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Full Show 1-12-18

Jan 18, 2018|

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This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day your city your world stay informed and up today about economic and market trends plus give breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck soda. It's Friday here on the financial exchange and we are need deep neck deep maybe even an earnings season at this point. As we start to get a lot of the big financial companies reporting but a whole bunch of news everything from mom Wal-Mart we're going to be talking about today. We've got news on FaceBook we've got banks. We've got just about everything to get through so we're gonna cut to chase. And get restarted trucks out of Michael Armstrong talk for Silva all here today Barry Armstrong off making it a four day weekend is that we were were. We're off on Monday yeah markets closed door closed workload that's how we do and so. Let's get right into it Mike let's start with Wal-Mart a couple pieces of news coming out from the yesterday first bumping up their minimum wage to. Eleven dollars now yeah they are the next I you know around of companies that have announced that they are changing compensation for employees because of the tax reform bill. And you know Wal-Mart significant right because there the single largest private employer in this country. So they are moving minimum wage up to their company from nine to eleven dollars because this and they're off also going to be doing some bonuses for employees that have been there for certain periods of time. And they had moved wages up to nine dollars I believe was two years ago initially. And so now this move effectively equating to it somewhere around 20% raise for people at the bottom end of the spectrum there. In a lot of parts of the country though especially you talk about you know the coasts. Eleven bucks now we're still isn't enough. To live like you can't live on eleven dollars an hour inside 120 you can't live on eleven dollars an hour. If you are in Hartford it's it's very difficult to do that get in though in those areas well. And that you know even this race probably isn't going to change the fact that a lot of you know Wal-Mart employees are on food assistance are on you know different federal programs that allow them to earn you know effectively you know. Dampened the impact of the lower wage. Probably reduces the number a little bit in turn out just just the amount of people received so you know the net impact of this is you say okay gee that's money that you can then spend. On other programs or do you spend somewhere else in the budget. You know looking at this we have any idea how and what percentage of Wal-Mart workers make the minimum. You know I didn't see that in there I don't I don't know that Dow Wal-Mart fully discloses that I mean I would think a lot these they've got a very high turnover rate you know Wal-Mart employees are not typically there for the ones that are making minimum wage are not totally there for nine years. They're typically in a now to. Not typically but oftentimes in and out and the is a lot of them on the minimum wage spectrum so I think this would be a pretty big and. In this just shows that you know we've we've seen banks that have raised wage we've seen airlines that have given bonuses we've seen construction companies that have given bonuses. Across the spectrum. There's wage pressure. And I think if you wanna take a critical view here at the pessimistic view and say well they're gonna have to do something like this anyway. But Atlantic optimistic view. I don't care how it's done now it's happening. It's whether it happened because of tax reform whether happen because the economy's doing well I don't care. As long as they're raising wages that's a bit you have more money going into people's pockets right and EU can take any views that you want but the fact is. People are going to have more money in their pockets to spend today than they did before this announcement. And as a good thing okay. Now you and I both know. That the war can turn outs and two years now of the economy takes a dip and we're sitting here in Wal-Mart says gee you know we kind of have to cut wage and lay people off. We know that that's the other end the point. We know that it is up but the nice thing here is you very rarely see companies lower wages right you know you you can see them do massive layoffs but. Wal-Mart in the future we'll have a very new very double time ever going back to their new start and poisons and actually you're going to be hearing. That it very unlikely. So you know I think overall good news although you know they paired it with you know news also came out there will be closing 10% of their Sam's Club stores annihilated it and let's talk a little bit about that it is Wal-Mart is closing. A little bit more than 6063. Actually of their Sam's Club locations. And if your interest in on how this is going to affect the New England region. There are four stores in New England that are going to be closing as a result of this one in Seabrook New Hampshire. One in Worcester Massachusetts. What in Manchester Connecticut. And when an orange Connecticut so four out of the sixty stores. Are in the New England region the biggest area where we're seeing touches in the midwest there's I think 125 these are happening in Indiana. Illinois. Wisconsin. And Minnesota. So the ball is happening you're kind of right there but for stores in the New England region that are going to be closing down result. Yeah I don't know how many average employees they have for well actually ever sent from the 160 employees you know that's pretty significant I don't know what the net impact is going to be okay you'd given you know thousands of employees at two dollar raise vs your laying off. You know some 101000 jobs ever been to a sample I I have not I've I've shot the BJ's after the Costa it never count stands Tucker. Sam's Club no I mean Seymour and I don't think there's that big appeal to me that now they sit there 660 locations I have a feeling most homered in the midwest and in the south yet that could be mean and 660 locations is not all that many how many Costco and BJ's occasion I mean about BJ's more regional so I don't know if that really counts yeah BJ's more regional cost go taking a quick look at the magic that is we competed customs only get 741 really to not that many more around. You know well I mean it must be fairly popular they had 660 stores that's pretty significant from what I conceived and yours Sam's Club is the worst year. And that was announced closing. Already got one of these that's one of the 10% that's closing from. Yeah I I don't know I've I've never been in one. I don't know that this has always blame the sense again it is they have a slightly lower price and slid lower quality than what you get at Costco is cup custer's pretty high quality stuff. In local Costco is he's he's has some really good stuff there I get the sense that Sam cook doesn't quite target the same customer cut. But I've never been in one this does lead us to our poll question of the day and this is up right now on financial exchange showed dot com. Is Wal-Mart too late to compete with Amazon and you know it's it's a question that we've talked about an awful lot on this show. I always say in the text field it's never too late but you just do have to move your feet a little bit more quickly. But is is to wait for Wal-Mart to compete with the Amazon's a head over to financial exchange showed dot com. In vote in that poll question. Today will keep you updated as we get responses Ian. Some big news coming out of FaceBook they are overhauling their news feed like. They are so they're basically saying here we are going to start stressing a lot more on. You know individual content rather than company sponsored content so you know if you are posting something on your own FaceBook feed it sparks a big debate in the comments section FaceBook wants to make sure that type of content is really being pushed in really being highlighted. Verses you know corporate sponsored content is going to be how a little bit less and markets so far today don't seem to be too happy about this. I'm gonna take you contrary view this to the market then so the market is saying OK you're going to be showing less ads in less corporate promotion. In news beats. What I look at this and say is. You're decrease in the amount of real estate you have available. That's going to intern drive up the value of the real state that's out there and make it more valuable. I think FaceBook is doing this what they might have trouble selling out I don't know maybe that's what they're you kind of admitting at the same time a bit. But I look at this and say hey there's less real estate out there that real estate is going to be more value. Yeah yeah I mean I would think part of this decision at les well one they're they're you know they're under a lot of pressure for the people saying hey you know that type of sponsored content your putting in there and we are the ads are popping up companies are very comfortable you know it is. If they're they're ads are ranked behind like a video that they're really not comp. What yet strangely all these you know times things where it's like there's you know a story about the GM ignition switch situation and it's paid by by you know Chevy truck ran city to elect a hey what is going on yeah so that's definitely an issue but I would imagine faced is also facing another issue where I mean when I log into my FaceBook feed its. All of a lot of that I mean it's all well company sponsored contest. And they're probably losing some news or at least losing log in people's how offices in the saints who have volume base look at this point actually pretty frequently still yeah I'm pretty frequent as well I'm not I'm not not a lot of poster I'm I'm I'm a consumers and I'm thinking outpost things but among there. I would say at least once today I'm not a poster. Woods was molested me interview posted something on going back just try to find mine now. Trees must amongst the size beached like sharing you know a news article or you know our our FaceBook live stream for the show. I don't really post at all. I do that children and that's the evaluate when it goes well I mean listen photos most of my friends are like family members grandparents and cousins so there. And okay the last the last time I made a post was when I got married others don't so congrats over and over here gotta yeah I handed over a year or so there Yelp. But I look at this I say okay Facebook's decrease in the amount of roasting your hate they might be able to get more for that real estate. They might create accounts at the end of the day it's how much to the decrease the real estate and how much of the price go up some pretty simple math equation of the set CO phased out right now investors are not betting on the stocks down will be over 4% so far this morning we're gonna take a break when we come back talking about drafting is planned to hire hundreds of new people. And where those jobs are going to be that's coming up right after this break on the financial exchange radio network. Markets are high. But questions remain about whether or correction is coming. We've got you covered every day with what's not and what's not from Michael Armstrong morning's in 1030 only on the financial exchange radio network. As we age long term care is something to make sure you plan for how quickly -- your assets be depleted if you had to write checks to the tune of 141000. Dollars every month according to -- the average cost of a private room at a nursing home in New England is 126000. Dollars per year and an average cost is expected to increase to 169000. By the year 20/20 six if you or a loved one are faced with an unexpected nursing home study and you haven't done your planning yet before you write that check picked up the phone and call the experts at Cushing and -- at 8668485699. Cushing and Dolan has been helping families just like yours protect their assets for more than thirty years and they put together in new guides for this month told claiming for procrastinators. -- are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed dot com. The calendar has turned and a new year is here it's time for us to reflect back on the year that was in the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial well being and your investment strategy as we head into twenty team the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 holds a great deal of promise and -- a brand new guide that will help you look back on the successes we've experienced and the failure that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Dirty suffered two securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state are are strong here. I'm joined by estate planning attorney Todd what's key from law firm of Cushing and dole were talking about last minute planning techniques can help save your assets and you know in the past Todd we've talked about married couples. What does somebody do that single or widowed or divorced. And they have assets and they may have children amen I have nieces and nephews and hip favorite charities that it would they wanna leave their much. But the get sick at their nursing home in the bills accompany him. And you know this is why we stress us all much to folks to families that that when they're in this situation. Don't just write the check. And think there's nothing can be done I know you think in the five year rule and all that stuff you don't have to do. Seek out you know an elder law attorney and and find out what can be done in this case. I would probably say. House non accountable. If I check a box and you intend to return home a little lean on it but it's not accountable so that's good but it's the money that Horry. So they've got money that what you need to do is you either can do and other annuity. An annuity is a technique that logic to buying annuity and have money pay out as an income stream. You're with the institutional and lose tool yet you lose the income stream while you're in the nurse yes that income does go to the nursing home. But they're on Medicaid instead of on private pay what you can look at these pooled trust it might be really old and if you're like in your late 80s90s annuities aren't gonna work rate so that you need to go to this pooled trust idea. Put money in the air. And still get on Medicaid as well but they'll have a payback provision but at least two beyond that even single people can protect their assets last minute how do you do so well he call Cushing in dole and an 8668485699. And you request their guide last minute planning techniques that can help seed your assets if you want to guide right now simply go to legal exchange showed dot com and it's legal exchange showed dot com or call them all free at 8668485699. Security suffered through securities America income members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchange for Barry and judges live on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. This segment of the financial exchanges brought to you by leader bank if you're looking to diversify your portfolio. Precious metals are Smart investment in gold and silver bullion coins now available at hole leader bank locations call 877691. 7900. Or. Log on to leader bank dot com for more information amber FDIC. So after a couple tough years Mike draft kings is saying it we're going to do was start hiring a couple hundred more people. And we're moving our ops is backed by yes that a returner and they've they've been under regulatory scrutiny for years now. I don't know what it really did impact their user base but yet they also tried to merge with. Vandal scandal and that that kind of got kicked and the curb that is really the only two players in the game. But yeah they're moving moving some seven back pay hiring 300 new people. And I I don't use the stuff I know both of you guys do what's your take on. One vs the other Ngo what they've done the last few years Tucker how often you play in these days. Per week and you were definitely. That you would do whatever we can use this season from the football season again I'd simply ones I kinda I kinda lost the blog it was just like. And they give you that that being said might might lie in as a player I really like. Went down like there's there's like quarter contests just play play it hasn't lost only money yeah I get tired of losing so as digital I'm gonna deposit X amount and is there right now and they share accounts though. It and I can't show was like drafting the pause for fifty dollars at the daily news I. OK well maybe just one game this will be the one that turns around he what's this PayPal deposit again but this consecutive with and can I give you piece of advice or excuse ever if you're into Las Vegas already never go again what happens don't go credit credit cards separate account plus. They would be separate accounts but drafting Gannett 600 people in Boston so. I thought that there was drop off maybe just my own. View I but I'd I guess there is doing well where they right now there there idling right now. The very end once they're down. This seaport or maybe down the financial districts that ballpark so it just movement on the street then. Yet they're moving like a mile down the street com date they just need a little bit more space it sounds like and some other good news for the Boston Real Estate market Phillips is moving their company headquarters. To Cambridge from Andover Yasser they've got a few thousand employees that they removed and 2000. Big big health care company. And we put these companies anymore. There's wearing 'cause there's every down de Kendall Square area I have not just like every it's it's like this seaport there's a new building going up there every month. It's just. It just continues to chug along the the biggest problem there right now is traffic. He's got these narrow two lane roads at least the seaport you know they they don't have any mass transit but at least there was nothing there are so they said okay we're gonna be you know bill lives rose so you can kind of get where you're going. Kendall Square now I've had situations where to go a mile there at rush hour. It'll take you forty minutes but you've got the Red Line right there at least you get good like you said you've got good public transit yes. You certainly do but you know. This this move here obviously you know it's it's it's in state so it's not a huge move from a geographic perspective but. It does kind of reflect hey we wanna be close in the city because we wanna keep young talent there etc. assays yet I mean you're an end over here trying to attract young health care engineers and sales people guess what you're gonna have a tough time to an open hand over. I I find it's so interesting that in a world where it is easier to work remotely and from distant locations. Every business never persons having port cities yet. Like that that is the trend that you're seeing it's UAE utopia we move now to the suburbs and Alec. Why while I would do that and so it. You know I'm moving at this hours ago like you get adults yet eclectic I know welcome to the party. Dropbox file for an IPO. Yes so wide anyway it would not matter drop box there filings file sharing companies start up mainly you know retail customers but obviously you know it's an online file storage company and you can share files with others. It used to be I think it was very popular in the you know the retail consumer space if you want to share pictures or whatever might be. I remember using Dropbox significantly but I can't remember the last time I've seen anyone tried to share a file with me via drop talk with people use instead. I think now that Google in the iphones really have very easy access like a local drive you'll drive India if I want to share photos on the easiest way to act and thing of doing is doing a Google photos sharing application of Lincoln had together and it's. Just quick and easy and allowed people party haven't added on to their phone where's the drop boxes separate application. And it seems like Dropbox is kind of limited along with that stick up we are no longer going to be quite as focused on the consumer. We think there's a bigger opportunity for us to make money from businesses because we can offer them security privacy you know all the things that businesses want whereas. Eight as you said Google and apple and companies like that. They kind did do that from a from a personal perspective yet a majority so lined up with the applications you know it's our efforts preloaded on your phone which when he and use I -- part of me looks at this and says. If Google wanted to. They could squash these guys like a blog but they're happy infrastructure in place they've got everything there in in a look at and I say. You know. Yet Dropbox greater worth ten billion dollars they were worth trying to you know ten billion dollars and a good Google could spend that that day and say OK am gonna squash you like the little cockroach you more like it's just. That's just. I attend I don't view this is dependable business. I send you agree with you I don't know what competitive advantage they have other than existing client base and we can see how quickly that no way because they were the leader. In consumer. Do you know sharing and that's that's pretty much dried up now and now you're focusing on business which is lower profit margins this this. IPO worries me. It makes me nervous because again they they had a business. And they had to pivot because everyone else cannon and took it over so I look at and I say. That that one is one that makes like. We're talking last week about the Spotify IPO and I said hey like this one likely they've proven they're the leader that squashed all competition around them. Apple can't beat them who can't beat the Amazon can't. OK I believe and this when I look at and I say. Your candidate an edge let's let's be careful on this one so it would be one of the biggest tech IPOs were seen in years. Yes if it would it would be a big one I just I. This this is one that I again necessarily good understand don't just I don't have the best feeling on this one GM making some moves in unveiling a full autonomy is electric vehicle. That does not have a steering wheel as. I was there is the hell out of me no steering do little paddles. Know now that those critical from the inside looks like no back up plan Tucker I mean exactly design there's nothing you can do it's green CI yeah that's act and you have some sort of peace of mind decides screaming to my death. So it's like the cars caught the crews I think it's soccer do you ever hop into a plane and say. Oh like it's he wouldn't like. You know for Nancy the joys their alma gonna land this or are you one of those people just doesn't like flying to begin fifth I mean I don't mind flying but I notice though. A highly trained pilot in the cockpit taking means there but in a self driving car no steering well what am the only person and it. Now I'm out bird for your information go ask a pie a commercial pilot all I know what percentage of the time he's controlling that. Join MI thought Tucker doesn't wanna control he just wants to do that at hand if he had right. Yeah exactly in my buddy's bodies at all for the most part I mean he does he does take some of the no steering wheels kind of the the entry I'm out. And what does the other have wondered if this is something where you just need debt steering wheel in there. The nose or did I wondered. Here's here's a prediction what if you end up seeing cars happy steering wheel and there it has no functionality. Just to make people feel is poised just make people feel like at this car's voice. And that's something to think about. We're gonna take quick break when we come back really dig into Wall Street watch on the biggest movers and shakers today on the financial exchange radio network. Life goes on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. 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Hi this is Barry Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should tuck we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention that your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934001. Or you can connect with me online at Armstrong advisory dot com. 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Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. As we age long term care is something to make sure you claimed for how quickly we your assets be depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and an average cost is expected to increase to 169000. By the year 20/20 six. If you or a loved one are faced with an unexpected nursing home study and you haven't done your claiming yet before you write that check picked up the phone and call the experts at Cushing and Dolan at 8668485699. Cushing and Dolan has been helping families just like yours protect their assets for more than thirty years and they put together in new guide for this month called claiming for procrastinators. It'll are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed John John. 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To 900 or email -- BO at leader bank dot com for more information member FDIC equal housing lender. Time now for Wall Street watch a look at the market's performance so far today until Darian jug right here on the financial exchange radio network. We'll get the top movers in the market today and Michael looks like we're talking about black rock here. Guess so black rock had kind of a blowout quarter and quite a year as well they just they reported quarterly profit of six dollars 24 cents per share which beat estimates of six dollars and two cents. Their revenue beat forecasts and the company brought in record inflows for 2017 of 367. Billion dollars in now managed. A total of six trillion dollars plus does the owner of iShares for anyone not familiar with black rock themselves they are not shares ETFs. Pretty pretty outstanding year they increased their dividend by about 15%. Stock is up about fifteen dollars and three sensor just under 3%. Are good that is Wall Street watching Mike let's move on to talk a little bit about some more good news in the auto sector for US auto workers. Fiat Chrysler moved some truck production to Michigan from Mexico. Yeah and at least the comments out of Fiat Chrysler seemed to be very much. Hey we don't know what's going on NAFTA so we wanna play it safe here and we're gonna bring this production back to United States so. It paying out some bonuses as well they're going to be gather paying a 2000 dollar bonuses to 60000 dollars to 60000 employees and yeah a lot of new manufacturing jobs and their trucks come back the United States. And you look at this these jobs are going to be coming back in 20/20 so it's not something today right but still you have an auto maker committing and saying. It worked we're gonna bring these these jobs back into the US here. And so if you are someone in that sector. It's obviously good news that the question that I have is we've seen in the last year the number of open manufacturing jobs is this is according to the bureau for labor statistics. Is gone for about 300000 up to about 420000. Lot of open manufacturing jobs are open manufacturing jobs that are being field gap. Two things have to happen in order fill those jobs pay Americans have to get the skills to be I think a lot of kids. Simply don't pick those skills up you know in big companies are going to have to pay higher wages to attract people into those industries again so. From my perspective. You know it's it's great that you're seeing these jobs coming back but. I think they're gonna have to be higher paying in order to attract people and that's where I think the real good news is that you're gonna have to see wages go up. Yeah well I mean eating you talk about these different manufacturing jobs all over the place have been eliminated over the years it just requires you know it requires job training which we have a federal program for a don't know how the funding is but you know it'd take carrier for instance right you just had to lay out the final layoffs of those several hundred employees in Indianapolis and yeah you know if you're growing these manufacturing jobs there's a lot of retrain and that's the problem here is it's not cheap to retrain somebody. On how to do a completely different manufacturing job. Stick a quick look at oil here we've been talking about an awful lot over the last week largely because we reached levels that we hadn't seen about three and a half years oil the other west Texas intermediate. Had gotten up pretty close to what 64 dollars a barrel. Brent crude had gone over seventy for the first time since December of 2014. A little bit of a sell off happening and oil here today. Largely I think just because you don't necessarily have the BO did. The same global supply cuts in parts the world that you had previously demand is still strong them. It's still strong I think I'm very anxious to see what happens to oil prices of the next few years present I think that. Perhaps the global economy is not quite prepared for. The slowdown that China's like the CEO of the next few years and their demand for things like oil things like steel as they develop into a new type of economy I am not sure that's ruling being factored into prices and things like the price of oil. That's me very very intriguing to see you the next few years. Yeah I mean one of the things you have to factor in his China is obviously. Making a big move towards electric vehicles and things like that and that's just because they have. They lack of ability to breathe and a lot of it has a huge pollution you know if if you try to like running in these cities you pretty much fall over yeah and soon China India making some moves on that front so it will be interesting because. The oil is the most important commodity in the world. It has been the most important commodity in the world for the last 12540. Years somewhere in that ballpark. We're getting to the point now where it's not gonna change overnight. But the transition is gonna happen in the next thirty years to where oil will still have an important role but it won't be the commodity that we all want. Right I don't well it might still be but it can be a lot less of an impact on the overall the overall in the economy in the world the world of commodities just very different scenario a quick word from the United States Virgin Islands economic development authority if you're a hard worker to create a successful business. We've got a message for you that can help that business thrive and grow that this is Mike Armstrong on behalf of the US burden on economic development authority. We all know how devastating this past hurricane season was the islands are already on the way backing authorities' economic development commission. Offers a tax incentive program for companies located in the United States version rounds. Tom at a competitive offshore tax benefit program that is sanctioned by the US government allows your business to lower its corporate tax burden. By 90%. Many US businesses are already taking advantage of the tremendous program if you're a business owner looking for tax breaks talk to the folks at the US VI economic development authority. Log onto their website at. US. They. Yeah nine US VI dot org for all the information that US VI dot org. Let's talk a little bit about. SpaceX. Now OK and you know SpaceX obviously. Had a record year in 27 team they they launched eighteen different missions now which was the highest number they've they the they've ever launched. They're aiming to launch north of twenty missions this year. But it's. NASA coming out and saying we've got some safety concerns about these vehicles just making sure that they're able to perform the way that they need to. Yeah I mean it's it's a obviously huge concern we are talking about taking an industry that has never been privatized. And putting it in the private companies hands obviously there's days that pretty big learning curve. The they put out a statistical and this this is kind of shocking to see on paper but the NASA had a stipulation that. When they test all this stuff there can be no more possibility than one fatal accident for 270 flights that which. I guess that's a pretty minute statistic but and you think tired than you think like you write 270 flights is not meant. Boy it's it just shows you lake the the the stresses that you under go. When you launch a rocket yep pretty significant that if it's not like you're just hopping a plane has again remember we've not had a US commercial aviation gas. In like eight years. Okay there's there's literally no safer place that you can be on this world and in a plane. Which is weird okay you're you're more likely to buy a bus crossed the street and be in a plane crash. With spacecraft. Are you talking about it celebrating something like 30000 miles an hour when it's all said and like. You're not messed around there and so you still have problems. With you know whether it's you know Spacek had a rocket last year that blew up on the launch pad that another one that shut down India. The question becomes. You know how do you continue to build the safety that you need because if you want this to become something that is more normal safety still. Asked to be there yet I mean yes you heard that you are dealing with a whole different multitude of factors when you're trying to launch somebody in space. And it needs take time but it continues to get delayed here Andy got to wonder for a company like you know Boeing. They've got a completely different business here and if this doesn't work out in the short term. I think investors will give them some some were some wiggle room where SpaceX a you got one goal here right and get people into space and if you keep delaying. There might come a time where peoples are wondering what's going on here. Let's take a quick break when we come back Larry Kudlow from CNBC is gonna join us right here on the financial exchange radio network. The financial exchanges all over knowingly and go to financial exchange of dotcom and search for the station closest view this as the financial exchange radio network. The calendar has turned and a new year is here it's time for us to reflect back on the year that was and the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial wellbeing and your investment strategy as we head into 2018 the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 holds a great deal of promise and Everett a brand new guide that will help you look back on the successes we've experienced and the failures that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Dirty suffered two securities America incorporated member finreg SIPC advisory services are pretty securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. As we age long term care is something to make sure you -- for how quickly -- your assets be depleted if you had to write checks to the tune of 141000. Dollars every month according to -- the average cost of a private room at a nursing home in New England is 126000. Dollars per year and -- average cost is expected to increase to 169000. By the year 20/20 six if you or a loved one are faced with an unexpected nursing home study and you haven't done your claiming yet before you write that check picked up the phone and call the experts at Cushing and Dolan at 8668485699. Cushing and Dolan has been helping families just like yours protect their assets for more than thirty years and they put together in new guide for this month told claiming for procrastinators. -- are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed John John. Hi this is chuck and Mike here from the financial exchange and as we head into 2018. Micah wanna talk about one of the key themes 2017 is that we're in that was the disruption by technology companies. What a major industries. Yeah it's true you know we talk about the Amazon effect it's not the only one it certainly it was a huge elephant in the room so if you take a look at. You know at their activity and twice seventeen alone you saw the large purchase of whole foods markets which was you know a very very big disruption to that overall grocery industry. Obviously Amazon and a lot of tech companies they've disrupted retail at this point but now we start hearing about other sectors that are potentially in the firing line so to speak next year healthcare travel all kinds of areas that potential higher risk yeah I mean you really do need to keep an eye on the Amazon effect we talked about retail obviously a Toys 'R' Us is in bankruptcy proceedings Sears JC Penney Macy's all really struggling to keep up and now you -- right gathers rumors that there were flying around -- on my interest in getting into the pharmaceutical delivered business which who knows how to make an impact that's sort of industries so you gotta keep an eye on it you always got to be wondering about what is the Amazon effect what is the Google effect and how are they going to change the investment landscape for 2018 and beyond folks 2017. Obviously was a great year in the markets but you do need to be prepared for what's coming next and so Armstrong advisory group was put together this great guide titled when he eighteen the year ahead it is free to get in all you have to do. Is call 800. 393. 4001. Or go to Armstrong advisory group dot com to download again 80393. 4001. Or Armstrong advisory group dot com. Security suffers through securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities American companies are on the affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. They say video pads ten pounds. But don't tell Berrian judge in the financial exchanges alive every day on FaceBook and YouTube this is the financial exchange radio network. Joining us now on the line as he does every Friday is senior contributor to CNBC Larry Kudlow and Larry thank you for joining us. Grave we've we've got we've got you know there are no problem at all. I know the economy's booming it is looking at all the good news out there are sought out Miami. They did do that from time to time let's. Let's talk about where we are right now and how long this boom can can last obviously everyone's excited about tax reform businesses are talking about spending money. How long do you anticipate. That the boom from tax reform can go. But the bump and tax reform. You know talked about things. Go quite a while. I mean certainly profit. Will be helped by this. And investment demand you know capex investment demand which is already rising quite a bit. Business equipment. And ad business equipment investment and business equipment production there really pick out that what 34 months. That's a good beginning. Around. You see these stories about all these companies. Offering dividends and bonuses and what have you learned to withholding rates are gonna come down. In early February according to the IRS yes and I mean I just like this story and USB how long. Well just that this is as investment that could go on provides six years if you go on for ten years to be honest with you. At that and other things might not intend or comment. You know disappointing late. You can't predict all the future terrible but I I suspect you know you're we haven't had a long boom in investment. Since the eighty's and ninety's so that's twenty years and this when couldn't provide the same thing and you know get. Get GDP it GDP up. Back to its long run baseline that's really the key and get business investment out back to its long term baseline that and again it cold here. 01% or GDP and about. 22 and a half almost 3% are business investment this could go on for a good long while. Larry working at a a couple notes from. Members of the Federal Reserve in the last couple days William Dudley came out yesterday and said that he thought this might end up overheating the economy in the long run. Kaplan came out today and says hey we we may end up overshooting full employment. Or are those things that people need to worry about it all or is that just kind of worst case scenario. What that is is done. Is the keynesian demand side economics. Kind of a blast from the past I mean I've known Bill Dudley from many many years when he was an economist at Goldman Sachs. I was Bear Stearns and we used to debate. Bill Dudley didn't understand supply side economics then. And he doesn't understand supply side economics now. He just doesn't he he's all of us. Demand stimulus you know he'd cut taxes more money market at that he doesn't understand the incentive effect the reward respectful work. And investment inherited he probably never well it's all keynesian. I don't know Kaplan very well go out reserve comment on that but Dudley has never got that look what you're doing here have been let me be one. You're not you're increasing. The economy's potential to grow. You're expanding in the economy. Not that demand in the economy but the supply right. What happened if you have a bumper crop up. The supplier of apple jumps up does that increase or decrease the price about. And decrease thank you bet they answer and you win the Nobel Prizes points and I'd answer and that puts you way ahead of Bill Dudley. I feel good about myself Daria it's just we did it and there's no port five minute boom you're in a Nobel bill deadly that and understand that. Most of the Federal Reserve economists don't understand. They just don't get it and you know and the great swamp of Washington DC that he be all models the joint committee on taxation models they'll get. Don't get. The best of a lot of the Tax Foundation they do get it he should maybe tracked their views more but inflation is caused by excess money creation. Boris sharp. Devaluation of the dollar. Right that cause inflation but it. Lower tax rates. At the margin. Are actually deflationary in a positive way. In other words don't hold prices down so. If you have too much money chasing too few goods is inflationary. Uncle Milton Friedman taught that none 67 years ago and you increase the supply of goods and services. And you keep the money growth about the same as illustrated let's say about it stable dollar debt Ellen place. Its price stability. And that's exactly what we're gonna get if you know this program hasn't hampered. So I'm very optimistic about this and I can't look you know you could have. Slowdown quarters and that you could add 2% quarters and you get out 6% court. But the year on year changes are the trend line I think is gonna rain between three and 4%. You're gonna get a correction in the stock market and I guess several corrections in the stock market dipped as always term interest rates are gone up. Real rates are going up as a result the higher capital return. But that's fine by the stock dipped and do not buy bonds do not side by them underscored that. Owns a dot dot dot. Where'd you have any concerns about the flattening all of that yield curve right now. Not at the moment I keep an eye on it it's important indicator. But I think that you gonna be that curved white or speed. Because I think long term rates which have been edging higher are gonna run out let's say that ten year treasury. But it now what is it to sixty needed to get into his sixties he says I yeah yeah. So I think that's gonna go to 33 and a half percent next year. As a result of better capital in higher returns to investment and that's a good thing. Now steeped in the curve. I presume that that has not gonna rush. Hurly burly and there's a massive wild side. Rate hiking. Orgy he'd because of these dummies don't understand the difference between supply side demand that I assume that they won't do that. So. I would worry about it right now why it step by the way it is you know the world is awash with liquidity. And low rates abroad are having some impact on our rates that are long rates are going out that's what I believe and I think it's quite healthy and it will probably cause the stock correction on the way. Did you you have corrections and healthy markets you have stocks that rally in bad markets so. It's just kind of the nature of the beast Larry we thank you for joining us have a great weekend and look to sweep. Larry Kudlow senior contributor to CNBC. And looking at rates and where we see those go in this gym a pulled up just the up projections. Four off Fed Funds futures right now. Today where we sit okay the next Federal Reserve meeting is in about two and a half weeks the 31 January. Right now work between one and a quarter and one half percent the expectation for the end of this year. Is three hikes are against Miller said hey as long as the Fed doesn't do waiting nodding. They appear to be on a path to doing anything not now I don't think so. But I mean. If you talk about the Fed country and take a look at the tenure treasury went past the last few months it's pretty. Yeah you you've seen a little bit of a sell the mid to long range bonds. I I question you know I think that you can probably get his there said maybe that three and a quarter to three and a half range. I don't know there's much room beyond. Because that's tenements and just you know even get there like I could see it touching but at the long term kind of the stability at this point probably that to a two recorded a 3% range that's so that's where I see long term stability. In rates at this point when is it long term mean pay over over the next new attend a fifteen year that's that's kind of what I see there but. Lucky you continue to see signs of good economic activity and you look at the companies that keep reporting earnings. In every single one of them saying you raise in wages this year yet we week it's a tough labor market yet but we have to invest more so. I think between just kind of the natural impetus where eight things get tight labor market to begin with and also now we have more money to spend. I do think that you have this wave of investment that's coming my question my concern is what's that initial wave is gone. Is there continued moment to map like restaurants in so I would diver of that I look out nine to twelve months and I say. Let's let's be careful once we get out past that point but for the next nine to twelve when you look at this you say. Eight the market's gonna go up and down as Larry said like you have corrections sergeant good market. Hey things look create the pretty rosy out there from an economic perspective for the next nine to twelve months they do they do. So not gonna throw cold water on that party. That is all the time that we have on this hour of the financial exchange Ginn make sure he had over two financial exchange showed dot com to vote in our poll question today. Is Wal-Mart to wait. To compete with Amazon will get you some updates on that. Little bit later on checks not a Michael Armstrong talk also Tucker Silva would back in just a little bit on the financial exchange radio network. Hi this is Barry Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should talk we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention that your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Juries are for two securities America incorporated member finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most of petted it rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. 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If you or a loved -- are faced with an unexpected nursing home study and you haven't -- your -- yet before you write that check picked up the phone and call the experts at -- and -- at 8668485699. -- and Dolan has been helping families just like -- protect their assets for more than thirty years and they put together in new guide for this month told claiming for procrastinators. -- are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or die U eighteen having now wrapped up 2017. And Mike one of the biggest things that investors need to keep in mind this year are the upcoming mid term elections that are going to be held in November and the effect that they can have on markets both over a short period of time. But also over longer times. So yes certainly there's always uncertainty when you head into election years we've already seen some early elections that took place in Alabama New Jersey Virginia those have been giving us some sorts of indications of what we might see but it is largely unpredictable so we have to take a look and you know see how that impacts markets or how hypothetically could impact markets leading into the end at 2018 between ninety. One of the things that investors need to be cautioned about is is heating conventional wisdom that certain election results are going to be either battered good we saw that twice. In 2016 with both breaks it and the Donald Trump collection markets move the opposite way of what people X. Acted right edgy you know that your listeners Talking Heads on television every once said about Donald Trump went for a C a huge market correction what happened Dow futures traded down overnight and then we're up the next you know really the next twelve months out with wrecks that you saw quick dip over about a week period then made all that money back up very quickly so it really depends on the situation. Folks what 2017 is in the books you do need to be ready for what's coming in 2018 and so are strong advisory group has put together a guide titled 2018. The Euro ahead it's free of charge no cost in all you do to get it is call 800. 393. 4001. Or go to Armstrong advisory dot com. Again those numbers 803934001. Armstrong advisory dot com. 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A step ahead the calendar has turned and a new year is here it's time for us to reflect back on the year that was and the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial well being and your investment strategy as we head into twenty team the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 -- a great deal of promise and Everett a brand new guide that will help you look back on the successes we've experienced and the failures that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Dirty suffered two securities America incorporated member finreg SIPC and advisory services over the securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Do they are better than one that everyone knows that that's where offering two gallons from one particular. You can he added tax and wildcat mountains in that same day Imus. They're just twenty minutes apart in the number ones out in the heat. Do you know anything. Once again WR downhill this winner at added tax and wild cat nap. Cricket dot com for more information hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice -- don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates -- get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader -- dot com right now -- leader bank dot com -- -- a step ahead. And. This is the financial exchange with Barry Armstrong and shut sun out. You're exclusive look at business and financial news affecting your day you're sick leave your world stage info. In the end up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and sharks done us. Markets continued to move in a positive direction as the week. Draws to a close the Dow Jones up another 200 in three point so far today after 200 point day yesterday S&P is up fifteen NASDAQ is up forty. Foreclosed that I doubt 26000 hope home. Another week another thousand points now it. Kind of makes you nervous alone. And exit it's a little bit when everyone says that nothing can go wrong that's when everything usually handled it wrong yeah. Chucked out of Mike Armstrong talkers over here. Nothing going wrong right now though in the markets I mean look we continue to see this market. Moving ahead very very consistently. And it's not on the back of speculation it's not on the back of you know which casting it is on the back companies coming out every day right now and saying. Anymore money our earnings are better than we expected and they're going to continue to be better than expected so. Where I stand right now. I feel that this market even though it's elevated from where it was six months ago I feel like there's more reason for to be. Yeah I think you can definitely make that argument at this point certainly damning still though if you look at priced earnings ratios they're still in it and there's a story like this there's no doubt about it and there's a few specific areas that seem bubble issue if you read future honest with yourself about you know certain here's the stock market there a couple of them that but look a little bit that way but generally speaking it and a group. And in what the market is a beast of the east is controlled by sentiment it's not controlled by how much something is actually worth its controlled based on what we think it's worked. And in times like this you can't see markets occasionally get ahead of themselves I wouldn't be surprised you might see this market run up another 10% and then flop on its face just as people say will now it is time you know to to get a little more cautious so. Just something to be aware pay. Good times right now but always make sure you know that you're not too far in are too far out stay the course be consistent. Tesla. Announced it was probably about a month maybe two months ago they were going to be building their semi trucks starting in. A couple years. And people been you know running the math on it and a couple annals of command said yeah you could kind of breakeven compared diesel within two years of ownership and. I can't claim that this is my area of expertise I don't know which cost to run diesel semi truck that's not something that you view it's not something that I really focused a lot of my you know time thought and effort on Donald LR McCaffrey does though a lot of people are expressing doubts about that has a lot of there's a lot of experts that are saying. Though in the heck are you gonna replace an electric engine replaced that diesel engine with the electric one cost efficient basis and that's what they're finding is that. Upfront via the diesel the diesel engine is way cheaper to put together Tom part that costs about 37 ran up whereas electric vehicle you're talking about eighty to 83 now there's no mean all. That's right now you know. 83000 by the way 54000 at the bat I mean that's a big chunk that I think that come down exploited if I've always that you get battery breakthroughs yeah man good bye gas but until I hear is that here's the here's the other side that the argument is that the annual spending on running that diesel engine between your street between your fuel industry maintenance. You're looking 35 to 36000 dollars per quarter. Where is electric car you know by less than half. So there's remake of the money India I mean if if these estimates are true you know make up your money and just to rule over two years seem like a pretty good payoff. But you know I think there's a lot remains to be seen on the. Question on this and what this analysis I don't know for factored in the battery packs there have. Yeah and so one question that you also have his look. How much weight does that add to the vehicle and how much less can I carry as a result of that battery pack and if you how much to any of reload my electricity yet if it used to be hey I can carry 2530000. Pounds no problem in Olson now can we care fifteenth is the batter Paris weighs 101000 pound guys. We've we've got some problems here yeah. A it's going to be interest I mean I. I would love to see these things on the road I don't know how quickly it's gonna happen no apart request is that your does tests have a path to give survive that long but still burning cash left and right. They can they get to the point where. They can actually make because they can make big just barely make their model threes. They're missing their estimates on how many of those they're gonna produce and I'm sure you know I don't put a whole lot of stock in that test the ability to come through on deadlines that the. No they they don't seem to be very good at hitting them again it's they make phenomenal products. They're good company but are they a business that is you know sustainable. Hard to say at this point it's dirt jury's still out on that and will be for quite awhile. Tucker I saw the story this morning I pass it on view and it's from just because the the name of it. Aegis it's Hillary's perfect so California. Is opening their first bullet in breakfast pal those of you wondering it is not Budweiser and breakfast that's not what they're referring to here no this is going to be a it's a town called nipped in California. And it is going to have the the first effectively hotel. Where you can bring your marijuana in and do whatever you want with it. Can't smoke at that gets woken in the rooms. GO connect it. California got a pretty strict no smoking on any property laws despite the orders of the body and brick laid out what are you gonna do requesting nonsmoking room and a marijuana hotel. You know and and he plays out blood breakfast and not have been smoke in the room or turn turner you know on shoulder to let go into a sporting event wearing a blindfold the it is our it's great if the sounds wonderful. It is honestly pretty and so American green which is the largest publicly traded there in the name of all these companies like that just like. Eric it's it's just. Continuing isms are so they basically bought a town a few years ago died and it has a population of twenty there's basically. Like a gas stop a hotel at about breakfast and about that but Barack France's is what it's great audience the Mojave Desert in the middle of nowhere and it isn't bought this town they said hey. This or in doing that and Hugh could be. A moderate success advocate I could do well here. It Italy as five rooms right now yeah but American green is going to double the size in the rates are starting at just 99 dollars in this also space for tense and or vis call tonight. Should you match that people pull up to that place so either cards I've been out in the art of the country. I spends. Was to get three years ago I went out to watch Joshua Tree national park which is just south of hop and let me tell you it is miles of boredom. Punctuated with the most fascinating people you'll ever meet. Aria like you go it's it is. It's it's it's very eye opening because you you realize just how much of a bubble we live in here in the northeast as you you've there's nothing like this anywhere in the country so. I can tell you when you're driving through when you Japan is looking for some sign of civilization. Bottom breakfast doesn't sound so bad she knew when you're out there okay. So I am I'm curious if we get more he's popping up with the first blood and breakfast in California. Scheduled to open shore they don't win this technically be illegal in the state of Massachusetts right now yeah it is no. The well no is remember it's it's only I think it's an establishment so you couldn't but they're not selling. They were allowing you to bring your act aka will be okay in Massachusetts. They are actually investors as a lot of great bed and breakfast but we don't have but in breakfast well I better put a big emphasis on the breakfast and does these guys are going to be Hungary have all these deaths of a lot of breakfast covenant at all. Or you could have like a home improvement store cult like blood bath and beyond let's go up next our. Move along. Don't they're raising their toy eighteen or I don't like 20%. Due to tax law so I'm we Wright talked about wall. That that he that the airlines would have this much of an impact I didn't realize that their tax rates were all that hot. We'll think about it how partisan off shorts all the Buick you don't have intellectual property that you liked somewhere else it's all anywhere you earning that revenue you're buying your jet in creating your own jets are like that you really are Paul domestic here's I guess if I were probably pretty close to 35% tax rate guests at delta is you know obviously upgrading their guidance they also reported very good quarter. There passenger revenue for each seat per mile was up 4%. For the quarter. And you know they continue to while moved in in a glued to. Trend line here and you know the also got a little bit of additional good news earlier this week where they were rated the best airline in the country by US flyers. Gossip a little over 2%. After being up about 5% yesterday so it's been a good week for the stock do you think there's any reason this wouldn't be indicative for the industry as a whole. No I think I think the US airline industry is going to have at least the bumper couple quarters the one thing that concerns me a little bit longer term is cost of fuel. Yeah just is that as these bits the single biggest input cost that airlines have. But at this point. When you look at how they're able to hedge and so forth I think their own good shape for at least six months beyond that. There's some questions there but I feel pretty good about it for the first couple quarters at least a Intel on the heels of an announcement last week that there was a full on their chips that made them vulnerable. Apparently saying the patches that are dressing visa problems are also a disaster also buggy so that the fixes for the bugs also had book. I mean this is just you know stepping on their feet and I. I get it like the issue that they created here was a complete and utter disaster is volume take a little while to fix that. But you can't push out something that's also having you know having issues like that's your data centers that were crashing because the code they you know sent in to law update these chips just wasn't. You know 100% I mean I am really really concerned about Intel right now and you combine this with the SEC investigation and the CEO I series you've been following up on I. I'm not overly concerned on the now. I did the dominant player in space they are it is is there's no like mess up the only reason they keep AMD around. Is so that no one bothers them for an antitrust perspective. They give they wanted to they could squash a date they need to keep some competition around just so that indeed they don't run up against antitrust problems so I think it's a it's a hurl that Intel's got some work to do in order to get over. I I don't I don't doubt this company one bit in the long fair enough let's take a break and when we come back Donnie Epstein from the economist is gonna join us. If talk about Spotify and their plans to continue to up and the music industry that's coming up right after this break. On the financial exchange radio network. The financial exchanges line on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles at the most. Is who's the financial exchange radio network as we age long term care is something to make sure you claimed four. How quickly we your assets be depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and an average cost is expected to increase to 169000. By the year 20/20 six. If you or a loved one are faced with an unexpected nursing home study and you haven't done your claiming yet before you write that check picked up the phone and call the experts at Cushing and Dolan at 8668485699. Cushing and Dolan has been helping families just like yours protect RSS for more than thirty years and they put together in new guide for this month called claiming for procrastinators. It'll are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange Joseph di dum. Hi this is very Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should tuck we all work hard and if you reach the point where you're looking to the future call -- at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention to your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Security czar for two securities America incorporated members Jenrette SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deal and it got another one that is surely worth your time to check out liter bank is offering in east savings account providing free online banking when he one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new. 15%. 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Member FDIC a minimum Alex fees may reduce earnings -- subject to change without notice and may change after an account is opened the calendar has turned and a new year is here it's time for us to reflect back on the year that was and the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial well being and your investment strategy as we head into 2018 the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 holds a great deal of promise and -- a brand new guide that will help you look back on the successes we've experienced and the failures that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Securities operative securities America incorporated member finreg SIPC advisory services over the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Get the most comprehensive weekly economic updates from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. This segment of the financial exchange brought you in part by the US virgin rounds economic development authority. Hurricane German Maria were devastating to be out there already well on the way to recovery. If you're looking to star relocate or expand your business the US Virgin Islands is one of the most competitive business locations in the Caribbean. Take advantage of the incredible tax incentives that are fully sanctioned by the US government. For more information visit USD IE DA dot org again that US VI EGA dot or. So while having rescued your recorded music. Spotify upend the industry gamble but I joined by guy Epstein from the economists talk about his article and got a camera start with you know just look at history here and talk to us about really how music sales have changed. Since the 1990s. Right well so recorded music. Industry sales. In 1999. That is when Napster it was starting to become you know I'll start to become popular people stop paying for music. And there's been a steady decline was astute line between fifteen years after that. And sells basic. And actors write it and really even more inflation adjusted basis right just couldn't nominal terms that's it it was actually the worst. So I can help recover that a little bit people sort of thing but. But I can also broke the column in individual tracks people about the spotlight. So streaming has gotten people paying for music in a way that has expanded the amount of money. People are putting into the music industry so the labels are very happy and now Leo artist are starting to become happier too because. Those dreams are trying to get a lot of streams these are actually getting serious to. And so for some of the dozen knowing talk about what Spotify rule is in this industry I mean clearly the leader like how they compared to Apple's got their own streaming service YouTube pandora you know when they look at terms of subscribers and revenues. Right okay so Spotify and apple. Are very similar model of a spot by it does offer like at it pretty music can the subscriber thing is pretty much the same across. And service where you pay ten dollars a month. And you get the same catalog and so they'll limit also. Are available to use a subscriber. YouTube and some of the other little different. YouTube in particular is. The royalties are much lower for the industry the industry really doesn't like you to. People. That they complain that you know people basically use auto play. Two to start to use YouTube as sort of backed background music kind of deep for you DJ right. And there's not much advertising revenues and in general the music industry don't like advertising supported. Music and it doesn't generate as much money subscriber. So the industry who really likes a subscription streaming like Spotify and apple music. I have bug still clearly Spotify has attracted a ton of customers apple music has you know done similarly. But it. As you point out your article I mean Spotify is extremely unprofitable here I mean when they lose buster 400 million dollars. Right now with the operating affect a lot more they ought to. That's something like 600 billion dollars account debt service right their outlook throughout the list publicly. That that that they're not gonna have the same kind of financing costs going forward. So there at the Los is going to be only like in the couple million dollar per. That the way that they reduced that is there's a couple of one is there a particular lesson well. They've negotiated the reductions. With the music labels so it'll be a little bit less and that will a couple of but. To really make big money they're gonna do other kind of forms of business could basically reselling music is what they do and that is. Not inherently higher margin business it will mark as to what they're gonna have to do is you have got great data on there. On who listens to what to Wear. Yeah I was gonna say they're Dana data analytics must be I mean huge you've got millions of people listening to all sorts of different music different times of the day you would think that people be willing to pay for that sort of information. Exactly and they already you know are using that help. To work with in a concert promoters toward ticket sellers big giveaways some of that. Information directly to artist to maintain good relations with them and to help defuse the platform better. But they can package that data and probably tell. And extract price for that's one big thing that another is that they have the power they're playlist. Which they can't you know if you have a joint Spotify playlist. You're listening is going to you know go that route and get deposed quite a lot some estimates maybe as much to 200%. More streams. And that's for you know that's for partisan minority be somewhat established. So what does that sort of certainty that it didn't. But with a start charging that external hard nosed. Exactly can't you can't probably wouldn't. Charge in the in the would have up they've run into problems have been charged just pay the playlist re elect the payola scandal in the radio industry yet but they are testing on the free here. Something called clearly mark cult sponsored song. So. Your you know you might Elena playlist and song you can opt out of the picture on them if you're using the reservists yet. You might see a song come up to actually has sponsored. And that's something that commitment. And there's another way to playlist could help them. They could become a label themselves and start signing up and coming artists. And then maybe pay down a lot less and royalties but a lot more than they get themselves right now under a contract with a label. And become. You know a label that competes with the industry. I think that's. Actually that would be pretty tough tough reached to walk while still keep in those other bigger labels happy dimension. Right I think it's an artist in any time soon yeah. I think that they're gonna grow their core business do things like felt did. But. Long term he could see that right I mean just the way that Netflix from. Being a distributor to a hospital content maker yeah. You know I didn't I don't think that it's not easy to do. But Spotify in the position where they can help break artist. You know get and that's something that's been the most important thing a label doesn't break in artist. And Spotify has some power of that regarding could could wield its Sunday. That's a really interest in parent also win now what's the timing of their IPO. They have their highly incentivized under the terms of their financing to do it by the end of this quarter or so idiot by the end of march absent that it's not a certainty but look where president. While I appreciate joyous day variation article on Spotify and their potential future growth year have a great weekend. Crypt career days. I don't use Spotify and just because. I'd edged don't listen to music that would yet but. I love their big idol I love where they have the potential goal in the long term I had not considered that parallel between Netflix and Spotify until I read this article and I think it's a right really important. You know important thing to point out right this is how Netflix started to set a will license all your stuff George streaming online none of the other and you know the producer at NBC Sony noting he's doing. They start doing and then they said we got all this money spend beacon do this or cells we learned how to do it for and what if instead aiming you know paying someone else we say hey let's get our daughter's house that's and yet there's going you can really see at that takes off we'll say. Quick break your comeback we're going to be talking about puma as well as. National Grid hiking rates right after this place and exchange is alive on textbook so make sure to like your page and watch the guys draped in the latest on the markets every day beginning it and on the financial exchange radio network. When you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader bank a step ahead. The calendar has turned and a new year is here it's time for us to reflect back on the year that was in the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial well being and your investment strategy as we head into 2018 the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 holds a great deal promised an Everett a brand new guide that will help you look back on the successes we've experienced and the failure that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Dirty suffer through securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state as we age long term care is something to make sure you claimed for how quickly we your assets being depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and that average cost is expected to increase to 169000. By the year 20/20 six. If you or a loved one are faced with an unexpected nursing home study and you haven't done your planning yet before you write that check picked up the phone and call the experts at Cushing and Dolan at 8668485699. Cushing and dole and has been helping families just like yours protect RSS for more than thirty years and they put together in new guide for this month called claiming for procrastinators. It'll are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed judge John. You are better than one that everyone knows that that's where offering to Alan's group once again. You can add cash and a wildcat mounts in the game day I'm the only. They're just twenty minutes apart in the number one's in neat. You mountains once again WR downhill this winner at added tax and cloud cap now. Ticket dot com. For more information and everybody it's very Armstrong and I'm joined by estate planning attorney Todd what's key from law firm Cushing and dole and we're talking about. Last minute planning techniques that can help seed your assets from the high cost of a nursing home. And taught here's a question half Korea. What can be done last minute. To exceed your assets if your spouse suddenly has a stroke induced. Permanently confined to a nursing. Yeah and it's primarily about your home. You know that's the big asset that you want sure no way out of bed if you've got money in CDs or brokerage account her diaries I mean I'm concerned about all. We that's a good point that you could look as it's all at risk I think that's a point here higher rates at risk if CDs or risk your brought together terrorists everything and so many people don't think that's the case but it is. So I can tell you first and foremost it's easy for the house as long as the spouses living as they won't take it. But the house and her name doesn't have matters while you ease right please don't stop there because if you get sick in the house is at risk but at least two dodged a bullet. The bigger issue you're right there is all those dollars rather IRAs or not. No and really at that time you you're probably looking at one of these last minute Medicaid in new technique is even for a diary you can even for an IRA you may have to pay some income taxes to get to where you wanna be. But you know ominously 141000 dollars a month and pay the tax cut so these these last minute annuity techniques. To put all the money into an annuity and how to pay out an income stream to the healthy spouse. We'll get you there aren't like that not the best way to go here you better off doing advanced planning but there are last minute planning techniques you can take advantage or. Call Cushing and dole and 8668485699. That's their phone number you can download. In January guide by simply going to legal exchange showed dot com it's legal exchange showed dot com go to that website. Download the guide today or call 8668485699. Like us on FaceBook and follow us on Twitter pax TFB show you. Breaking business news is always first break here on the financial exchange radio network. Who's coming out of Europe today Herring is spinning off its whom brand. Shareholders he SO carrying it doesn't itself have a huge name but there the tide really Taguchi. But they bought Wilma back in 2000. Back in 2007 when the profits were 269. Million. They dropped to a low of five point three million euros in 2013 and 98%. Drop in profits over a five year period. If he incredible. You guys buying in Tacoma. I don't we have ever own a single item of puma ever. Ike I remember buying certain item of whom because it was the only time I'd ever been in the store. Think we're one month but when my friends from high school his eyes open for his girlfriend. And she liked puma stuff for I tried it on like a trying to pair sneaks I think I just was crazy about it I think eighty bucks something was more of that so I ramming caring has kind of you know they've got a pretty good job rejuvenate the brand they're back up to profits last year they had profits of 134 million dollars so basically to Spain this thing off and really trying to focus more on the higher and witches. He Wear Gucci alliance than just focusing on higher and luxury brands. So you know inching move Agassi whether do this right you know puma just does not throw the business. Now it's and obviously I think they wanted to diversify and try to get into new areas but. I hit a failure I think part of it is just that big they probably don't know quite how. To sell to a different clientele probably. You know it's that if for some sometimes you're able to kind of make that jump and sometimes they were good at one thing and we're just gonna stick to that one thing. News out of Providence. National Grid for Rhode Island has lowered their request for increases. In electric and natural gas revenues by 26 million dollars. Because of savings that they're gonna get from the new tax all BA in. This is this is an inch in stories are they had initially gone to the board and ask for 71 point six million dollars from the customers you know covering. Health care costs labor equipment says cyber security improvements. That would have been an average increase for electric by 6% and gas by 5% of pretty pretty big bump. And now there yet decreasing now pretty significantly so I I would guess that they're still gonna you know Rhode Island residents are still going to be looking at around three or 4% increase that. Pretty significant savings impact from the stacked so yeah it's. In we've seen this from a number of utilities I think we're reported a couple weeks code ever source who's gonna be doing something similar as well. So obviously you know look even if it just saves you five bucks a month. It's it's still money that you would have been yes spending just on heat your place anyway and utilities are inching way to look at it red because you know they are going to pass that savings directly to the custody after because they have no choice regulated they aren't of that they're limited on how much they can profits so. They have bunch of money savings from tax they have no choice but passed through the consumers if you wanna pure snapshot. Of how the tax benefit is impacting corporations utilities is a pretty inched a way to look at. This next story. Confused me. Polls is partnering with grocers and convenience stores. To try to fill vacant store space in stores that they have made smaller in the last couple years why would you want to wait. So they're pretty much saying we're still releasing all this space but we don't know what to put in part of it sort of try to become landlords rent it sounds. To try to become targets in a way. I don't think they're gonna go that route with this thing betting grocery. But I don't think they're gonna have their own grocery I don't think they're gonna go out there and say hey Coles is now do aggression I think they're gonna look for some partners and say a whole foods. If we block off this small area here this you know some thousand square feet that is perfect for your size stores. You know come rent this and I would imagine that they're probably looking at their customers and this is the benefit of data analytics in between for centuries you can take a look at your cold shoppers and say where else to they shop. Oh they'll shop at whole foods they'll spend a ton of money there. Great if we put a whole foods or an extra store they're gonna you know they're gonna shop at those two places and maybe dollars tax increase now if you put a whole foods inside a Kohl's I think that's a really bad idea that hole or what if you courted offense at a separate entrance and make you really convenient that you guys don't like during a whole Coles Null. You got orange juice all over your blouse. A you don't wanna cleanup on aisle seven in the luxury you know jewelry area of coal trail as you can see out there if they do this right they seek out the right partner for this I could see how can work. If it's separate it's your work I just don't view like they're trying it. Circling back to the storm just touched all of whom they're trying to do something that they have no experience in doing Indian landlord. And I just. I don't know I like businesses to stick to their core competency I agree that Nichols has much choice that's probably true. The cost price hike if you are if you are on the hook for the cost in Europe operating retail segment that is in rapid decline. You need to start thinking outside the box an argument for it does think outside the box. Folks want to bring to light a new offer from leader bank it's a new year and so it's another great promotion. From leader bank they have a brand new relationship money market account. That allows you save your money. And growing earnings with a great rate when he opened a relationship money market account with leader bank the rate. Is one point 35% APY. Balance is between a 100000 in a million dollars it's easy to qualify simply maintain a 5000 dollar balance in a leader bank personal checking account. In Roland. 100000 dollar daily balance in your relationship money market account for more information. Co leader at 8776917900. Or visit leader bank dot com that's 877. 6917900. Or had a right to the website leader bank dot com take advantage of leader bank's newest offer. And grow your savings today fees could reduce earnings. And a penalty may be imposed for early withdrawal leader bank a step ahead but FDIC. Equal housing lenders you know before gets in new. Next story chuck I just saw a new news new numbers command or its holiday sales. We had the strongest holiday sales season since the Great Recession sales reps five and a half percent in November and December year over year. Big numbers as a really really big numbers of the big numbers out. That that's pretty huge the strongest performers were building materials supply stores furniture. And electronics. And clothing accessories are pretty weak up only two and point 7%. Health and personal care is up 2.2 percent so. I think you know your brick and mortar rather we've been talking about a lot Macy's Kohl's. Seers adding these guys are continued trouble but I think when we start hearing stuff from the home depots Lowe's. You know the different furniture stores like home goods and TJ Maxx I think you could see some very impressive numbers here. I think there is. A building and remodeling boom that we are in the middle of right now and and I think that it I think there's room to run on the I'll tell you this because I any contractor out there it's you either look at baby boomers who were renovating or downsizing. Or colonials who are moving into their first homes I. I think there is a whole bunch of activities it's still to come in that sector I am I'm right now getting three separate quotes on installing central air house absurd here. How often decried the last week. Haven't gotten any yet so I have a certain crowd well first what's coming next pitch well we'll have Kleenex for ages you know and it's it's OK to cry it's meant real men cry if something like that. Tax overhaul we we've talked about a lot about what it's gonna meet people's paychecks we finally got some numbers as far as the new withholding tables would would this. Factors into what this does. This is so that you know how much tax is going to be withheld. From your paycheck every week every two weeks every month however you get paid the new withholding tables were released by the government yesterday. And we have a little bit more clarity on what people are going to be seeing coming back into the page. So yes I think the dollar amounts are somewhat cloudy at the ending terms how much total tax you're going to be paying but you know the new tables determine the withholding so it looks like more than 90% of workers will end up having a bigger chain paycheck under these new withholding change. Yes obviously good news on that front there was a warning on the back end of it saying. We think these are right. Just make sure that you're careful because we could be wrong because the irises have the budget cut like eight last nine times and we've only fifteen people working down here so we're not really sure if these numbers are completely correct Jimmy handle all the refunds and he's just not sure how fast he's gonna be able to get through Jimmy hasn't slept in three year us. He's he's a real real pickle the moment. Let's take a break when we come back all the Monica from CNN money is gonna join us in Boston be digging in the Berkshire Hathaway the oracle of Omaha what's going to be happening with his company this year. That's coming up right after this break on the financial exchange radio network. Photo and Howard daily poll question had financial exchange show dot com while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. If you're a hard worker in you've created a successful business I've got a message for you they can help the business thrive and grow Titus is Daria are strong on behalf of the US Virgin Islands economic development authority. We all know how devastating this past hurricane season was. But the islands are already on their way back and the authorities economic development commission offers a tax incentive programs for companies located in the US Virgin Islands. I'm talking about a competitive. Offshore tax benefit program that is sanctioned by the US government and it allows your business to lower its corporate tax burden by 90%. Many US businesses are already taking advantage of this tremendous program. If you're a business owner looking for tax breaks. Talked to the folks at the US BI economic development authority one under their website for all of the information that's US. VI. ED EA dot org. The calendar has turned and a new year is here it's time for us to reflect back on the year that was and the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial wellbeing and your investment strategy as we head into 2018 the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 holds a great deal of promise and Everett a brand new guide that will help you look back on the successes we've experienced and the failures that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Dirty suffer through securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Gary Armstrong representative Armstrong advisory group and the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state as we age long term care is something to make sure you claimed for how quickly we your assets being depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and an average cost is expected to increase to 169000. By the year 20/20 six. If you or a loved one are faced with an unexpected nursing home study and you haven't done your planning yet before you write that check picked up the phone and call the experts at Cushing and Dolan at 8668485699. Cushing and dole and has been helping families just like yours protect their assets for more than thirty years and they put together in new guide for this month called claiming for procrastinators. It'll are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed judge John. Hi this is Barry Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through. Acquisition if you're financial advisor who may be considering retirement or simply developing this succession plan for your clients we should talk we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention to your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Juries are for its securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Security suffered through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest do you. This is the financial exchange radio network. If you're on the go you can still keep up with the financial exchange on the I heart radio lap available on both your phone and tablet. Just search the financial exchange needing your individual segments or full shows if you can't listen live we've got you covered on the I heart radio. Paula Monica joins us on the line now as he does every single Friday and Paul thank you for coming all of us. Or talk about Berkshire Hathaway today are you bullish or bearish on at this point. It's hard to really be bearish on Berkshire when you think about it I mean obviously we go to it. Warren Buffett continues to work his magic of the company's in debt you know shares in here. An all time I need to step investments whether or not he would say it's all I am more. To give credit Charlie monger some of the new room attendants like you know what sort columns but you like finding things that Berkshire has you know he emphasized some of the company and do so well lately. Like cheap he didn't you know started to get a little bit more interest data in you know tech sector without being Apple's past. Looking at this company right now how much of the portfolio is still managed by Buffett and munger how much is handled by his lieutenants. Yeah I mean there is a growing sense that what sort columns are taking on a lot or I don't know there's been and you percentage. And you want deputies. You Warren Buffett first is that you know question comes that we clearly knows that. He has that started to you know to leave more responsibilities. Her. Stock picking him running the portfolios to those tenants of course Berkshire that was also war than just that the companies that invest it. At that rising insurance business with Ike out reinsurance business huge energy business and yeah I think that's the reason why people expected. Went popped it eventually decides either retire or succumb to the inevitable fate that you know. Default almost. You got kind of regime change insurance current war. Greg gable the energy CEO will likely need to do you know that doesn't mean that they'll start during the stock picking. Probably stopping me look Smart columns that game potentially. Brought the entire company. Yet you go down those two companies they ought to mean obviously mentioned Geico they've got dairy queen Lubrizol you know of this that they they own stakes in seems like just about everything. One of the questions that I have. They're sitting on a big chunk of cash right now north of a hundred billion dollars. Is that they give you any indication about where Buffett views the market right now and beat do you see any plans for that. They have been very aggressive over the past couple years making acquisitions and I don't think that's something. That we know lie and anytime soon and obviously the partnerships would reach the first two laughter. He not been top five times and then one did not stop buying crack as well to create a style craft time. I expect more deals like that you committed the Precision Castparts you know not that long ago which is a little largest in the history I believe so why I think as we know but it is the deal maker polite. He's always looking for the right price so the question becomes. As stocks continue to move higher. Is he going to be able to find something at the type of value lesion that god don't make sense program is not canal for pain most likely. Obviously you know Boston has done a ton to you know make note of his succession plan these built in and you know we we got the news a couple days ago that a couple more directors were added just give continuing to bolster that bench. How much of the sentiment in this stock is tied up in buffet we have any idea on that. It's really hard to say that I think that it is a legitimate question. To wonder why. Happens to Berkshire Hathaway. After Warren Buffett is gone I mean you'd have to think that bare minimum people are gonna be flocking to all of law. At the end of April early may aid to concede west marine home to keep changing Greg gave us no disrespect to them but they're not a legend that debt. Yeah the puppet is yeah he had his sidekick Charlie Munger there as well like you know funny comedy routine often. So I think it's a legitimate question but you know obviously look at apple Tim Cook is Don may very strong job of warning that company gets criticized. For not being Steve Jobs but you know I think Apple's shareholders shouldn't be all. That upset about that but I think it's legitimate question what's he's going to be like after Mark Zuckerberg even decides to block. Retire pursued me run the company in 20 yeah passed away yet you know we can wander out anytime you have an enigmatic founder. That there's going to be you know concerns about what to expect Walt Disney's domain Walt Disney. Our partners to a pretty decent job at all that. Very good Paul thank you for the time have a great weekend we'll catch up with the soon. Paul Monica from CNN money talking about Berkshire Hathaway I just say they continued to you know I look at Berkshire and I say. It being great at what they do they may still be great at what they do after Buffett's gone. But how to people view the company when he's gone and that's that's the one can circus stocks again they're they're based on sentiment is not based on how much money make it based on how people feel. About how much and that there's very few he mentioned a few remarks up Zuckerberg to go to net. People that have so big and so iconic. As the CEO of these publicly traded companies is very few that can you know rival. The just the enormity that warm up has represented for Berkshire hath it's it's like being the guy who comes after Michael Jordan. Yeah no matter how good you are. You're coming after Michael Jordan you're always going to be compared to mean is there in in terms of you know publicly accessible it publicly accessible like. Is there any moral legendary investor in the last hundred years. You know guy out of the are you could even make that argument to Wilson even in the conversation ego like Peter Lynch yeah. You know but his track record was twenty years PM way shorter and I'm trying to think of who else's in the conversation. I don't and I really felt it and yeah I really don't think there's anyone that you can put on that same in the same room. You know it's it's tough so. You know that is the big question but if there's if there's any company that's ever done it better in terms of planning out a succession I can't thank them look it. They put the ball to be gone for like the last ten years and they've done it truly incredible job of planning for the eventual succession of Warren Buffett and you know there's no company has done a better. But you still have a company that has been centered around one person for. 154. Decades by decades. It's yeah I mean I think you know again. Buffett's 87. Mongers 92. You know you look at is say no one thought these guys are still gonna be here at this point. But I think if there's anyone who can figure out succession plan it's M there are more and more Buffett does he said this all along he says look I've been on talent. And and I bet on companies that I know. He knows the town his company he knows his own company so I look at it from that perspective and say if there's one person who should be able to pick. The perfect. Person or people fallen yet should be warm buffet at the except. Should you Warren Buffett kind of right in his wheel house. Let's take a quick run through markets just as we head towards New Year's the Dow is up 205. Points 2.5 780. But it 26000 next week. S&P is it 2782. Up fourteen points NASDAQ is up forty. At forty point 95 to go to the Dow components. And let's see who we've got out here just take a look at whose movement today. The thirty companies in the Dow biggest movers today. Let's see we've got Boeing up 2% is bone appears never go down anymore. Wells is moving up 3M is up one point 4%. Hold people one point 6% probably in that retail sales number Merck up one point five so kind of broad based here. Stock sell off Verizon down a little bit Procter gamble down a little bit Intel and GE. Investors are going risk on yeah. Risk on Manhattan into the weekend who goes out that'll work out to all the time we have for today told time that we have for the week. We're back next week on the financial exchange radio network.