there is not only a lawn less but real institutions like avalanche foundation and franklin templeton, willing to say that name coins are a legitimate use, a block chain technology. mean coined projects traditionally have no underlying value and worksheet to create and spin up. but today, creators are investing time and money into making their products stand out, building and, and heart eco system. the trends rise, swap and even s p's to go with their main point. but now by advertising these projects, it makes it more likely for court to find the investment to be a security. because marketing is a factor and the application of the how we test. many of these mean coins are also led by team rather than being community driven, which would also classified as a security where a team is actively working to increase its value. main coins operate in a largely unregulated space, raising concerns about investor protection market manipulation and financial stability. regulatory agencies worldwide are grappling with how to address the risks posed by main coins, including fraudulent schemes, pump a

templeton, willing to say that main points are a legitimate use of block chain technology mean coined projects traditionally have no underlying value and worksheet to create and spin up. but today, creators are investing time and money into making their products stand out, building an entire eco system, the trends rise, swap, and even n s p is to go with their mean point. but now by advertising these projects, it makes it more likely for court to find the investment to be a security. because marketing is a factor in the application of how we test. many of these mean coins are also led by team rather than being community driven, which would also classified as a security where a team is actively working to increase as value. mean coins operate in a largely unregulated space, raising concerns about investor protection, market manipulation and financial stability. the regulatory agencies worldwide are grappling with how to address the risks posed by main coins, including fraudulent schemes, pump and dumb schemes, and the lack of transparency and project governance. 8 by creating legitimat

templeton, willing to say that main points are a legitimate use, a block chain technology mean coined projects traditionally have no underlying value and worksheet to create and spin up. but today, creators are investing time and money into making their products stand out, building an entire eco system, the trends realize swap and even n s p is to go with their mean point. but now by advertising these projects, it makes it more likely for court to find the investment to be a security. because marketing is a factor in the application of how we test. many of these mean coins are also led by team rather than being community driven, which would also classified as a security where a team is actively working to increase as value. mean coins operate in a largely unregulated space, raising concerns about investor protection, market manipulation and financial stability. the regulatory agencies worldwide are grappling with how to address the risks posed by mean coins, including fraudulent schemes pump and dumb schemes, and the lack of transparency and project governance. so by creating legitima

templeton did, the investor has a chance to go from 85 to 100.over 85. it is a fund that lit its investors money on fire. the last three years we have more or less been in able market. they have lost more than 50% of their capital from the stock prices going down and from discounts going up. it has lost billions of dollars and here we have investors resoundingly saying, we want change at the board level, but the party would be shocked to hear is that they have decided to set election rules such that in order to replace the board, you have to get 50% of all the shares. preliminarily, they got 51 to vote. we would have needed 50 out of 51. that kind of math makes it impossible but it makes it impossible for them to put anyone else on the board because they would have to go through their own arcane rules. the blackrock nominees sit on approximately 70 different boards. how can they do their jobs at 70 different boards. at j.p. morgan, they sit on one board. it actually prides itself on raising money to the provide good governance. >> that was just p

templeton did this month in three energy funds, the investment has a chance to go from 85 to 100, andow, that's not even just 15%, because it's 15 over 85. that's an 18% return. and it's a fund that lit its investors on fire. i say that, it sounds dramatic, the last three years we've in more or less a big market, but big z has lost more than 50% of its capital from the stock prices going down and from the discounts going up, and so it lost billions of dollars, and here we have investors saying we want change at the board level, but the part that many of you would be shocked to hear, i mentioned the quip about putin, they've decided to set election rules such that in order to replace their board, you have to actually get 50% of all the shares. in big z, eliminate, they got about 51 to vote, so winning 35-15 wasn't good enough. so that kind of math makes it literally impossible, but ironically, it makes it impossible for them to put anyone else on the board, because they would have to go through their own arcane rules, so as a result, the blackrock nominee each sits on approximately 70

franklin templeton, which owns pu putnam, is bringing this forward to the product offering.ns is 30% return. 401(k) is nowhere. same dollars for the same. why aren't there more? we do think that is a path alternates will travel where they get into 401(k). there is a convergence. you saw kkr announce a relationship with capital group. we think this is a long-term secular tailwind that will drive these companies. they are not very expensive. >> to like all of the financials that you mentioned, what rate back drop do up want to see? do you an seem we have seen the highs and fed will have the next cut and down from here? >> we think we can put the fed aside for a while. for the past 18 months, we have a.i. and the fed. if you think about it, we came into the process and nobody had a 5 handle for where the fed would go. there was a massive disblocatio. when we got to 5, everybody priced in five cuts in six months. now we're at convergence. i think for the next 12 months, we can sort of say, we know what the fed will do and it is close enough that it will not matter and focus on t

katrina dudley is coming up from franklin templeton on why she still believes in that soft landing. one day out from the first presidential debate, with neal dunn a on why the fed should be cutting rates right now. top story, u.s. stocks snapping three days of losses ahead of the presidential debate with key inflation data on friday. katrina dudley wrote -- we continue to believe in the soft landing. today's economy is better than it was at the beginning of the year, the main risk on the horizon being the impact of the presidential election. before we get to that, we have to go to the fact that we begin the show saying that the runway twist off landing is getting narrower and narrower in here they come out saying it's the opposite with people getting more confident and have complete conviction. can you just sort of bring that together? >> when you think about the soft landing and the narrow runway, that's the impact of data coming into the market and informing the investment opinion. looking at the beginning of the year and where we are, at the beginning of the year the market was p