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Full Show 6-21-17

Jun 21, 2017|

Full Show 6-21-17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and show Oksana. Your exclusive look at business and financial news affecting your day your city your own. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. I had an economics professor. Who taught me many years ago that you would never get economic growth and an economic recovery without a recovery in housing why. Represented 18%. Of our economy tiger buddies Berrian truck with you. On a Wednesday. And son of a gun if we did not just yet data as a relates to existing home sales. Better than expect. They're coming in at five point 62000009. Units on an annualized pace. Up from expectations of five point 57 so slight beat their OK not as usual but about a 1% beat which is obviously good to see you know so you do have a little bit attraction in housing after. You know some data over the last month that kinda threw into question whether or not housing was starting to run out ST a little bit. I think Lee in you can make the argument that it's running out of steam based on. The lack of construction you know aids it's COC that is running out of steam. Yeah you might be right he might be right might just be taking a breather I mean knee get some of the stats that I came across our remarkable I mean. It's a new low for days on the market in terms of how long it takes to sell your house never been faster if this is a record setting market. First time homebuyers. Which generally you wanna see that number in that 45% range. First time home buyers only represented 33%. To these transactions and that's. Part of the reason why I still think that housing has a little bit of room to run as we still have a significant backlog of people who want to buy houses. That because the low inventories they haven't been able to. When we talk about housing starts and I know that we looked at the data. Over the last couple days we set you know it's it's disappointing. It was disappoint for the month early for three months is and maybe in the trends been bad no IIC really one month that has actually broken the long term trend line because. I'm not concerned we're short term fluctuations we've seen times were 23 months we've had been not great numbers necessarily you know the only number that really concerning here is that may want. Okay if you start to get numbers for June July and August that are still in that you know million one point 05 million to one point one million range. Then I start say OK maybe that maybe there's something here but otherwise there's only one data point there that actually broken the long term trend so. From my perspective you look what we've done over the last call the last you know two years OK so from. The middle of fourteen Arabs are the middle of fifteen okay. We've seen you know it is steady improvement here aside from the last month and so that's where I sit there and say okay. As long as we can bounce back over the course of the summer back into that one point 151 point two million unit range from where we're going to be fine if we continue. To see a little bit of a slump. That's where I start to get worked 55%. Of homes sold during the month of may. Were on the less on the market truck for less than a month. And that's that's why I look at this they say look you know obviously the new home starts numbers aren't great. But I think this multiple reasons for that the overall housing market is not going to be determined. Just by how many new homes are being start right remember we also have to look at what does it there's a map most people buy existing homes 90% of homes that are sold are existing. What I look at the the fact that the first time home buyers haven't jumped in with both the yen is simply being pent up demand. The it is you know it you're thirty year old couple and you haven't bought a home yet. Well there's a pretty good likelihood especially if you're both professionals and you have a job very easy you want to own home. Very in your thinking OK what are we gonna do if I can't island this year. Coming in before next year I know. I know plenty of people that have been looking around they've given up on this in the silica can gonna keep saving and try to do it again next year you know there's there's plenty of people who want to get into the market. That haven't been able to and I think that you know that's part of the reason why look even if you see. You know a little bit of weakness in the short term I don't think there's I think the four on housing is relatively high at the moment. I'd point out that inventory levels are four point two months last last month it was four point seven so inventory levels. Continue to decline it despite the fact that prices are up you know you look at housing prices my gosh housing prices are up. Inventory levels continue to decline. Mortgage rates are low I mean you look at mortgage rates the eyesight interest rates yesterday truck they came down. Again yeah I mean you talk about where they are depending on the type of mortgage. That you're looking at him and you know rates can deny it historical lows on there to the average thirty year right now is right around 4% so it's still is incredibly low. You go out you take a look you say OK what if I'm looking at some of the the adjustable rates go take a look at you know 51 armed there around three and a quarter right now you take a look. At the fifteen year mortgages that somewhere right around three so. Mortgage rates are still incredibly low there's still is I think. A big pent up backlog of people in their late twenties and early thirties that haven't bought now people want to buy and and and knows that I see them all the time I'm going to be. Spending some time with one of them a couple days they've been looking for the last two years they still haven't been able to get into something. They want to. Chart. With Tucker to protect trucker. This this thing's a stalker. This is what I'm about to say is gonna kill. All right she says that's shock was right all boy got shot was not right. He called. Atlantic is not gonna survive at Hoover and I said. He's worried news it was actually may 25. Where you said he would not be ousted and I was wrong he was ousted the end. And Andy did not go quietly he did not go. Of his own free will you know one of the major leaders to throw him out. Fidelity Investments yup they were one of the the big. The big companies that was pushing for his ouster here along with a number of other venture capital firms Menlo ventures lower case capital will he would get thrown like you were quite insistent that the time view we. He did you get thrown out and and I looked at it they said look it's a sexual harassment often you know some late behavior issues I didn't think it was a big I don't consider sexual harassment only behavior I don't either but it'll be to throw the founder of the company. Because. I don't see he hasn't been accused of sexually he's now accused of not managing the people that worse actually. I think it's who what when I was looking at the situation it wasn't that it was one thing then it was that. Every two weeks it seemed there was another you have a sexual harassment and yet the issue with great ball where they were trying to avoid authorities. You had issues where they were paying their people right now are making adult for him these auto story yeah EU had the story with obviously cor eleven Dow ski from mark coming over from Wayne Molina and note in do you think that was the nail in the coffin now on that's were I started to get the sense he was the day you blink when I look at all the stuff that you just mentioned. And that's the gray Balkans I looked at that that's an okay well. He's making EE he's paying his drivers born he's giving them more war no no gray ball was the one that allowed them to avoid authorities who were looking for their cars in areas where they weren't supposed to be operational zones so I see that loving doubts he thing was the big one because I think that was it that was that's something where you're an investor Travis clinic problem came to you and said look we're going to be losing money for the next five years but our platform is to build an autonomous vehicles that we can get rid of our driver costs and there and we'll make money on the back again and I stole the technology to do it and then all of a sudden it's yet by the way technology we can't use after fire the guy who developed it and we have to start from scratch that I bet. That I think is where I start to say. No I addressed it night in in retrospect the U were right I was wrong and I guess said I just. Damn near killed. That's how I feel good there that was hard. Police don't get a prediction on Hoover coming up so what's the when that we have who's gonna replace them. I would that we actually have a board now this is good that's good position I would say it was going to be here woes that in Walt bowls or something. Oh no that's the guy from Z actually he'd be terrific. My that was Howard Schultz from Starbucks now tool. To hunt down. Too old and too political he is exactly what you need in that company one runs a cleaner shipped and how much I want a guy I want a guy or again now. In her forties who as a lot I wanna sheriffs and virtual Sandburg would be really good he eat she's not getting the job is to be stepped down but somebody like her. I think down to a degree. Also news out of Hooper the eight. Drivers for Cooper will now be allowed to receive tips in the past they have not been allowed to receive gratuities believe it yet they haven't been able to lift drivers have been able to for awhile this and they love it I talked to withdraw the other day he said and it's the best thing you know this. If I was. Driving for Hoover used averaging twelve to fourteen dollars an hour driving for lifting was averaging seventeen to twenty dollars an hour yep it's and again. You know he's able what what's the real difference will look if you're driving twenty hours a week that extra five bucks extra hundred bucks a week you're talking at 5000 dollars a year for part time job that is a BB. Difference there and if you do have full time it's obviously even bigger talking about an extra 101000 dollars a year it's. It's not nothing so. It's. This this is I think. A start of Hoover trying to reform itself and present in new image saying hey we're gonna take care of our drivers a little bit better they're gonna try to do things to address each of these issues that came up twelve. Over the last years ago the the logic behind why they didn't allow tipping. It which I appreciated the Sid you know you'll go to bad areas no illusion not gonna drive. In the poor inner city areas where we're where we want you driving and provide them transportation that was their watch. It wasn't also just to make it simpler from a user experience like you don't need to worry about tipping hey everything's included don't worry about it but I would like to be open to these guys they can you get in the car. And the guy in only if he'd say he has a bottle that's a big thing get off a plane. And there's a bottle water waiting for in the car yet that is from I don't know about you guys that I appreciate that fell 1% and down if if that works the sub if the driver was going out of his way to make sure it was a pleasant experience. I'd be happy to buy conduct. Yet he even just couple yes of that we toss pay your connection to boxing you know just give a little bit extra just so that. He's being compensated for what he did there now. Are up next we will be joined by Patricia. If the F you know we talk about housing and depending on where you far. You know you're listening to show same old boy housing prices haven't recovered in my neighborhood and they be true. You know housing recovery has been largely relegated to major cities will talk about that and more from our insurer match dot com studios. Armstrong. Zone. Bringing you the best in business and financial news every day this is the financial exchange radio network. If you Google asset protection plan and you'll get more than six million results how're you supposed to make sense of all that information hi this is Barry Armstrong and the answer is you shouldn't what you need to do was call Cushing and all of the experts and elder law they Britain a brand new guide to pop up misconceptions about Medicaid irrevocable trusts this -- details thirty of the most common misconceptions about using irrevocable trust to protect your assets get your free guide by calling 8668485699. Big you have to ask permission from your kids to use your own money not a chance think you're gonna have to pay higher taxes if you wanna make your assets unavailable for nursing home costs absolutely not there are a lot of so called experts out there but take my word for and get some information from a law firm that has been helping families just like yours for nearly thirty years call for your free guide today 8668485699. That's 8668485699. You can also download it right now on our web -- legal exchange showed dot com that's legal exchange show dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer mention agency can prepare personalized plan that gets you the best coverage -- 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 all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers at 844 and 99 match -- 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo 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 84499. Match or go online and ensure a match dot com. Barry are strong here and I'm joined by Jake too who's a vice president at leader bank and we're talking about the housing market the housing market as you know. In short of supply. Long on demand. In Jake for first time homebuyers with what is your message to the young couple hours to somebody's out there looking to purchase their first time home. Yes so you know for first time home buyers what we are telling them are a couple things one. Be patient yes you know we we see a lot of first time homebuyers who are making five and fifteen offers. For fighting house and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than other half to. Pay more than the asking price and a minutes is quite common right now in and in some cases are actually having to to research other towns are rooted in. Considered first because. You know it's very pat can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to tell us about this leaders thirty yes that we are really excited about this product we just launched it is cult leader thirty. And essentially what it is is that fixed rate loan. Where if you sign up to pay your mortgage automatically electronically and everybody does for the first year. You get to lower your interest repayments by 1% that's very. Helpful offer because what it does is gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. When I bot. A hole. And when I've refinance my properties have always use liter bank near terrific bank you can call them people free at 8776917. B 900. Or visit them online leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered two 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. Stay on top of breaking financial news I'm becoming a member club Harry's brigade mug on the financial exchange showed dot com and sign up today. The housing recovery is leaving out most of America elsewhere Deans are slow and low income households are paying more rent than ever. The reporter on this story is Patrick Clark from Bloomberg easy enough to join us today on the financial exchange Patrick welcome. An area good so tell explained to us what you mean by an uneven housing recovery talk about parts of the country soon. Right parts of the country and and even in the within metropolitan areas are too. Parts of part of those mattresses below Abu. The united I think only. Only about 40% mattress in the U. Recover. Peak home value from them before the recession. You know and and and even their unique he's the the rapid price appreciation in. The country's most expensive cities. And and an almost flat. I home values in the in the deepest part of the country. Quote go and everything that they with a maturity he's Lowe who low income neighborhoods have been much. Much less likely to recover home values them the moderator or more affluent neighborhood has. It why is that Patrick. What why is it still and even in lumpy against user who referred. Read a minute tickets. I think it's largely a question. The and and you know demand probably driven by job growth. The leap don't have enough. On personnel in place to play most of her new York and Cisco. And and I need you got it in Alaska said you need that. Bitter and these guys perspective buyer trying to outbid each other than that given up home values and some of the places but. You know other parts of the country where you haven't had as. As a hot competition. Maybe home values haven't risen as much similar thing is in other parts of the country where. The the house and both them and the recession we're concerned corrections that that home prices have pack farther to farther to have to rebound. You know we broadcast from the Boston area but our show is heard throughout New England. And it I I've looked at what's gone on in Boston and I used to live in New York so I've watched for you know long time what happens in New York. Do you think that the market you just referenced Boston New York San Francisco do you think you're in a bubble VA VA are we risk of you know seeing. 2530%. Decline in property values in those big city markets. I go to questions I ask. People and then and you hear him some chatter about it but I think most of the ties them to mostly answer that I hear from them come economists and then. Glued and so forth this is. It. Oh. Live not really at risk of being in in a bubble look is. Two. Look expanding. Home prices are being driven by this imbalance between supply and demand in the it's not as. People are speculating in the let me buy a home in in in Boston right now because the market can only go up the play that well I've got to pay more of this complicated. They're good enough that people bit against the and I get that now I'm stuck. And their rank and it's also expensive so. You know you might have some you know super expensive part of these markets have been a little bit overbuilt. And may be. You know you may make these sellers haven't come down a little bit from. Lou they're asking price but I think that. You know that's really rarefied air core problem for the majority. The company's market. It seems like pressure being given by. Supply and demand. Very good Patrick thank you very much for your time we sure appreciate it. I thought Patrick Clark Bloomberg U group that means you know secret a bubble in in the Boston I think that you can. It's it's difficult to tell him here's why one of the statistics I like to use in order to figure out you know whether property values have gotten a little over inflated. Is the ratio of home prices income. OK so how much are you earning and then how much is your home in relation to that and typically. On a national level where we've seen healthy market is okay you typically see a ratio of about three and a half to four. Okay so if you make 50000. It says okay you can afford realistically home between 175 and 200 if you make fifty pounds net that's where you're not stretching yourself okay. In Massachusetts okay the ratio is about five to. So it's higher than okay. The median household income in mass is about 70000 PO in the median property value NASA about 350. OK so it's a little bit high but here's where gets a little bit is it's skewed more heavily towards because of the big city though. It is it will in his eye look at C but really here's thinks of Boston as a city looks worse actual okay boss the median household income is 58000. Media property values 450000. Why most people buying property in Boston don't actually live in the city OK they live outside the city typically they're not working the ones who actually lived in. Boston proper PO. Are necessary that typically renters OK the one's who are owning those properties in the rental properties their main home is outside the cities of their income is not included. In the city of Boston giving example that you looked acts. Who'd be good he's a look at them my daughter my daughter you know if he young lady she just bought a place but she works and lives in the city she's the rarity. You know you look at all the people who work at fidelity down in the seaport. How many of them actually live in the city Darryl commuting and all the people who work at GE now how many of them are actually buying property in the city most or buying out in Weston in places like that but what I've seen among my pierced is. Lot of people will move to the Weston's in the med fields of the world and they'll raise their families there. But then they'll move back into the cities cricket but when they moved back in they're not working anymore so the median household income charge there are immediate help but again I see this if you're looking at the stats out I'm so I'm telling you what it what it's showing actually. And the other thing you have to remember there's a lot of foreign money comes in it's the other day in that that especially in Boston you see. Rich Middle Eastern kids it's of these. The there'll you know come in and buy a two million dollar Condo for them to live and while they're going to Boston university in so they show no household income in the city. In the at the other two million dollar place and that's uses well so their father's a Saudi prince called to mind exactly so when you take a look at what you actually see there. It's a little skewed now let's take a look at Worcester. As a as counter example. Was to the median household income up 45000. Median home price to ordered 5000 right around that fort wondering if your number it's right where you want to be so. I think the cities tend to be little skewed you take a look at New York City as an example OK and New York, New York median household income 55000. That's it. Okay median property value 538010. To want okay. Put New York it's got that it's it's a different more I get there I got a lot of foreign money in New York on our. Coming up will have Wall Street watch and trivia question for you from our insurer match dot com studio. Making your Smartphone even smarter. Dell logo mobile lab by surging financial exchange killed in iTunes or those who. Who played stores this is the financial exchange radio network. 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Security suffered through securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer as we get older the state planning becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect yourself and your assets the best way to do this is through trust. But don't listen to the bids about having to give away all of your assets or control over your trust or the best on which is you may have to ask permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing and Goldman the experts and older La have written a brand new guide top misconceptions about Medicaid or rev a couple trusts. This guy details thirty of the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again it is illegal exchange showed dot com. It's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that 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 of faster closing co lead 776917. B 900 that's 8776917. B 900 or visit leader bank dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure -- -- agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's 84499. Match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered who also dig out all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers at 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance can continue time stress the money with just one phone call and one relationship. Called today paid for four of 99 match or go online and ensure a match dot com. If you're real estate or property management company -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative to see rent payment platform leader bank has a team of business bankers -- on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies -- leader bank as they're banking partner call 8776917900. Or email BBO at leader bank dot com for more information member FDIC equal housing -- Our form. Wall Street watch a look at the market's performance so far today the victim Marian joke right here on the financial exchange radio network. Mike Armstrong joins us now for Wall Street watch like little bit of a divergent market today. You've got sectors such as health care surging ahead utilities and hanging out down below the what's going on. Yes so first effort healthcare it looks like we're finally get a glimpse into the the Republican health care bill which. You know. For better or worse well that's good or bad health care sector. Information disputed that health care sector moving a little bit but the energy sector continuing to. Really struck earlier and same with the utilities sector as you mentioned. Don't run over in Saudi Arabia looks like there's a little bit of a shake up in terms of the line of succession. For the royal family. There is yet so not something that we discuss the whole lot Saudi politics on the show but you're actually correct Mohamed bin some on the former defense this minister and the son of the current Saudi king was named next crown prince. Relieving the Interior Minister Mohamed bin. No one really knows exactly how this is gonna shake up the deacon was surprised to all analysts. Historically. Selma and the news corporate movie it has been pretty aggressive with neighboring countries so there's some. Guesses that perhaps reveal the tougher on OPEC. Member countries about cutting production when they're called on to do so. What's going all the lazy boy up 15% to that he has is pretty violent a look at lazy boy the opposite furniture maker they'd beat estimates by eleven cents per share with current quarterly earnings of 57 cents a share. And that should be on both revenue and same store sales the stock has moved in big today up 15% that you mentioned. It stood on the story here. Outstanding Mike thank you very much for the time they had tickets to Michael Armstrong airways' board by the way. Bigger than a lot of people realize they do about one point four billion dollars a year in revenue and employ 111000 people he's a great chair. To be the my dad's got one and it's terrific that get 200 different patents reading about right now now. That's good company. We learned this week that Stephen furst the actor who played flounder in animal house passed away at the age of 63 will be asking trivia questions today about animal house. What was the name of the delta house for turned the depicted. In the movie animal house. Our text number is 68681. Listener with correct answer wins a 25 dollar gas card. What was the name of the delta house fraternity. Depicted in the movie animal house. Amazon will let customers try on clothes before. Buying on Tuesday morning the company revealed a new program called. Brian ward drove talker that allows people to order clothing. From three to fifteen items at a time without without. Buying you have to pay for. You eat you know have to pay for Amazon will charge them only. The the items that they keep us customers can return. The items they don't want in any receivable. Box with the prepaid printed shipping label. That the law order came this I'll tell you what it. Obama clothing retailer. This has got me petrified that was gonna say I mean this is pretty much what's been keeping warm clothing retailers opened for the most part is a lot of people comfortable go to trial on sneakers or I dress shirts are etc. And now m.s on as answer to that now. My wife. In your fiance in chuck your wife are going to be all over the I don't know guys all legal process you as a credit. There's been a lot of companies doing this out previously in my one a buddy of mine actually started one back in. When he eleven or so in the problem they can ran into was they could get to critical mass where they were big enough. Amazon doesn't have that problem so I think it's gonna make sense for them I think they're going to be able to handle this. Do you think they'll make their own private label clothes. Pickets here but I wouldn't. It's cheap when you do that they'll beat you you should see Dick like. You know you guys buy a pair of sneakers when he pay for sneakers fifty bucks and about dish and death so we would if it actually cost to make me. Keep going down it's gets it between five and eight dollars you generally in terms or wholesale cost through to pretend to 15% typically well Amazon's history right is trying to. Cut the prices and and deliver so imagine if there. Competing that's new balance right new balances big in the sneaker business and they say we're gonna make a better sneaker the new balance or to sell for ten bucks. Holdings had a tough market to get into those specially today would what's happened in the reason why a lot of your major retailers are struggling. Is because a lot of the new ones have turned around with much quicker cycles to get new products into stores so. Historically if you look at your legacy coding retails your gap of the world J. Crew and so forth and it was three to six month lead time from when they placed orders to when they actually put them in stores. What happened is all your new that you're talking about logistics and no I'm talking about actual manufacturing. Well okay what happened is all of these other companies are forever 21 teach them to the world came in and they started turning products around in three weeks now okay. And that the legacy guys just couldn't keep up so you don't think if you're not bullish on this. Well I'm really did I am so this is different from Amazon manufacturing their own clothes are not that I'm not bullish on Amazon making their own label. Because I don't know if you want to get into being a fashion label as a difficult business to get in when you think about the the prime wardrobe concept I love that now. I just don't think that they wanna be many fat Amazon is not. Ever shown a desire to manufacture any. Aren't they are also coming out that device were you can it's like a camera and it shows you what the health it would look like on yeah yes and in that fits in very well here like imagine your Joseph A bank. Right whose daddy buys your suits and they've bank is already in deep crap from all the failures they had a couple years ago with the meant workers no not my child early news rightly guys like you and me right. We don't look forward to do just that we do it does not torture our our shirts our our law and let me just too weak legal green globe asked the retail on naked. When you close we can but. It's it's frowned upon. Nobody buy foreclosure radio. But my point is that I think this is this my wife is in love this because. The they discounted the more you purchase. The did the retailer will cut 10% off the purchase price of an order for anybody who keeps three to four items. That cut 20%. For anybody who keeps five or more items. So imagine the women in your life. Meaning the oil a you're you're gonna go broke you're your your wife is gonna just super bank accounts that this in the Central Bank account of the manifesting. We want the one thing that I could see people taking advantage of Amazon wardrobe is just. You know renting an item of clothing per night and and sending it back not ever buying it. But using it to article ought to give you the Zdeno. Right that now yeah I try to remind you has not a job for awhile and that's how we like. Tries to really go out with girls he goes and walks into a store buys a piece clothing for the night the returns and today was the tag on still it's got it's kind of funny actually who said dunaway. I I. I'm very bullish on this I I think especially Tucker with the point you made about the camera down and I think there's great immigration there with that camera system. I think this is meant that men might be the bigger user since. I think women. The the something perverse about women and they'd like to go while they do now if they might be the gates and has its share of social experience of up for hours powers. Where's men right what do we legal because we have to rate we'll enjoy it. And on an and we go we go for that one item in the and its discount on your way at the Stewart's grab this grab rest and hope it fits how how fast can we do that yeah you going for two minutes and you come out with eight things were is a woman will spend lake. 45 days in the store come out with one thing. I've talked to a lot. About our friends at the insurer match agency in the exist to make sure that your assets are protected and if you're like many of my listeners who won't hold and one or two cars you're the perfect candidate for free consultation. With one of their agents to help you review your insurance needs. Called them today at 84499. Match that's 844. 99 match and let them prepare a personalized plan that he is the best coverage of the best price. They will also dig out all the discounts at preferred customers like you can qualify for. Call insurer matched to compare multiple rates from all of the top carriers including our bill. Plymouth rock and more Eddie 449. B nine match that eat for four. 99 match. Insurer match is licensed for all types of insurance and they can save you time stress in money one phone call one relationship. That is all you need call today eat for 499 match or go online. And insure a match dot com here's another idea that I really. Self storage start ups offer pickup and delivery. I did this to be very popular in cities big cities across country poses different from liquid pot stills. Whose pod. Distort pods or they could you have to do yourself you have to take you have to. Period furniture out of your apartment units except your driveway and and it would if you live in the city and you don't have a great year here in an apartment. But I think this is as a concept for city book what it does is my understanding correct me if I'm wrong. Let's say use your living in me. A three bedroom apartment. And you need this or samples and you need to still worse them. It because if you my daughter AG in her apartment she is no storage space whatsoever. Well I guess I guess here's here's where I look at it is you know pods already does this if you're living in suburban area pods or does the dropping off you put yourself in and then they take it away and they bring it to where we walked right but that's assuming. That you have the space to put applaud. I guess what I'm like hey I don't know if your house I don't gonna play in the truck and and distorting your. Your own cabinet at the storage facility and then when you want and you pay rent and then and that charges 35 bucks an hour. I worry about the cost them their products and our I worry I worry about 35 dollars an hour for the labor tall guy they don't card charge for transportation rates though if when they have to go I worry about the cost parity when I was moving this year. I will to DePaul and it was five times the cost of storage unit that I would take the stuff to myself this is going to be even more expense. Because they're doing effort well the archer they would they're using our existing storage facilities. So they're charging five dollars an hour and then their marking up the cost of the storage. But that's not saying like I think the caught lake again I I rented a storage unit for three months in for 200 dollars. Pods is gonna charge you 900 do the same thing. This is gonna just get more spend it usually you're the you're not at into the side the you know because I think it's an interesting idea after the big money behind you see the money. I mean there's been big money behind a lot of ideas like soc column had a ton of my money behind 20 over the some pretty Smart money is in some of the guys that are investing in this. You know there's there's there's been Smart money behind Twitter. And and that when he's gotten cleaned out and Italy Google's investment. Who was always right like again I I I always an idle all hailed Google. We're not worthy you know we're not where they go on some dumb things to anyone remember would do what was the Google Wave. I don't know that is exactly was their big product it will cycling champ knows it was supposed to be their new capping back in 2011 that was gonna replace email. It died in six analysts everywhere and remember Google+ the social network that was gonna take down basically Google dot ever happened while a Google glasse everyone's walking growth plus you can see one letter on their their comment again and again I I just. Pump these companies do a lot of things wrong too that trial a lot of things and have some of the more. But I'm just I'm skeptical just on the cost like storage restored to be effective it has to be cheap. But no once the pale watches the story yourself people in the city rule to follow you week. Tucker and I are bullish on trucks bearish on the token. Up next we will have true much the tape to career Damien Conover from Morningstar grab a pencil paper stock tock in the answer to a trivia question. Is up next from our insurer match dot constant. The financial exchanges of live on FaceBook so make sure like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Hi this is very Armstrong many of my clients are retired or are planning for retirement and if you're like them annuities may be an important piece of your financial strategies annuities can offer guaranteed income for life but there are risks associated with every purchase some annuities have high fees. While others take control of your money if you're considering buying an annuity call me right now and get my free guide the truth about annuities learned about the pros and cons and educate yourself about these products beef. For you make your decision call 803934001. That's 803934001. Or you can download the guide right now at our website financial exchange showed dot com. Security suffered through securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated guarantees are based on the claims paying ability of the insurer. Your financial strategy has to include a thoughtful insurance plans and insurance exists to protect your assets. Our friends -- the insurer mention 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 a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more. Their license for all types of insurance and can save you time stress than money with just one phone call and one relationship. Called today 844 of 99 match or go online and ensure a match dot com Barry are strong here and I'm. And by Jake too who's a vice president at leader bank and we're talking about the housing market the housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers with what is your message to the young couple hours to somebody's out there looking to purchase their first time home. Yes so you know for first time homebuyers what we are telling them are a couple things one be patient. Yes you know we we see a lot of first time homebuyers who may eighteenth five and fifteen offers two for fighting house and offers except he's extremely. Okay. And so they have to temper their expectations. Often times they're they're paying more than others have to U. Paying more than the asking price and a now it is quite common right now in and in some cases are actually having it is to research other towns and rooted in considered first because. You know I can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to tell us about this leaders thirty yes we are really excited about this product we just launched its cult leader thirty. And essentially what it is is that fixed rate loan. Where if you sign up to pay your mortgage automatically electronically that everybody does for the first year you get to lower your interest rate payments by one person that's very helpful offer because what it does is gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. When I bot. A hole. And when I've refinance my properties have always used leader bank near terrific bank you can call them told free at 8776917900. Or visit them online leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. If you missed any part of today's show not to worry good financial exchange show don't come 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 up that listen button had financial exchange show Doug come. This segment of the financial exchanges brought to you by zero to. Your landlord take advantage of zero it's a fully automatic online rich collection tool. That is free for landlords with an account at a participating banks and always free for Tenet sign up and have rent checks deposited directly into your account. Call 8776917900. Or visit she red dot net for more information. The name of the delta house fraternity depicted in the movie animal house was delta tau chi. Hi. She. That happened at a the litter on the question was John from Plymouth John is taking home 825 dollar gas card to mobile. And our trivia contest today's brought to you by the law firm of Cushing and dole and experts and elder law. If you have questions about your existing state planners need advice on creating a trustee protector assets from probate. This coaching don't day at the league looks to exchange show. Dot com Damien Conover or Morningstar joins us now here to look at a couple health care stocks Damien thank you for joining us today. Damien were talking about Pfizer and Bristol-Myers Squibb what's the thesis on these two companies here. Yet to take a look at these companies these are both companies that can't. Pretty strong portfolio currently marketed products. In their little bit different so take them one at a time fighters the company that is probably going to be growing at about 5% annually on the bottom line over the next five years which is. A quick assessment Bristol also like and the character's little bit more of value oriented it's treating them that significant discount to our fair value in the stack should be. About 37 dollars in this its trading closer to about 33 and perhaps up because a lot of upside here in what the market is missing here is that a lot of really important. New cancer products which historically hasn't been in the area were fighters and positions so as they move into an area I think the markets take a little time to catch up to what we think is very strong outlook for these jackets products and historically we think about prizes the company has a lot and losses. Now as we look forward and losses are really in the rearview mirror that is up for nice steady growth going forward. Seems good to go back maybe three or four years 22013. 2014 these kinds of companies were buying up all kinds. Of Biotech companies it it seems like the acquisitions of dried up now is that accurate. Well I still think there's acquisitions coming out of the magnitude that we saw a couple of years ago you one of the things we see with these companies is they generate enormous amount of cash while they do a lot of good internal development that the lead augment that take gonna keep their growth rates context of Ingrid a lot of acquisitions. Not the Maine to California another point here is that a lot of those mid tier firms that the valuations and those are much higher now than where they once were so. Let's enticing for the big far mystic going to buy them out. They mean historically investors tend to look at health care stocks as being the strong dividend producers is that the case with both of these. Yet both converged on dividends budget yield a little bit higher you're looking at close to 4% with eyes are closed at 3%. But personally of these dividends are very secure to not only to get the ill likely capital appreciation that we're looking for the ultimate that strong dividend yield as well. Any concern for me regulatory or legislative perspective with potential changes for health care looming in the next year to. Yet such a question in the initial lot going on right now Health Care Reform but if you look at Health Care Reform so far. What's come out of the house represented it's really focuses more on insurance market more on the hospital market. Analog last on the drug markets now we still see exactly what's coming out of the senate but I think it's any more likely. Similar to what the focus is on the hostile to the farmers. Really so far look like they're candidates keeping any major legislative reform which within our thesis for a long time we don't anticipate. Major changes to pricing pressure coming from the US government. Very good Damien thank you very much for joining us today. Damien Conover from Morningstar the tickets on this two companies Pfizer with ticker PF EE. And Bristol-Myers Squibb with a ticker BM why the demographics alone. Would suggest that those companies have pretty bright future. You you would think so obviously patent expiration is something that you have to worry about the long run but. I think in general the demographics as you mentioned a pretty strong just told people tend to be biggest the biggest users help of health care we can we get we have 111000 people turning 65 every day now. We have a story coming up though about how some of the drug pricing is abusive. And if I just wonder how much longer people are going to be willing to pay you know 15102000. Bucks a month for health insurance. Yeah I mean is certain point it gets to just being unsustainable it's I think you're years and it cost you getting pretty close that limit right. Yet you get to the point where Pete you know these drug companies are saying well we're in charge. 2003004000. Dollars a month for these drugs and I'd just. At some point you know it is there's going to be are of health care revolution and stick around to watch it. Dow is down two points story that we've been watching all morning the price of oil crude oil trading at 43. 55 per barrel the nasdaq's up a lot to 37 point 6000 to 25. Thanks for tuning into the financial exchange Turks ought to Tucker Silva and very Armstrong. From our insurer match dot com through. Hi this is very Armstrong and like Q I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and Moody's may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth about annuities that's 803934001. We can download the guide 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 guarantees are based on the claims paying ability of the insurer. 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 FDIC equal housing lender stimulus 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 that the insurer imagine agency can prepare personalized plan that gets you the best coverage of 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 a free consultation to make sure your property and family are safe and properly covered who also dig out all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers and 84499. Match let's 84499. Match insure a match works with the leading carriers in the industry like our bella Plymouth Rock -- more their relations for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today paid for. And with your legal exchange quick tip of the day Todd one of the misconceptions. That I hear regarding these Medicaid pure vocal trusts. Is that he had to pay a higher rate of taxation. On assets that are held the seat of a brokerage account. And it has dividends and income where you have real estate in this trust it's got rental income is it true. That win assets are held inside one of these Medicaid durable global trusts that the rate of taxation is higher if the answer is it's false but again. The misconceptions. Rise simply because there are many kinds of your vote Coble trust out there and so. Yes there are irrevocable trusts that are not grant torture us and to result in paying taxes at a higher rate that's just somebody if they have one of these terrible will trash they should. Verifies. That is in fact a grant to work trust absolutely go back if you if you been paying taxes at a higher rate go back here draft. And make sure that you ask him is that he grant toward trust. Ours our current tort trust so what does that mean in English. That means that all that as you said bury the capital gains the interest the dividends the rents anything that's generating income in this trust is taxed to you. As if you were the owner for income type of thing so it just flows out of the trust he gets picked up on your personal return. Absolutely no higher taxes get the facts about protecting your assets avoiding probate and keeping your money in your bloodline all while reducing your state taxes. Requested brand new guide from Cushing handle it's the top misconceptions about Medicaid. Irrevocable trusts 8668485699. And download the guide right now by going to legal exchange showed dot com. Or call toll free 86684856998668485699. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense of leader banker called and learn more call 8776917900. Or visit leader -- dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead as we get older the state claiming becomes that much more important and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this mystery trust. But don't listen to the fibs about having to give away all of your assets or control over your trust or the best on which is you may have to ask permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing and Goldman the experts and elder luck have written a brand new guide top misconceptions about Medicaid or rev a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can give viewers today by calling 8668485699. That's 8668485699. Or you can download it right now on our website and legal exchange showed dot com legal exchange showed dot com that website again is illegal exchange showed dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank the Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by a 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. If you're -- real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative to see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917. -- 900 that's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as they're banking partner call 8776917900. Or email BDO at leader bank dot com for more information member FDIC equal housing lender. This is the financial exchange with Barry Armstrong and showed sell enough. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and today about the economic and market trends plus breaking business news. And the Clinton mentioned exchange we have Barry Armstrong and each so. Jimmy stories today. One Travis aligning health at Hoover much to my surprise in the other one being existing home sales hi everybody it's very truck with you here. On a Wednesday morning and and a skip over the trap the story because got that went wrong he's out. He's out he resigned as CEO under pressure from big investors fidelity being one of the biggest investors in Hoover. Now that the other story existing home sales. I looked that is a pleasant surprise. Well better than expected beating by about 1% five point 262. Million. Units on an annualized pace we also largest recently got some data. On the US petroleum. Both supply and inventory. And we see that US petroleum production out oil production continues to increase now to nine point 33 million barrels per day. That is up 600000 barrels a day since the same time last year I'm laughing because I just know that the saudis on him. They're probably not ruled that and in terms of crude oil we did have a slight draw down in inventories. About two million barrels but we still have about one point two billion barrels. That are in now oil inventories at the moment that explains the stabilization in the price that little bit yeah yeah that was that was pretty much expect we are expected to see a little bit of a draw down in oil inventories today. That's why I've seen about a 1% bounce back in the price of oil over. Of course the more okay our next story has to do with taking a vacation and don't do this 75%. Of Americans. Have taken a little known in order to go on vacation where they have incurred debt. In order to go on vacation that is nuts. It is the average job American crews about 11100 dollars in debt. For vacations that they take. And interestingly enough one colonials have some positives as far as their ability to save money. They are the most likely to go into debt over any trips they take 49% of millennial have gone into debt overeat trip that they have taken. It is like to travel with with the on. Could your generation always said to you know traveled the world and Mary travel the world Lilly did all these days. Our generations that have lots of babies now have them pay in Iran and let teach him to make lots of money for the campaign in my social Cigna wrong. I was telling yeah if it's if we we tend to travel instead of buying plate collections. And you borrow money. You can borrow money to do it gives you get barb my complete collections or condoms it's a push there. Hoarding money for a holiday limited edition one out of 250000. Is just talking about millennium here. Hoarding money for holidays with the top financial priority for 32% of Americans the study found vs saving for hold so warping it. People are more concerned about saving for a holiday. He's been there for saving for a house is. I think when I grew up guys. We. Like using green that she had to buy a house that was like the number one job when you college have got a funny story for you along. Those lines so I Avaya a friend of mine who she's been trying to buy a house for the last eight months or so no connect. What a bunch officers she's probably been outbid 78 times each time it's say you don't have enough for a down payment hey you know you know you you just now put in a big enough offer them. So what's with her and her husband do all they said they're gonna take a trip to Ireland at all. Is they have occupied the sticks and a down payment many good irons and doing damage in answer to what is wrong you're trying to zebra house now you take that money go and Ireland alone with. See my generation the way we're Todd is he didn't have enough money. To buy a house you out got a second job based directory hockey games men's hockey absolutely Tyson that's not a lot of fun refereeing men's hockey and don't know I can imagine just from some of the men's league soccer games I play enough where you know you got fights happening in this matter and I state finally it is suggested about break in. Now I'm fight there are bigger than me Gary younger than me and I had a hell let them. Is Smart move on your part in order BZ each other's brains out let in my head back and a lot of the guys that. Just note stabbing with skates epithet that's for various debts and do you know we we we haven't talked about auto warm beer and auto is the young man who was. Imprisoned in North Korea. A year and a half ago and he was imprisoned because of stupid thing he did today is he stole poster unclear is whether or not he actually did it and well regardless he was imprisoned. Any air. Lasted what maybe year and half in jail but eighteen months and that I sent back to a Stanley and Coleman any recently passed away after being returned I didn't know that there were tour companies and that's what views on who's on tour. Of North Korea and what does that have repeatedly you you're young guy disease is that something that appeals you'd take a tour of north currently why would. Might add that I have a son is in South Korea and I think he's nuts. But why would somebody go to north Koreans I don't know that there I'm generally pretty adventures as far as where all try to go. They're probably. Seventh tenth place on the world that I won't go. North Korea's won in -- language you know I don't have a go to Iraq won't go you know it's like there's a certain place that you won't go right now because they're too dangerous and even if it was free and wasn't he paid. To go in this tour. I'm trying to think that even if it was free it's a tech free somebody's age your wedding is coming up and coupled it. And you get a president bill Tucker you and your wife yet first class tickets to North Korea. Actually probably doesn't exist on the telly and tell you how I would go is if I get to go with Dennis Rodman. We built Manningham is Dennis Rodman's like. Best buddies opened so they've you know you can be protected indeed. You know it's going to be entertaining other than that I have no desire to ever go to North Korea I just I don't anyway the agency the tour agencies. That took auto warm beer over to North Korea is not doing it. They are canceling all North Korean tour but they also go to places like. They go to the dangerous places they do they they goats who the title in Iran Turkmenistan and it's they they go to a lot of these dangerous places in no appeal. And it's in which interest like the Easter. Tore strips of you know it's these are you know mission trips or anything like that aren't journalists in an odd journalists they're not trying to help people that are going discussion exploring in a bind that. A little. On now. Ford is not going to be manufacturing cars in Mexico ranked it's good news. Problems they decided to not manufacture them in Mexico but they are going to manufacture of the four focus in China. And I've got to believe that this is gonna raise the ire of Wilbur Ross adult for a it might wonder if they're going to be a lot of this is going to be just so they have easier access to the Chinese mark on sure it is you know just because you look at the major manufacturers over there. Volkswagen and GM dominated the scene in China as far as entry level cars before. The last couple decades. And so I think a big part of this is for wanting to be able to sell more into China. I think part of it also probably does not to do they can't get their trucks trucks and China I think he'd like to view it trucks and I would imagine that it you'll be surprised if there's a side deal that this announcement in here and weaker to. That word is going to be sell their F 150 in shine on guess without that. Because even agree what is this 2550%. Tactic 25 or 30% tax. And that's what makes the most sense to me as far as what they're doing this to fuel the cost of manufacturing in China or Mexico. Pretty much pushed this lake is there's not really any cost savings that you get. Between those two countries Chinese wages have come up to the point. Were there merely equivalent to what you see in Mexico now so I think it's for just wanting to be able to sell in there little reason. Do you guys know anybody who is hard of hearing. Yes so I don't. You know you must urged Iran not greater your dad lecture on her lawyer Sally grant. Never mammogram if they're able aunts whatever are they great hearing. Of the plan works. Now the reason. The reason I ask is in the next segment we're going to be joined by the co-founder of a company called. Frequency. Therapeutics is name is David Lucchino. In every Wednesday we do this we interview a business owner and he is a business owner who also happens to be the nephew. Of Larry Lucchino. But he's gonna talk to us about is. Injection process that can reverse hearing loss so you know anybody whose hard of hearing. You're gonna wanna pay attention to this next segment from our insurer match dot com studios. Barry and chuck get the latest every day beginning at ten only here on the financial exchange RealNetworks. Hi this is very Armstrong many of my clients are retired or are planning for retirement and if you're like them annuities may be an important piece of your financial strategies annuities can offer guaranteed income for life but there are risks associated with every purchase some annuities have high fees. While others take control of your money. If you're considering buying an annuity call me right now and get my free guide the truth about annuities learned about the pros and cons and educate yourself about these products before you make your decision call 803934001. That's 803934001. Or you can download the guide right now at our website financial exchange showed dot com. Securities offered to securities America incorporated member SpinRite SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets our friends that the insurer mention agency can prepare personalized plan that gets you the best coverage of 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 well so they get all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates in carriers that 844 and 99 match -- 8449. B nine match insure a match -- -- the leading carriers in the industry Mike Rabelo 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 Google asset protection claiming to get more than six million results are exposed to make sense of all that information. The answer. Is he shouldn't what do you need to do was called Cushing in Dolan the experts and elder law they've written a brand new guide top misconceptions about Medicaid irrevocable trust this guy details thirtieth the most common misconceptions about using irrevocable trust to protect your assets did your free guide by calling 8668485699. Think you have to ask permission from your kids to use your own money not a chance that you're going to have to pay higher taxes if you wanna make your assets and available for nursing home costs absolutely not. There are a lot of so called experts out there but take my word for it to get some information from a lot from that has been helping families like yours for nearly thirty years call for your free guide today at 8668485699. That's 8668485699. You can also download it right now on our website had legal exchange showed dot com that's legal exchange showed dot com. If you're real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative to see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as they're banking partner or call 8776917900. Or email BDO at -- -- dot com for more information member FDIC equal housing lender. It's our daily poll question had financial exchange showed does John. Vote your conscience and Aaron just vote go to financial exchange showed dot com and cast away. On Wednesdays we talked to business owners and today is no different we're joined by David Lucchino. Who's the co-founder of frequency therapeutics. And I'll tell you what if you know anybody whose hard of hearing. Make sure you pay attention to this segment and it's a lot of people. That are hard of hearing jets certainly isn't David thank you very much for joining us today it's great to be here thanks for having me David can you talk a little bit about what it is that you're developing and the approach that you're taking to trying to reverse your house absolutely. So that the technology in the vision for this really comes from some researchers from MIT and Harvard Medical School. In what they realised and this was a biological breakthrough that they came across just a few years ago. Was it all over bodies we have dormant stem cells and these are specifically copper Jenner ourselves and in the case of hearing there dormant and they're not activated so the leaving examples so all of our hearing of every person on earth. Is developed a before were born so when he's done so but by the time you're born you pulled your whole hearing function. In that function in those hair cells are that you're born with are the same ones that you actually take throughout the run your life and die with Coca. So the body's ability to read regenerate this but. For whatever reason those biological cues are activated and so there's this huge disconnect that we all live with the industrialization. Of you know our our world over the last few hundred years create all this noise. But our biology isn't meant as an sort of caught up with the industrial or not just deal with par warns of things like that and exactly. Then and that sort of the gap that we're targeting your looking to really you know connect the dots with so how many people does hearing loss affect in the US and global. It's the staggering amount of people it's hidden it's a hidden problem that people deny it people deny it you know and they deny for good reasons because it has huge in implications of there's just as many young people in the United States so eighteen. You know 55. As older folks that have hearing loss and you know I didn't know that before it started this company why is that. You know it's because of you know earbuds. You know the way to live life you know you're waiting as separate platforms and blogs are short concerts. Absolutely and but it's not tracked. And until you're hearing loss declines. You don't realize it to a really hit sort of a break point for you. And then you know you see the economic told people who are working age and you know have hearing lots more people like my folks who were in their sixties and seventies have your loss is huge social impact right in and we're really passionate about solving this problem what. Is the technique that you use to try to activate these cells is it something you have to take on a daily or monthly basis how does that work. He a lot of the details are being worked out but I can tell you from a lot of work today. It's an injection. That you put into your ear it's a standard. Done by doctor I done by doctor in any antes office they do this now for people they have sudden hearing loss. They go and yet a drug steroid in this case would be different right but the Jackson procedure. And then what you do is and then over the course of you know 306090 days the body will react favorably to that. And create a one shot you're done David are you don't know that we don't know that for sure thing but the early testing we're seeing with one shot we're seeing significant promise. Being able to restore hearing. And so looking at this one of the questions that I have is. We're talking predominately about hearing loss does this hold any problems for people who were born with out here. So great question so 90% of all hearing loss that that people experiences sensory related which means it's caused by founder. You know there's 10% that's genetic and a lot of those genetic art you know with young children experience yeah. That that would be a different solution that than what we would address that would be actually sort of problem monkey with the DNA if you well. Where exactly are you in the process right now as far as the development and potential release. It is typical withdrawal or would you co council authorized it to drug in its locally delivered and where we are as we have. Back in February got a front cover. Article to be. Publication. Scientific publication with all but. With most but not all of our preclinical data. So the scientific community is sort of peer review what we've done it didn't. It's been very supportive and and then working on a new paper that will come out with I think really. With is that will continue to do you know capture the imagination of of the scientific community. We're working hard we wanna get this you know I move this forward with and interacted with the FDA and had some you know favorable in Iraq and those are ongoing with a lot of respect for the FTA in their work there and you know really I think you're talking. Within the next you know. You know read a five years it you know to to try to really pushed to have something on the market. David I have no idea what this means but we're getting some Texan from our listeners on and asked her hopefully cancer. Is this something that would work with what's called collier implants I don't know what those are yet so there cochlear implants okay so okay so. It's it's a really good question to right now the F hearing loss and only a few solutions you can get hearing aid but remember the hearing it only works as well as the underlying biology. So your biology. Is not working well you could only amplify the sound. The cochlear implants are for folks that have really severe hearing lots and allows them to have sort of a lifeline to hear. But it's not as it's not as unfortunately not as effective as well it's normal here and it's still a little bit intrusive I know you guys won and you can you know he. He just like where. What about and we're question about tonight it's anything that can help with the treatment of that. It's you know tonight it's a tennis is huge problem. You know just as context it's one of the biggest if not the biggest benefit that the veterans administration pays out to billions of dollars accents. And you know it's believed that a lot of that has to do with hearing and hair cells. And so it something that will look for and in and hopefully we'll have an impact on but yeah we just have to get into humans and work on our testing to figure that out. Looking at your company right now are you looking to bring on any additional people at any point to continue the process either researchers. And scientists scientists anything we have a seventeen full time employees working for us and a lot of consultants. One or consultants was the former head of are indeed for Pfizer. We just in the press yesterday Jack thank god this a joint venture with MIT IQ what's the relationship with MIT if you if your laughter frequency therapeutics is its own corporation. We have our own set of investors that we've worldwide exclusive license with MIT and partners health. Who were the the licensees. You holders of the technology and looking at where you go from here obviously that there's still it seems like a a decent road in front of view before this becomes a publicly facing product. How soon if everything goes well do you expect that we could see these types treatments. You know the CEO you'll have an order managing expectations. If you do I I know you don't want answered that question up because you're raising money it will where we disclosed about thirty million dollars in financing and were were working hard or staying focused and you can listen after after we announced that the publication that came on February excel reports are literally at people find her office in Wilbur knocking our door and tell us that they wanna be in our clinical trial I got phone calls I got. Hundreds of emails from people and so this is a real problem that we're passionate about how is it raising money. You know raising money is you know it was dead there's a lot of it there's a lot of enthusiasm rule we're doing so big city for VC big city and a part of raising money is like you know dating or I guess getting married in what she's a good partner and an odd you know there's a lot of great investors out there that may not be the right Brittany out of that worked to find the ones that. Align well with your vision is not an arm. But what things do you look for when you walk you know if we always hear about that the process of raising money how do you try to make sure you get a good fit when you're looking for an investment part. You know I've worked on in the venture capital business for awhile at one of the one of the rules I learned is when he want money for VC. Asked for advice when when he vice ask for money. In itself. And so you know a lot of this is is you know because we started with this. No world class professor Bob lingered MIT he's got a lot of sort of the site was in the investment community and we've been able you know you know. Use that in in the number of my connections to really put together this is this your first rodeo you know sell company completed I started the company with doctor Langer back in about 2007 that we sold in 2012 to a Teleflex medical publicly traded medical device firm and it was. Technology that we re purpose from. The US navy's that was designed in from outside of submarine to stop. Marine life particles from attaching. And we applied to medical devices that can be produced by the body to stop bacteria fascinating blood from clotting beef sold back so that corrected on FDA approval on that product you're bored and start this basically. Much to my lately there's always definitely a you start up energy theory is that right there there's a degree of having get attention deficit disorder and an entrepreneur no question about it. Very general David we appreciate the time today thank you great show and of the program and I'm a big fan of leader bank by the way there today. David Lucchino he's the co-founder frequency therapeutics and don't forget folks if you are a business owner we'd love to talk to David was good enough to come in and share the story. Of his company frequency therapeutics I hope you'll do the same contact my producer. Tucker Silva at financial exchange dot com that's the financial exchange showed up I think that that's coming up we'll have trivia for you. We'll be talking about lift. You've got a barrier and strong next actual exchange. Shall look financial exchange radio network. 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I like us on FaceBook and follow us on Twitter that's TSE show. Breaking business news is always first right here on the financial exchange radio network. We learned this week that Stephen furst the actor who played flounder in animal house passed away at the age of 63 were asking trivia questions about. Animal house. Animal house was filmed at which real Life University. Our text number is 68681. Listener with correct answer win the 25 dollar gas card. Animal house the movie was filmed. At which real Life University. Are at let's talk about the most expensive zip codes in every state with a New England are broke our show is broadcast in all six New England states are thought we'd run through. The most expensive zip code now. I have I have not looked at this list yet deliberately. Elsie there's no Kris in this in this paper are so try to guess right let's go we'll start with Connecticut since that's. Connecticut I am going to go way if Westport Connecticut Greenwich confronted and 06830. Still this according to zones is our source that was the median home price there 1730000. Dollars in Greenwich Connecticut steep. Let's all the all the money that a lot of Robinette William O'Neill. Now let's go from Connecticut. To mean. Kennebunkport. Town of Oxford. So low median thanks stock value. Think the media know this and get that it would I just tell you kinetic it was a 1000007 via Oxford Maine 127000. Dollar wait what's that. Knoll. Now this tie game I'd I'd my I don't lie I was Kennebunkport not higher in some valuable real stay there must be. Massachusetts. The asthma and but it would take Weston. Very good. Come on 1560000. So that's almost as rich as Greenwich Connecticut won for three now that's not too bad I'm impressed I didn't I didn't get set against Wellesley. When I was playing OK how about New Hampshire is a tricky. Locations either to be something up in the lakes region or down on the seek I thought it was going to be Gilford new here Africa's unit glee you know Governors Island and I'll go North Hampton. Your car. Rye new hair hide in one town over ride new Hampshire at a town is gorgeous right is nice that places on the on the world. 7171000. I'm eating them yeah. And what do we have left you Rhode Island and we of Vermont we've played those two right yeah Rhode Island I'm gonna guess. We'll come. Her. And he just likes doing patent. Jamestown 604 out -- yet but you know eat your clothes and them in the right neck and what did your your forgetting the Delorean end of the I know. I don't is that we ethnic you know you need that. Almost exclusive high end. And then Vermont this this was a complete shock to me. That's what I don't don't feel bad about Bos eastern or western part of this. You can come. Back from. Charlotte Vermont no clue 496000. Dollars I think the big surprise there was me. May where is Oxford Oxford Maine 127. We is that an opponent up right now so Oxford is. In the and this is make any sense. It's west of listed just nicked the Waterford. Who don't know why that would be the the most expensive place I mean it's I guess a little north of Portland but. I don't know I guess those figures and something more on the water and a little further south but those. He verbeek talked many times about zero leader banks on line rent collection tool it's a product for landlords it's a great service. And it allows landlords to collect tenants rents electronically. Adds he rent dot net without the need to collect checks physically. Most landlords that I know use a local neighborhood bank to do their business and now leader bank is making this unique program available to those banks so they can offer to you the customer. If your landlord and are interested in having your bank acquired dizzy ray technology. Tell them the calls he raped the team at 8776917900. That's 8776917900. So in other words you might have a different bank. And they can use the zero technology zero dot net stop chasing down late payments and running to the bank to make your deposits get your bank. Add zero rent to its list of offerings visit here at dot dot net or call them at 8776917900. For more information that's 8776917900. Or visit them online Z rent dot net. Amazon. Could order growth hub for dessert after the whole foods mean course now. I I wonder about this the the the Amazon purchase of whole foods. Was frankly unexpected. And it was the biggest acquisition ever made by a factor fourteen the they're prior are. Prior to the whole foods chock they're the largest acquisition was 900 million dollars. Yet it they typically don't make big acquisitions probably if you're not familiar with them. They are aid delivery service that allows restaurants effectively outsource. Their deliveries so if if you want to order from a restaurant doesn't typically have its own delivery service grow above goes they have drivers that are employed Nagle and pick it up in charge usually about a five dollars. Now it's but they're getting a kiss from the restaurant to yet it did they do get typically at the somewhere around twenty to 25%. Of the tab from the restaurant as well see you're critical of that business I think that's a tremendous. Don't know it's a big like let's say like that you and your wife you've used this before. I used all the time OK I'd definitely won't now back here in the suburbs I don't know the margins fat up. That's that's my concern there well what's with the average spend and you anyway poured in. Thirty by 3040 bucks. Forty boxes that say that 25% they get ten dollars fifteen dollars there so if it takes the guy an hour to do that. But can't it's got to be more efficient no I mean like I've had times where like a lot of times they say that there's like 45 minute to an hour delay so if he's making multiple deliveries. If the same time grub helps the weight room where he might but he might opulence and mortar and a quiet time let's say it's 11 PM on Thursday you know and I'm ordering Domino's because the only thing open. He's there might only be one order so. I I wore a little bit about the margins on that business is when you factor in the cost through labor the insurance cost solid you know than your back in the you have to support. I just don't know if it's a great business in the long run and I know couple companies in that space have gone out of business that's my dad uses in reits. Does he loves. I think it's it's a fusion vague standard hotel that. The day he didn't have good. Who deliberate and he ordered to brief sell it at the hotel told them it is not downloaded the app. And I guess on who greets it in leaks right up to the restaurant's menu yet have you tried it. I I've I've used yeah I mean it's it they're great platforms like this I use them all the time because again you go when you just pick exactly what you want you can even specify hey no one in on this extra pickles whenever you want. I just wonder about the missed businesses. You think this is the type of business so I don't see Amazon doing the side I'd say. Amazon I would think I think there was certainly to already. You think they're buying growth don't know what the that they they already are running a business that's competing with the right how much is Grupo zone or about four billion dollars 47 dollars a share and I don't know if there was a need to pay for I I tend to root out I don't know if they need to. Bart police for former top executives use them creative methods to keep the bank afloat turns out they were illegal. Yet does turn out that these were some illegal tactics here and so forth these executives are charged with fraud. Over fundraising with qatari investors. And pretty much what happened is. That a lot of these these that they collected ward disclosed. To shareholders Barkley said of violence that pay 322. Million pounds in advisory services to qatari investors. And then in turn they provided a three billion dollar loan facility and the money was used to buy back stock and yeah so it's illegal it's you you just can't do that generally goes to jail with summit this they are saying that there are some criminal charges but it remains to be seen whether anyone serves any time now in the end he's heard guys are probably gone with. My favorite part of this is that it's being investigated by the UK's serious fraud office which raises the question is there a non serious and Salinas and the silly for is their goofy fraud do goofy fraud that silly fraud their nonsensical fraud and bad and good experience fraud and its product. That is right this serious fraud office it's I just enjoy and he's like the one night I walked the brits in the sense of humor. Charlie Baker is no longer a Biotech hold out you know Ali died Deval Patrick was one that started CD catering to the Biotech industry. And he took some heat from it. But it. Boys the darned successful yet and the Deval Patrick administration had made about a billion dollars worth of tax grant grants and tax breaks over the last decade and baker. McNealy is about half way yep baker it kinda said look I'm not really willing to commit yet but it appears that he is presenting a 500 million dollar plan. To try to spur additional Biotech investment. Frankly I think it's a good idea these the kinds of jobs there high paying the Smart people in them and they've really been something that has been a unique. Growth engine in the New England in the Boston area how conservative would say eighty you don't need to do that the the free market will dude itself. All all I know is that there's a reason why Boston is the hub for Biotech booming and it's because there was so much money that was spent there it is this the kind of thing it pays dividends. Along well and and it was a Smart move because. It wasn't forced in the sense that we already had the education system yet you know it's. It used you look at Biotech and the Buick thing I wishes maybe needs with the money and done more for technology. You know because yeah it we're we're not as much we have a lot of technical like drafting is a tech company. It'd be nice to have more tech companies don't have the movers and twitters coming out of here today they have off the higher once they expand I know we don't they're not. Put up born here now aboard here yeah that's where the real wealth comes from that's right San Francisco's go play the housing markets and audio there. Our eight coming up will be joined by Marshall Allen from probe Republica. Talking about a specialty pill. That sounds like a rip off. They I I read this article this morning and it's a little bit disturbing and the only reason you should be concerned about it is you're the one paying for this rip off that's next 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 with a battery in shock on the financial exchange radio network. If you're real estate or property management company you -- -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative to see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies to leader bank as they're banking partner call 8776917. -- 900 or email BDO at liter -- dot com for more information member FDIC equal housing -- If you Google asset protection planning to get more than six million results are you supposed to make sense of all that information the answer. Is he shouldn't what do you need to do was called Cushing in Dolan the experts know their luck they've written a brand new guide top misconceptions about Medicaid or read a couple trust this guy details thirty of the most common misconceptions about using irrevocable trust to protect your assets did your free guide by calling 8668485699. Think you have to ask permission from your kids to use your own money not a chance that you're going to have to pay higher taxes if you wanna make your assets and available for nursing home costs absolutely not. There are a lot of so called experts out there but take my word for it and get some information from a law firm that has been helping families like yours for nearly thirty years call for your free guide today at 8668485699. That's 8668485699. You can also download it right now on our website had legal exchange showed dot com that's legal exchange showed dot com. Hi this is very Armstrong many of my clients are retired or are planning for retirement and if you're like them annuities may be an important piece of your financial strategies annuities can offered guaranteed income for life but there are risks associated with every purchase some annuities have high fees. While others take control of your money. If you're considering buying an annuity call me right now and get my free guide the truth about annuities learned about the pros and cons and educate yourself about these products before you make your decision call 803934001. That's 803934001. Or you can download the guide right now at our website financial exchange showed dot com. Security suffered through securities America incorporated member -- SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer 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 -- 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 go to all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match -- 8449. -- nine match insure a match works with the leading carriers in the industry like -- -- 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 84499. Match or go online and ensure a match dot com. Security suffered through securities America and member finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Barry Armstrong. Showed son breaking business news every day right here on the financial exchange radio network. Animal house was filmed at the University of Oregon in Eugene or. The winner on this question was mark from Chatham market taking home 25 dollar gas card speedway. And our trivia contest is brought to you. By the law firm of Cushing and dole in the experts and elder law if you have questions about your existing estate plan. Or you need advice on creating a trust to protect your assets from probate. This Cushing and old today at legal exchange show dot com right we're joined now by Marshall Allen form pro Republica. He joins us to talk about drugs and Marshall are you. Say good morning billion chuck thanks for having me on the day. Glad to tell us a story you recently hurt your shoulder. And the doctor prescribed. A drug for you after you injured yourself. Yes I'm an investigative. Order apple public and we. You have covered health care about ten years and I'm always a little bit curious when I go to the doctor in this case I had AM. Shoulder injury and so at the end of my visit my doctor. Stepped out of the camera and they gave me. A couple sample bottles and pills or drug called demo. And that mogul is what they call a combination drug what the drug company has done its horizon are about the drug company. Equate that to achieve over the counter medicines. Leave and Acxiom and they combine them into one bill what they called the Mobo and they call that now specialty brand name bill and then they can charge a lot more money without specialty brand name drug how much more. Well I mean you went two year drug stores but believe an axiom for about a month you could. By that about forty dollars they try to charge Blanchard and company about 3200 dollars. Over a bottle of drugs well I that's saying. Witness this incredible mark is this pretty common in the drug in the health care industry. You know it. It's really common drug companies to you charge. Obscene prices for drugs I mean the way. These prices are is not regulated by the FDA and so they can kind of do what the market bears you know now just because they charge that much does not mean that they get that much because there are so many different contracts and rebates. Involved in this process it's a very complex. That a Marshall and why wouldn't let why wouldn't the insurance company scream bloody murder but still they have I don't want to this. In this case my insurance company did reject it but what happened is. You know that was something that they introduced back in 2012. And in 2013 1415 and sixteen they may have a lot of money into it they've brought in more than 455. Million dollars. Should we using. This expensive brand name drugs and 99%. Profit margins. Well you know hard to know exactly what they abroad and tie he's eloquent dale. And and there are probably rebate and there but it's really hard to know but yet the huge profit margin. And you know there were investors are very happy now important not kidding. Yeah into it and you sit there investor report you know for only fifteen and sixteen I mean you know are very very congratulatory. And we need killing league history the insurance company yeah I and the big thing is they value in the investment report. You know exactly how they did that I accountable interest in looking at the strategy. But they employed a one of the things they told me when they gave me the drug is they said don't worry mr. Allen. This drug is gonna cost you any more than ten dollars out of pocket and so you know I'm like now it psychic anything or whatever document get in the right. Then they had run through and that's because the drug company is covering your out of pocket costs. But there are subsidizing it yeah that the anything that incentivized to fill a prescription. Then what they also do is they run it through a mail order pharmacy nine your local pharmacy. And that way the drug automatically get sent to you you don't actually have to go down to the pharmacy until the prescription. Assume that another way that they've sort of moved out some of the other check in the system that I have caught this. Suharto. Who rejected the remarks on the docks in on the scheme. So in some cases. You know I'm sure they are mean in in my case my doctor he does not get money from rise and Barbara and I did cockpit and about though it might follow up visit him. We have we have a little bit of an awkward conversation because you know at the moment journalist working on a story about this and and you're going to be named in my story and you explain to me that. His main concern is. That his patients don't have to spend a lot of money out of pocket and he said even if he had them go. By the over the outer and don't count the more. And it cost the out of pocket to get the memo now when I told him how much it cost and what they charged my insurance company. It that he didn't realize that the cops that high but you know he wouldn't say he was gonna stop prescribing it but look at the end of the day got the look out the out of pocket costs by patients. The IE the A I was just curious if the doctor yet Nike kickback or something doesn't sound like. You know in some cases. You know drug drug companies are very know well known to give. Doctors speaker fees are you provide meals or other guests in the senator kit so I don't think the factor of my doctor. Very good Marshall thanks for your first time in great research on the story much appreciated thank you Robert Marshall Allen from Republica joining us today. Whisking him. We talk a lot about why the cost of health care continues to go wobbly that's one reason and there's one of the reasons is we're not addressing cost we're addressing covered with everything we're trying to do in congress in the insurance companies to a large degree truck they don't care that much because they're attitude news they're just gonna go back to the state prison in a pass under the insured we're gonna raise rates now there's only catch onto it. That's that's all they're gonna do and and this is part of the reason we know again we're not doing anything to deal with cost in this is a key examples. Tucker you might wanna post that article on our FaceBook page if it's not too much trouble it a worthwhile. Yet what the Dow is down thirteen points oil's trading at 4384. The NASDAQ up. 32 points and the S&P is up half a point. When thank you all for tuning in today don't forget to check out our web site financial exchange showed dot com lots of updates there. Tucker Silva talks not a very Armstrong signing off from our insurer match dot com yeah.