networks going forward the peace I think they're going to be the ones buying up all the rights that they can't. It's remarkable to me the way the landscape is changing the Tucker you raise a good point you know your court cutter. And this allows you access I was excited to to the game right. Exactly and now that that would that's why they're paying big money. Up next we'll have the answer to our trivia question along with an interview with Ed Merck Edward excuse me Edward movie. From morning started talk about a stock that is next from our insurer match dot com studios. So first attempt at Health Care Reform has failed Jimmy passed tax reform before the end of the year. Keep it here with the battery and chuck for the latest on the president's agenda and how the markets are reacting this is the financial exchange radio network. You may not have heard about yet but there's a new product that is making huge waves in the dental industry. It's called Libya on accidental gel and if you haven't tried it on here to tell you that you should. Libya onyx is a breakthrough product it breaks down plaque on your teeth and it prevents new plaque from sticking I brush with Libya onyx twice today and every time it feels as though I've just left the dentist's chair Libya on excuses effective safe ingredients not harsh detergents and the results are clear a recent study they UC Irvine showed that Libya on X reduced plaque two and a half times better than a leading toothpaste don't just take care of your teeth protect your oral health call 347242. 5990. And order live beyond accidental jail today we used my name Barry. You'll get a 10% discount off your first purchase that's. 3472425990. Or order online at best dental gel dot com. Are you thinking about transferring your home to your children in order to protected from the nursing home did you know that if you do you put a big risk for your children's creditors including future divorces you really wanna write a check your former son or daughter in law just a buyback your own home not only mystery entering the home put your property at risk they can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state Texas there are better ways to own your realistic that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary Texas Todd -- him in the law firm of Cushing and dole and put together a brand new guide to real estate ownership this free guide we'll show you the best way to own different types of real estate. Call now for your free copy at 8668485699. Or download your guide immediately by visiting legal exchange showed dot com don't put your home at risk 8668485699. Or log on to legal exchange showed dot com. Ari Armstrong here and I'm joined today by estate planning attorney Todd lot ski from the law firm up Cushing and Dolan were talking about how old rules state. Specifically Todd what I wanted to ask you about it what's the best way. To old rental property act clients that have bought rental properties the last 3040 years and it accumulated a lot of it. In the old and it invariably failed summit jointly some male LC. It's like a hodgepodge. Of ownership quite often. Sometimes they're clearly when it jointly with children which could even be worse than than any of the ones human you know please don't do that but. I think what's real estate with rental a realistic bury that the really the best thing to think about is your creditor protection. And that is to not only in your name. But only in limited liability company can consistent LLC people heard about them. You take your property is road and you take back share from you know if it's just pure that you and your wife. And then you put your shares. Into your trust either you revoke a bull or your irrevocable trust depending on your objectives. The reason being is when that person slips and falls or get her drunk person leaves and hurt somebody. They're gonna sue the owner of that property. In the owner better not be you because and all your assets are exposed sites but if it's owned by the LLC. They're gonna sue the LLC and not the shareholder you know you. And they can only get. The building that's in that LLC. Where a better form of ownership for rental property tell you what if you own rental property I would strongly suggest that you call Cushing in dole and receive their guide how to only real state 866. 848. 5699. At 866. 8485699. He wanted to download the guide go to legal exchange showed dot com it's called how to own real estate pretty basic. But it's more complex than you might think. Call now 8668485699. Today on the markets all day long. And our brand new website financial exchange showed dot com click the on demand includes I didn't follow the markets from pillar to post poll had financial exchange showed does come. The first staples store opened on May first 1986. In Brighton Massachusetts and yes it's still there. Brian from Alston had the correct answer here and Brian takes on the financial exchange prize pack including two coffee mugs to T shirt. And two pens and trivia today is brought to you by the Armstrong advisory group. There are a lot of hidden fees and expenses associated with mutual funds so if you want to learn more about them and how they may be impacting your portfolio. Call 800. 393. 4001. To request your free copy. Of this month's guide the hidden costs of mutual fund that's 800. 3934001. Edward wheat for morning star joins us now here to talk about. Stock with us Edward thank you very much for joining us. And we're we're talking about Simon Property Group. I'm sure some of our listeners are familiar with them but can you what give a quick summary of the business and what exactly it is they do. Yet shares those Simon Property Group is a regional mall REIT. It owns about 200. Class a regional malls and outlet centers throughout the US. With you know we've heard a lot of chatter about how malls are struggling to find tenants and struggling to get foot traffic so the next question is. Are you bearish or bullish on Simon right now. I also right now I am bullish and signed a that is because some. If you step back and look at the formal industry there about 11112100. Regional malls so US and about fortified. 500 of these are considered I'm higher quality class a class B plus a cities which means that these are the properties located in attractive markets with attractive. Target consumers. Landlords who have been able to be investment properties and create compelling. Retail environments that have contracted and demand that have held the occupancy levels and rent growth over the years and that's where. Simon players I think he negative. We tailored news that has been happening over the past quarter. As unfairly punished Simon and its other classic alters. Hello how they are done in terms of Bob profitability of their properties and maintaining margins and that's one concern when you look at a company like this are they able to still get the kinds of rent increases that they want. Writes I think just given where it. Overall cyclones are now. I growth has decelerated from the coverage from financial crisis but if you look at the underlying performance of I'm its portfolio. Occupancy levels of its relatively steady at. The mid ninety's level to be a regional malls. On the and then if you look at the unlike and it's as measured by. Sales per square foot. That metric these two. Stayed pretty steady at about 600 dollars square foot which is roughly 20% above the industry average and so overall. Health standpoint. I think that Simon Property Group. Quite a bit I'll probably like to go for I only real state. This I'm still adding properties on a regular basis. Unsold new supply super regional malls has basically crown to halt. Since the financial crisis but I'm hoping that is important for us just look at it is also it's of camp's outlook center portfolio which still. Provides electric. Trickled first Simon and Simon still in the process until developing these centers in addition to developing centers. Across he world in Europe and Asia. Looking at a company like Simon and any competitors. In that space that are potentially a concern for them going forward are they pretty much the 800 pound gorilla in the room. Also there are three other currencies all reits. That include GGP. Mister rich and taught them. They compete on the outcome of local market level but I guess the overall. Concern has been the growth of online retail and I think that. You know we expect on penalties to crowned the foreseeable future but we expect. In an apartment where both physical retail and on line veto can coexist because retailers. Are still going to need. Physical stores to execute the strategy is and there are going to be consolidating their operations into the higher quality profitable productive environments that Simon and an experience. There's that Simon also has about a 4% dividend right now it seems to have a track record. Of bumping up pretty consistently is that has to be something that's relatively attractive to investors well. Right. Such as the stock has come down. Percent since in the year that didn't yield as just increased actually probably also think that the implies growth prospects for the company in addition to the significant cash load do you do it a relatively low or religion or just balance sheet. That provide that margin of safety that investors should. All right very good Edward thank you very much for joining us thank you. That is Edward and we've from Morningstar the company that we are talking about with Simon Property Group in the ticker on it. Is SPG. You know we started off the show with a poll question will bill rightly lose his job over his sexual harassment lawsuit. 41% of you say yes. Bill is gonna lose his job and 59% of you are saying no you will keep his job I mean the kid I do not think he will lose his job. But I think he absolutely should be fired if you read the court documents and before you text that some calls liberal idiots. Read the court documents. And related to this case and read what bill Riley admitted to. Read read what he admitted to an acknowledged and then tell if you they keep should be losing his job and especially those of you who might be. Fathers of daughters anyway. Thanks for tuning in to this hour of the financial exchange for broadcasting from our insurer match dot com studious on a day. Were holy cow the market is rallying. Dow is up. 171. Points 20861. Giving up before the sun rises definitely makes you a morning person. You identify problems and you get a headstart on solving them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative effect on in your portfolio let us help you make sense of these seized by requesting our free guide understanding. Mutual fund fees and expenses call 803934001. To get your copy today call 803934001. Or download it right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services suffer through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. 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 music faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the SE equal housing lender and Miller's number 449250. Subjective credit approval leader bank a step ahead. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer match agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's pay 4499. 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They do and I think a lot of times in the past it's simply been because the disclosure was required of funds until recently funds weren't necessarily required to disclose everything that investors were paying too as a result that in understand exactly what they were paying how frequently they were paying it and the problem is that when you're paying additional fees over a long period of time even an additional half a percent can add up to a significant amount of money when you look at it over twenty or thirty year period in UC the expense ratio that's listed oftentimes on your brokerage statement saying while the expense ratios one point 2% or point 7% but that is not necessarily everything you're paying -- no it's not there are a number of other hidden fees that are included in mutual funds and in fact those fees in a lot of cases might actually end up equaling or being greater than that expense ratio of those fees could be things such as trading expenses. Mark up for internal selling there's a whole different fees that are associated there. And the problem is most people just don't know those fees they're most companies are required to disclose all. Do you know what you're paying in total mutual fund thieves the hidden cost of mutual funds is our free guide for the month of April it's you or by calling 803934001803934. Zeros or one if you want to guide. Right now go to financial exchange showed dot com and can download from the web site. Or if you wanna call and have a conversation with one of our associates call 803934001. Securities offered to securities America incorporated member finreg SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce in 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 of leader baker Colin learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back a step ahead. Are you thinking about transferring your home to your children in order to protected from the nursing home did you know that if you do you put a big risk for your children's creditors including future divorces you really wanna write a check your former son or daughter in law just buyback your own home not only does transferring them home put your property at risk they can also create a huge capital gains tax and they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state taxes there are better ways to own your realistic that can protected from the nursing home you've been away from your children's creditors avoid probate and not cause unnecessary Texas Todd -- him and the law firm of Cushing and dole and put together a brand new guide to real estate ownership this free guide we'll show you the best way to own different types of real estate. Call now for your free copy at 8668485699. Or download your guide immediately by visiting legal exchange showed dot com don't put your home at risk 8668485699. Or log on to legal exchange showed dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visibly your bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. You may not have heard about it yet but there's a new product that is making huge waves in the dental industry. It's called Libya on accidental gel and if you haven't tried it on here to tell you that you should. Levy onyx is a breakthrough product. It breaks down plaque on your teeth and it prevents new plaque from sticking I brush with Libya onyx twice today and every time it feels as though I've just left the dentist's chair Libby onyx uses effective safe ingredients not harsh detergents and the results are clear a recent study a UC Irvine showed that Libya onyx reduced plaque two and a half times better than a leading toothpaste don't just take care of your -- protect your oral health call 347242. 5990. And order live beyond X dental jail today when you use my name very. You'll get a 10% discount off your first purchase that's. 3472425990. Or order online at best dental jailed dot com. This is the financial exchange with the very Armstrong and showed sound. You're exclusive look at business and financial news affecting your game your city. Stay informed and up today about an economic and market trends plus get breaking business news and crew. And now the initial exchange with the very Armstrong and she so. Never look good gift horse in the mouth that's always been my model. And you know what the Dow is up 453. Points I guess we should look at this is again I think this is a direct relationship. To the ADP jobs report that came out at 8:15 eastern time I everybody's stereotyped with you here on Wednesday and apparently it I mean I look at it and I think we're gonna have a good earnings season but I think this is related jobs. I'd have to I think you know you take a look at the sectors that are rallying heaviest day energy materials industrial. Pretty much tell me hey things are moving into a wrist on territory you're lagging sectors today. Telecom utilities still up but not by as much pretty much tells you all that money is moving towards risk on the one thing that is interesting. Ten year treasuries not move middle ten point 36% at Nutten ten point three and you would think 2.3 six and in your expectation that that would be that that would rise in the rate you would think that you'd see a little bit of a sell off in treasuries as money moved out there so the fact that staying relatively consistent. You know gives you a little bit of pause their gold not really moving either down a little bit oil today. Up we're back at 5129. Well after being down at 47 last week. A little bit curious given the excess inventories. You get you saw was an extra one point six million barrel rise in US stockpiles. And what is interesting they must think a lot of productions coming off line what. Here's what's interesting is he actually take a look. At what is happening in terms of production right now. Okay in production right now in Adam's gonna look at US based oil production domestic production for this week. Is actually up about 1% from the same time last year and it's actually if you go to. The week before production lines of production continues to be pretty consistent right now. But inventories. Continuing to move up we now have one point 226 billion barrels. Of crude oil that are out there. Do you burn through that pretty quick if there's a disruption in supply and I'll tell you eat we learned yesterday. In the energy sector their 420000. Fewer workers and what I ate this way I interpret that Turkey's. We are not looking for new oil we'd we'd we have very little expiration going on you've taken trillion dollars and four and 20000 people out of that business. If you have a disruption say dude military conflict in the Middle East or. Is somebody blows up the oil fields in rushers you know you have a Black Swan event. You could see oil prices rise quickly. And not have a a place to recover because all those workers are not just look at what's happening in the housing industry here now you can't build houses positional workers. Yeah what what's interesting is that you are still seeing an uptick. In rig count right now. Rig count for though the prior week up an additional fifteen and they just North America the north yeah North American you continuing to see an uptick. In rig count right now. Canada in particular. Continuing to see a big uptick Kennedy were death. You're down to fifty rigs a year ago today it's 155. They have to pump because there's so much of their oil moves through pipelines you eat you you lose money and you'll still pop up. Because you have to keep that oil moving through the pipeline the second you stop move in the oil it they they begin to corrode. Yes and it in the US keep in mind so we've risen back up to around 850 rigs that are operating right now. At our peak kind of looking at that 2012 to 2015. Range and okay and our peak we're doing about 16100 rigs we've gotten down to about 400. Sore back up to eights are still about half as many as you saw at the peak. I don't that you get back up there but if you do get back up to a 1012100. Competitive pretty. Shape I can't remember or can't think of the jobs that would be much worse than being east school bus driver I think will be on all. Those kids they. I don't wanna drive the big trough the school must you know how little they get paid that much at this this what I wanna do my retirement job. Good retirement of the school after a twelve bucks an hour they have to work what's called split shift so. If they go in and they might work from 6 in the morning till 9 in the morning. Then they have all day off and then they start working again around 2 o'clock in the afternoon you in my workplace as six. Okay and in between I can go get around dolphin or something like Beckham played nine holes like go out you know fine you know do something else we you're one of the few people I know like the idea because there's a massive. Shortage Z. They across the country this story that were referring to was based out of North Carolina but across the country. It's a problem people do not want to drive school buses and I think it's. Deity I get a kick out of this is so at the school after assured now. Your cheat in you don't pay your workers and they see you're not gonna get some did you do that job thing about the liability. If fifty kids on a bus you're responsible for the and the other thing think about nor did do this I believe you probably have to have a CD out there. And it twelve bucks an hour if if you've got a CD on someone's awfully twelve bucks an hour recent. No split shift the thing is they know I can go work for someone else can maybe twice. Now we had business owner on he had the waste container business he did yeah. It paid his guys to only twenty to 25 via. So yeah it in and clearly. You know it's. It's tough because obviously test comes out of you know comes out of Bob municipal budgets which we know we're stretched at this point but he got to pay more than 1213 votes now. Few years ago you had some well collected it well connected. Politicians buying marijuana grow facilities Cesar retired. You know congressmen. You know politicians and they bought the growth facilities. For medical marijuana because they were under the opinion in the rightly so. That recreational marijuana would be following and they paid a lot of money your culture they were paying half a million bucks for a license. Wasn't cheapen. What's interesting is what you're seeing now is a lot of people who bought these licenses rather on a bit of trouble trying to get. Actual places to do business in the reason for this. Is because a lot of cities are concerned that because of the way the laws in Massachusetts are structured. Anyone who has applied for and has a license and is open to medical. Dispenser that is opened. Prior to December 15 point sixteen to pretty much automatically so recreational we'd down the road and so the concern. Is that look. A city that may have wanted to have a medical facility and it is all of a sudden get to end up with a recreational one. That they didn't necessarily want in so a lot of cities and towns are pretty much said. And we we've won that we just don't know if we want that. While my town voted on this a week ago and we voted it down we said no thanks we we we do not want. A medical or recreational marijuana facility in our town this big thing I will tell you it in this just my opinion but. You can voted down. And as as talking news at our event last against talking to some fellow residents of our town said they voted it down but the you know they're gonna approve it in Framingham. And so. If so what the kids are gonna drivers people who wanna buy marijuana and drive to the next town so you lose all that tax revenue you lose the jobs. And people are gonna grow drive two miles more and in the by the next out. That it exactly it's it's just going to be. At the end of the day. You're giving up all the potential revenue they're still getting old saint prompt the NCAA says that North Carolina ten in fact. Post championship events chalk it chimed in last week's speculating that. The would North Carolina did in terms of their bathroom wall may not have been enough. Turns that it was. Yeah and turns out that the NCAA is not on board with hosting events in the North Carolina going forward saying the majority of their board reluctantly voted to allow the consideration of bids. And what you're gonna see is starting next year. Opening rounds the NCAA tournament will be back in Charlotte and they will be awarding other events to the state as they go forward. And the Internal Revenue Service is going to start using private debt collectors again this was done in 2015. It was approved. But we've all been standard these people have tried to scam us. Saying they're calling from the Internal Revenue Service will now you're gonna get private sector calls. Trying to collect past due taxes. Not only private but you don't actually you could care less if they collect more money. I'm happy it makes it harder for people to tell what's legitimate and what is and that that's my concern is that someone who. The says oh wait they're using this now maybe it's not a scam Newton I just get concerned about that as wells the tactics of the private companies tend to be. Less than human well if you owe the money pay the bill right. I do agree with that and the you know I think that you know you might say I don't like the IRS the fact the matter is. If people are cheating on the taxes are not paying their past due taxes. That hurts all of us because those of us the 99% of us who are honest. And pay our taxes we get hurt by those few people. They don't pay their taxes and ends up costing us higher rates at 1% that's that's why I could careless as to how I just want them to collect it. It when we come back and be joined by wolf richter from Wolfe thestreet.com. We're going to be talking about the Miami Condo market. After this winter are you thinking about buying a place in Florida you might wanna consider the Miami market apparently is overbuilt. Shock and wolf we'll talk about condos in Miami during our next segment from our insurer match dot com studios. The battle over the trump agenda continues to affect the markets and get the latest info on the sectors that are benefiting and those that aren't right here we've Berrian jock on the financial exchange radio network. Getting up before the sun rises it definitely makes you a morning person. You identify problems need get a headstart on solving them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative effect on in your portfolio let us help you make sense of the seized by requesting our free guide understanding. Mutual fund fees and expenses call 803934001. To get your copy today call 803934001. Or download it right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. You may not have heard about it yet but there's a new product that is making huge waves in the dental industry. It's called Libya on accidental gel and if you haven't tried it on here to tell you that you should. Lydia onyx is a breakthrough product. It breaks down plaque on your teeth and it prevents new plaque from sticking I brush with Libya onyx twice today and every time it feels as though I've just left the dentist's chair Libya on excuses effective safe ingredients not harsh detergents and the results are clear a recent study they UC Irvine showed that Libya onyx reduced plaque two and a half times better than a leading toothpaste don't just take care of your -- protect your oral health call 347242. 5990. And order live beyond accidental jail today we used my name Barry. You'll get a 10% discount off your first purchase that's. 3472425990. Or order online at best dental gel dot com. Many of you listening today are either retired or planning for retirement investing in the market can be as safe strategy to develop growing assets and income to help keep ahead of inflation but here's another investment you can make it may also help you achieve your retirement goals if you invest in solar energy you may see double digit returns and growth call alternate energy today for a free solar analysis for your home or business at 347308599. Entry. A well cited solar system churns out monthly dividends and reduced electric the best part is that these solar dividends aren't taxable solar increases the value of your property and buyers find the properties would lower expenses are more valuable if you like the cash dividend concept of solar call the experts with more than four decades of experience call alternate energy 347308599. Tree and discover how solar dividends work that's 3473085993. Or visit them all mine that 800 DC solar dot com that's 800 DC solar dot com. Getting up before the sun rises definitely makes you a morning person. You identify problems and you get a headstart on solving them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative effect on your portfolio let us help you make sense of the seized by requesting our free guide understanding. Mutual fund fees and expenses call 803934001. To get your copy today call 803934001. Or download it right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Barry Armstrong. Showed saga breaking business news every day right here on the financial exchange radio network. This segment of the financial exchanges brought to you by leader bank it's not too late to get a great rate on a whole mortgage. Peter bank has some of the most competitive rates around call 8776917. B 900 or visit leader bank dot com for more information. Time to buy a Condo in Miami check. Well we will see we are now joined by wolf richter from Wall Street dot com and wolf thank you very much for joining us today. But it for having me. Wolf the the articles titled Miami's Condo market is in bad shape can you give our listeners a summary. Of what's gone on over the last five to seven years and where we are today. We have and other. Condo glut in mind that now coming up by the and equipment is what went through this before and we're on it again now. Console failed. In Miami hat on when you buy them on the Putin. It into doubt we'll see that the February February. Condos the ointment and now he used was built in February. And that apply to you on the market towards a new album. Now. Fourteen month high. On the market there at Oakmont even include you add a comment on the market on the construct them early and as we unit that it then they'll complete a long time ago. And and now we all have that that on a lot of you on the market that not part of the numbers are sold directly by the developed of people. But I don't. Is that a lot of them I'll leave them. Are we happy the it is equivalent chart with I did it look like that. Was. That well headed down and apply heading up and that the terrible. And normally when you look at a chart like there's upon him and lack you know that that but we'll have yet and the funny thing is that. Like it on the low the but the nation actually went up yield on the central content. Though that it that a little bit and others would be opt out I would lie in the situation awards demand and supply a completely out of black. And what we found that they actually they're cracking reported by even medium like it but they only had one billion a year ago by. Old almost won't let you in his they'll double on the closure by that was old and that it is a deep breath. I liked it back then and now if you've done it in. And both days comparable numbers that on the quiet salute by. Impressed by the united talent or maybe 30000 dollar pot or ball popped. And there yet that comment that people normally would want to buy and let it. And and look at it let them probably not the bulk of that though in the that they're all that at the let. But pay back saying that made it back. That is what people were in the number and they'll check for major development. All of it's a condom pocket. That between them out on the condos. And then that on the court of mine that credit at all as Byron electrical tree of wallop in the in the water run evidently not on lawman and one of them they'll eat out or the other we didn't see eight that it that it failed history on them and what we found that in doubt or building. But I haven't thought about on those who are or eat and depending on the building a lot between and then it includes. There that the reality the reality is that he is a column that I'm not there while my mind no problem with them and well. There responded that. Apply in Maynard. Problem go away happy in my life is actually heading down. With the unit and I have had done it at the on demand problem and that is happening even though. Look at that it is. They'll that got them going up. Yeah because that the technical work and under the beginning of America on the correct in Miami. Wolf what's interesting you mention this I'm looking through the the list of the buildings that are under construction right now was well. And we've got one play one unit with 821. Apartments and other with 549. Condos and other with 444. Another with 438. In other words 391. Another with 647. You got like three to 4000 other units that are still in construction scheduled to open in the next eighteen months this isn't going to get better any time soon. Yet at the correct this is going to hear about what I liked it and it's the beginning on the not only do we have there urging that why complete value of these investors and others that are being. Quite double irony that I think it out of it you've got it in that bout with that unit coming on the market that are being completed now. The interesting thing about the that the other. Develop a lot now that weekly like you'd before that completed investors. And they can buy you didn't really say that inspection I put down a mom and pop it. And you've made more than opposite. That building regret it and then you by the LD. It is complete it is being completed. And the big it is in line and that line that specialize in that. And and though that a lot of these third and a lot on the child in the reconstruction Condo market and there are not many. And they can't make. The pilot with a unit I think that today. Among them. The bidding of the financial bubble some of the development and alma unit that sitting on the net and living on the that's I'm new finance them. Though on that on that and that the market. There are some real severe problem and that is probably won't be the person all isn't it Matt and Adam. So wolf is effectively the thought if I'm in the market for a Condo in Miami. Wait a year or two because that you might continue see prices plummeting. But certainly what it looked like. I think that by people click chart it is what the the argument situation get ironed out lack we've seen how that or you know on and like you in on and Condit available unlike. Outed in a coma and on that 70% price and in no time and and then not. All I bet that if you had to read it yet that the agency it back to walk on the bank papal. So you don't let them back on a it is older than them and crop it and by that are not loaded and unloaded on a log in large numbers. Yeah I I would I will probably bury it and buy anything goes and. You're well wolf it's great work that you did here and we certainly appreciate you joining us thank you very much for the time today. Well thank you. Wolf richter from Wall Street dot com that article is right up there and I'll tell you it's fascinating and terrifying at the same time because. You look at it right now and again there's 151000 Condo units on the market. In Miami right now as I said there's another three to 4000 coming on just from new construction. In the next year or so and only about 980. Sales. Happening on a monthly basis right now so. You've got to fourteen to sixteen month inventory today potentially expanding out two years of inventory in the next year so. Appear in the northeast we have an inventory tuna it's just put in perspective of etiquette take home from down there at Sonoma here you know. Miami is very international city knew you look at my guess it's like. Similar to say Los Angeles world and the war. You know probably one of the civil war in national city's wonder how much of that market will be impacted. Immigrants not wanted to box. In in Miami or fours there's a lot of money and the money was south American. They would want something on the continent the other thing I find interesting when you look at the chart a lot of this dia. Happened since the dollar's strength in the couple years and I wonder how much it is because people just can't afford with the dollar strengthening 25%. They can't afford is much pleased he birdied Miami's very uncommon here English be spoken. You walk around restaurants here a lot of your Italy and a lot of Europeans Europeans are probably not rushing over with the Euro trading now won six. In that rains they were literally for six here in droves when in the Euro is about fifty. They're coming over and buying condos and they are buying in the 2010 in the market cratered. We'll be back and when we come back we'll talk about apple pay you to use it that's our next topic from aren't sure match that comes to. You've got a barrier and stronger financial exchange. Shall look financial exchange radio network. 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Are you thinking about transferring your home to your children in order to protected from the nursing home did you know that if you do you put a big risk for your children's creditors including future divorces you really wanna write a check your former son or daughter in law just a buyback your own home not only industry entering the home put your property at risk they can also create a huge capital gains tax and they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state Texas there are better ways to own your realistic that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes Todd lets him in the law firm of Cushing and dole and put together a brand new guide to real estate ownership. This free guide we'll show you the best way to own different types of real estate. Call now for your free copy an 8668485699. Or download your guide immediately by visiting legal exchange showed dot com don't put your home at risk 8668485699. Or log on to legal exchange showed dot com. Giving up before the sun rises definitely makes you a morning person. You identify problems and you get a head start on solving them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative effect on your portfolio let us help you make sense of PCs by requesting our free guide understanding. Mutual fund fees and expenses call 803934001. To get your copy today call 803934001. Or download it right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Armstrong. So. Bringing you the best in business and financial news every day this is the financial exchange radio network. Trivia is brought by beyond strong advisory group there are lots of hidden fees and expenses associated with mutual funds. If you want to learn more about them and how they may be impacting your portfolio call 800. 39340012. Request. Your free copy of this month guide that hidden costs of mutual funds 800. 3934001. We're doing tribute today based on the company staples he would put themselves up for sale. Who is the current president and CEO. Of staples are text number is 68680. The first listener with the correct answer to that question will win a prize packet includes. Then to travel coffee mugs to bed and teacher. Who is the current president and CEO of staples and again our text number is 68680. We have breaking news out of Washington DC Bloomberg is reporting that Steve Bannon has left the National Security Council. Yeah I don't know while if someone is going to laugh fill that spot as he was effectively not a permanent member to begin with it was a spot that was created for the for him. Back in January. But Steve Bennett apparently off the National Security Council at this point. I would have to imagine. That it probably had to do with some odd. I would imagine probably something that we do. With one of the other members on that council probably thinking he was not a good fit for it then my guess is HR McMaster the national security advisor probably. Taking control put the kibosh on that's what that's what I would guess you know in McMaster someone who was very very highly thought of in the in the military. In a year I'd agree ever use apple paying. I have once in awhile but not. As often as I should be. I'd vote and I don't want my phone net putting in I don't know two or three credit cards you have him in our leaders to take a picture here of your credit card me dead seizing up yet it's here iPhone Walt rate and I did it. And I. Trying to remember if I've ever use I don't think I ever if I have used one time very inconsistent as whether it's available. Yet not. Not even use the user but for where if they retailer will accept yet not available all retailers nom I will tell you I use it pretty frequently hum because violate the security features that it's actually safer. Tucker in using a chip enabled credit card. Interest on a lot safer. And. What it what it does effectively requires both your fingerprint at the point of sale as well as it generates a specific code for that exact transaction that can't be reused so the big thing. Is. If you're doing anything on line one of the big problems right now it's online for. Because in person were mostly moving towards those shipped by our readers which they take a little bit longer but they do generate unique transaction. And so because of that. They created number that isn't able to be used for any future transactions were the problem is on the line when you go win and let's say that you're shopping at Amazon. Okay and you put in your credit card number that numbers the same one that's being used everywhere else. If you pay via apple pay you can do online I saw this yesterday actually. Where what was it that I used for I can't remember or something on the line where they actually gave me the option to use apple patent and I said. That's that's great so I use it in all of a sudden I I was I'm using an online what happens is. You could use apple pay you enter. It's already got your email address and there's so I guess what it does it pins Apple's servers and next thing I knew my phone lit up and said do you want to authorize this payment in. Taxing system see you now have to put your car got to Whitman no info into the website while which I law because as you know lion a privacy not you know you have no privacy to every conversation you haven't listened to every young man you rate is. Is listened to every being here I don't under I don't send emails to people like on a personal basis I don't send. I go through and if I get an email from someone first thing I'd do I called and I'm like why you email the only thing now is C the haven't figured out how to do thought police never do that world from. Pretty much there was FaceBook at this point. I think. Well get arrested but there's there's a lot of people who don't have a very good filter between brain and mouth and so for those people were pretty much there with FaceBook and Twitter. Apple pay attic only 13% of people viewed downloaded Tucker actually used. 13% while it's really low I use all the time have you idea is it that Amazon graphic artist and you know I on the supply effort yesterday. In his battles they have a special one for a prime members yeah it seventy dollars they give you right. Forgetting so pay your prime membership and yet 5% back on new purchases that basically covers sales approach get a by the end of the summer night. I got it. Last week and then they they do send to a physical card. So now comics of wonder if they for the month of April. We are giving away a guide as it relates to the hidden costs of mutual funds I don't know if you own mutual fund or not you might have won in your. 41 K plan or maybe go one of brokerage account or diary. If you do this is a must read because many consumers most consumers. Are unaware of some of the costs associated with investing in mutual funds why are they unaware. Is there hidden there are not fully disclosed even by prospectus they're not fully disclosed by the prospectus. If you would like to learn more about the hidden costs of mutual funds. Call my office 800. 3934001. Can also download this guy. On our website financial exchange showed dot com so if you want to guide right now. He got a financial exchange showed dot com. Or if you wanna have a conversation you can talk when my advisors the phone number is 803934001. The guy is. The caught the hidden costs. Of mutual funds again the phone number one last time 803934. Zeros or one. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Are you one of those guys that drive your car. All the lead and the when you bite me you need gas yes I've run out of gas points. Like you Kramer. I've run out of debt the first time was actually the most terrifying I was in a I was driving a black Subaru of the time. And it was in the middle of the snowstorm we are coming back from an indoor soccer game up at school was when I was cult yeah. And we ran out of gas and so we pulled the side of the road that got you know that the lakers on just to the people in Simi fair what was so cold actually that the battery died to all of us in the lakers got we've got no heater or anything. We're sitting there for about maybe hours so before Tripoli finally showed up. And dubbed little bitty gas in the worst part. We were no more than about. Two thirds of a mile from the next gas station. But we just couldn't quit I I knew we were close but we just couldn't quite get there I I don't run it down and T has bill Fletcher I don't look like the dummy that runs out of gas it's a I thought it was I got an Ivy League degree become there. Are you gonna dump me I eat beans and yet it does mean am I really don't let really don't see it's very bad for your car but that too. To run out you can see you can do a lot of damage to your car running it to a ghost and just a word of advice but but. The reason I bring this topic up as. Apparently empty doesn't really mean empty because when your Toyota Iraq have four it's empty piece of 31 miles the eagle on an empty now. What does it mean by hit empty because what you know is if you drive. Down to the bottom you can actually go below one. Believe it or not so does that mean when it hits M dear when it's blue lake I don't know when he hits the EU is way out assume this study is about okay. So among my car was on their two on record here we go into the 46 miles for Honda Accord. I can get 42 point 12 miles. On average with. With my car the Max that anyone's recorded a sixty miles the minimums thirteen. The two that a rap for not very good 31 point 88. Honda Accord as you mentioned on their Honda Civic on there camera gets about 43 miles curious what you have. When you take a look. In terms goal the longest ones I don't know that the web say Ford isn't very great website called tank on empty dot com with any of you wanna go take a look. They kinda court 46 miles. Yeah that's pretty good roll of 45 miles is pretty good Mazda Miata only 35 miles wouldn't buy one of those you know. The main thing I look at them buying cars seem whatever techsters is now saying that when the actual low fuel light comes on is when. From that point the mileage. From the study on what low fuel liking delay usually eighty to ninety miles right that's what I thought the idea yeah usually I get somewhere around there before I ran into problems that I've been all over again again I answered honestly I'm on the I'm afraid because I ran out went on that car full of kids going to hockey hall she is awful. Yet my my general rule of thumb is. If you can get it you know I've I've fourteen half gallon tank. And I try to get it so that I can fill up more than fourteen half gallons that means you do and write I hate this topic for guys lately should buy an electric car. At a Tuesday. My X I'm now a vector be joined by Paul tell. From Bloomberg and by the way if you wanna watch the show we're on FaceBook now. The evening go to FaceBook and go to financial exchange show on FaceBook and you can watch us do this next interview. With Paul pulse we're talking about the great Nevada lithium rush to fuel the new economy that's next from our insurer match dot com studio. Like us on FaceBook and follow us on Twitter. TST show breaking business news is always first right here 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 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the SE 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 team additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of PNC equal housing lender and Miller is number 449250. Subjective credit approval leader bank a step ahead. Many of you listening today are either retired or planning for retirement investing in the market can be a safe strategy to develop growing assets and income to help keep ahead of inflation but here's another investment you can make that may also help you achieve your retirement goals if you invest in solar energy you may see double digit returns and growth -- alternate energy today for a free solar analysis for your home or business at 3473085993. A well cited solar system churns out monthly dividends and reduced electric the best part is that these solar dividends aren't taxable solar increases the value of your property and buyers find the properties would lower expenses are more valuable if you like the cash dividend concept of solar called the experts with more than four decades of experience call alternate energy at 347308599. Tree then discover how solar dividends work that's 3473085993. Or visit them all line at 800 DC solar dot com that's 800 DC solar dot com. Getting up before the sun rises definitely makes you a morning person. You identify problems and you get a head start on solving them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative effect on your portfolio let us help you make sense of these fees by requesting our free guide understanding. Mutual fund fees and expenses call 803934001. To get your copy today call 803934001. Or download it right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. You may not have heard about it yet but there's a new product that is making huge waves in the dental industry. It's called Libya on accidental gel and if you haven't tried it on here to tell you that you should. Lydia onyx is a breakthrough product. It breaks down plaque on your teeth and prevents new plaque from sticking I brush with Libby onyx twice today and every time it feels as though I've just left the dentist's chair look beyond excuses effective safe ingredients not harsh detergents and the results are clear a recent study a UC Irvine showed that Libya onyx reduce plaque two and a half times better than a leading toothpaste don't just take care of UT protect your oral health call 347242. 5990. And ordered Libby onyx dental jail today when he is mine named Barry. You'll get a 10% discount off your first purchase that's 3472425990. Or order online and best dental jailed dot com. Security suffered through securities America ain't member finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Even your money and your team room right here there's the financial exchange with. Barry Armstrong and chuck soda on the financial exchange radio network. Direct Goodman is the current president. And and CEO of staples she took over when Ron Sargent. Got fired after the botched Office Depot merger attempt. And the winner on this question was Joseph from him Joseph take some financial exchange prize pack including two coffee mugs a teacher and two hands. And trivia today is brought to you by the Armstrong advisory group. There are a lot of hidden fees and expenses. Associated with mutual funds so if you want to learn more about them and how they may be impacting your portfolio. Call 800. 393. 4001. To request your free copy of this month's guide the hidden cost of mutual phones that's 800. 393. 4001. Paul tolls from Bloomberg joins us now in the article was titled. The great Obama lithium rush to fuel the new economy and Paul thank you very much for joining us to do it here. Paul can you talk a little bit about the background of the story. That you put together for Bloomberg couple days ago. Sure well lithium is the key ingredient in these batteries rechargeable batteries that power everything from our. Hearing aids to electric cars to iphones to block long electric buses. And a couple years ago it is everybody basically started to run out. There is lithium is. Produced about 90% of that in the world is produced by four companies and DeWitt in the increasing demand from cellphones. Over the last decade or so. They just couldn't ramp up production cut and it took takes a long time we can't just look at switch and to increase the amount of lithium that you're producing. The other thing pumps are good at the other thing I find interest in Paul as you know just just a Segway on that. Is that the US produces very little in terms of lithium right now it's predominantly Australia you play. China in Argentina the do about 90% of the production. That's right the only place in North America that's producing lithium is a little area of rural methodical and Clayton valley and coincidentally it's just 200 miles from Tesla pig factory. Albemarle has been produced in there for that fifty years we'll actually was to subsidiaries masses that he years or companies that it that Albemarle pop up. Has been producing there for about fifteen years and now a bunch of startups are rushing in that space and picking up planes on the borders of Albemarle claims typically belly. What exactly is the process for I guess eight looking for a lithium deposits and then be actually getting out of the ground and turning it into something usable. All right well lithium is found that like most minerals in rocks and you can separated at that way but the most efficient way of getting it is from Brian solutions. These are salt water solutions that are found in that you mentioned just a few geological formations in the world and it. So first when you get there you have to find the there's drilling testing. You have to figure out what all the that the layers of the sentiments are pictures that you're going to be. Acting safely not endangering your rig yourself for the environment. And then you need to figure out how many parts per million of the brine solution. Are lithium. What else is in there besides lithium magnesium can be a big problem because the forms at home. On evaporation ponds and not get to that. That that. Brees is your operational costs basically by making everything take longer. So once you figured that and you get it out of the ground they've put through with him these huge ponds where they just let the sun do their work do its work and fortunately again areas you mentioned Argentina where there's Bryant and quick belly were there Brian it's generally hot dry sunny. So those preparation. Can happen more quickly there than most other places. Then one. It evaporated out and get into this flurry material. And then it's processed in a chemical plant in two different grade of lithium carbonate or let him a crock side. Which is what the better material and manufactures. And then it goes from there to bet filmmakers and then from there completely ticket factory but which there are several Asian. What can capital costs are required upfront for these starts and how much risk is there. That even with you know be optimistic projections they have the they don't and making anything. Well the risk is that you don't really know what you're doing with only a few companies that that. Produce lithium for the amount of technical expertise is not widely distributed. So there's very few people that know how to get it out of the ground and do it profitably and do it and make it that. Material composition that the manufacturers need. So. And then you know the drilling rigs can cost a few million dollars of all the equipment that goes with the cost you million dollars. The cleans itself cost the money you know you need to get the water right can be an issue depending on where you are. So it gets into the tenth two million dollars but. The most important. Things that you need is intellectual capital. Very good well thank you very much Paul it's a fascinating topic and obviously with all the battery demand it's expected to come in the next couple years so that we'll have to keep denial but thanks again for all the research and upcoming all of this tonight. Director Paul tell us from Bloomberg and it is fascinating that they're doing this this prospecting for lithium. Right near where castles building that gave a factor where they wanna be building all these batteries you know anything new. You kind of wonder right. The thing that. It strikes me is that the lithium. It's somewhat of a mature technology. And we've learned in the in past years it you're probably 510 years away from the next generation of battery technology. They're very to have anything yet with vacancy walk here it works great and it's less expensive and it's and it's later. The they've got ideas as to what they'd like to do that we talked about graphite batteries we've talked about liquid batteries. But I haven't seen anything yet that is gonna compete with lithium in the short. Now there's nothing quite there right now in terms of reliability cost and things like that. Eventually a lot of texts that were talking about. You mentioned graphite there's also lithium metal as opposed to lithium iron. There lithium ion. You know a lot of the things that were talking about potentially could be smaller. More stable gonna be handled more pat vehicle more power but. There's still a number of years off the the weights is a problem rate lithium batteries are heavy their heavy. And and the catch on fire some times the Samsung galaxy note seven. You know. That was more technical and had this reply they've made the batteries for early you know we have this would remember the 787 dreamliner via batteries kept catching fire in the cargo hold had to replace the whole things because they're manufactured in that camp medics. But that hopefully that is behind and I just wanna see the next wave of technology has. You need something that has a lot less expensive in order to get mass adoption of crude oil is trading at 5124 that is a surprise. The Dow was up 146 point that too was a surprise we got that strong ADP report this morning and I think that's the reason behind the rally in stock prices today. Thanks for tuning into the financial exchange from our insurer match dot com student.