day. earlier today, we had small highs, gains for each of the major averages, at that time putting an all-time highs, but you can see the s&p 500 and nasdaq here on the close not participating. for the nasdaq, this is the first down day in 12. that said, the nasdaq still above that 9000 level. of course, this is a year of record highs, big, big gains for stocks. if we look at a year to date chart of the s&p 500, we will really see those gains. there is that daily move, again, very, very small moves, the s&p 500 eking out again. on the year, up 29.2%, about 14% away from having its best year since 1997. year&p 500 put in its best in more than two decades. assets rallying,

climbing the wall of uncertainty, but that's true for pretty much every asset class. a lot of folks talked about 2019 as the year of the rally for everything. if we look at high-yield stocks along with gold futures, look at that -- huge gains. 36% for oil. high-yield treasuries, basically the best year since 2009, 2010, or 2011 depending on the asset class. one question on folks' minds at this point -- what 2020 bring? a lot of strategists bullish on 2020 and what that could bring. if we look at charts on the terminal, we will see the s&p five -- the s&p 500 is overbought, well above 70. some technicians don't mind when it's overbought. back in 2017 into 2018, higher highs until it starts to turn down, those conditions really

suggest or could be more bullish momentum to the upside. these kinds of rallies go longer below 70, it'st kind of bearish and that's a look at the market trading day from new york. this is bloomberg. >> this is "bloomberg businessweek post quote live on bloomberg radio and bloomberg television. we have the market close and averages finishing off their highs of the session. remain and i are going to take a look at some of the stocks and major equity averages on the .ove -- romaine and i 233 names in the index, higher andy, 255 lower, seven change, but the nasdaq unable to maintain another record, that we did hit it intraday. : all these index still in the week, slow on the month,

still up on the year. carol: i want to mention the nasdaq because it has had so much momentum behind it. one of the reasons, i actually looked breaking it down to the nasdaq 100, and some of the top stocks included a lot of those chit names. maybe we have a board that we can bring up for the folks on tv. for the folks on radio, andy -- has been a huge outperform her. if we look at lam research, that stock also within the semis sector, you could see it's up about 150%, 120% so far this year. kla,take a look also at that stock has shot up. the whole semi stage, which i think is often a key indicator of what is going on, the economy has really taken off big time. romaine: if we go back to the broader market, we can talk about the treasury situation.

treasury yields pretty much falling across the curve today. we are seeing some interesting buy-in going on in treasuries despite the fact you still have this rally in stocks. a little bit of defensiveness still in play, people trying to hedge their bets. the dollar actually slipping today. we've seen a lot of dollar weakness over the past few weeks. gold even though it felt today still having its used weekly advance in about four months, and again, this goes back to the defensiveness, holding out that 1500 level, and crude oil also holding its games today. carol: gold registering its best week since august and we have seen certainly some momentum. i do want to mention michael's store -- come on. it's out there, i know it. doing craft projects on the weekend. aren't we all? it's down about 41% far this year. we are talking about the craft

specialty retailer, but, man, it year, all so far this because of a new executive. a former walmart executive, talking about ashley buchanan. she is succeeding mark crosby, who will be ceo until april 1. he will still be on the board, but it looks like this stock has been beaten up this year, as i mentioned down about 41%, maybe looking for new blood to come into the company and help out its performance. romaine: there are some of their interesting stories, too, with regard to stocks. mastercard it in all-time high today. visa and an all-time high today. again, we talk about the economy and consumer spending. these are two of the companies right here that are benefiting tremendously from that consumer spending. nike, that's another story. record high today. estee lauder, another story. record high today.

the ones that really sort of depend on people like you, carol, going out there and spend, spend, spend -- carol: don't tell my husband. stocks rising. carol: they are also spending on yeti. we had analysts coming out talking specifically about this company. it has often been a third, fourth party stores, but apparently, they are expanding their own footprint, and analysts like it, specifically piper jaffray. romaine: this is something that i think will become a huge story. oflyst like the idea companies connecting directly than goingers rather third party. nike has been at the forefront of doing this. just get rid of the middlemen. ryan wrote quite a few stories about this. yet he has had quite a few moves

this year. ryan: that's true. there has been a lot of news about yeti opening up specific stores, especially in metropolitan areas. i'm very optimistic about their ability to continue to grow through this kind of direct consumer channel as opposed to, like you said, going through some other retailers. we're talking repeater keith here, did the analyst in that note addressed address some of the issues with regard to the trade war and how yeti is being affected? ryan: his very optimistic about the potential for earnings growth and margin improvement as a result of some of these tariffs being eliminated. i believe he said 100 to 120 basis points of gross margin opportunity next year as a result of these tariffs being eliminated. that translates to about $.10 a .hare carol: we got to talk about gene munster. was onout a year ago, he

our program, on our simulcast on tv and radio, talking about apple specifically. he said it was going to be the outperform are among the faang stocks for 2019. he was absolutely right, and he says what for 2020? ryan: he is expecting sort of a repeat performance. hard to find fault with his call last year. apple is up this year, far exceeding other faang names. it has been a pretty good year for all of them. facebook is up almost six he. alphabet up ab 30%, smaller gains for both amazon and netflix, which is the bottom of the pack, but still up more than 20% this year. he's very optimistic apple will be able to see another performance like this next year. he's expecting again more like 20%. like other analysts who have been helping drive the stock higher over the past few months, his optimistic about 5g

technology and without will mean when apple releases a 5g iphone, which is expected in the second half of next year. he's also optimistic about business, services meaning wearables. investors had been waiting for apple to expand in terms of their investor base. great report on the bloomberg terminal at bloomberg.com. thanks so much for checking in with us about yeti holdings. it's all about 5g, carol. carol: a totally is. mark: i'm mark crumpton with bloomberg's first word news. in southern australia, temperatures soaring to a blistering 108 degrees today. farther east, firefighters continue to battle brushfires. they are trying to gain more ground on the blazes before a heat wave hits that area, too.

about 70 fires are burning across australia. nearly half of them are not contained. dozens of homes have been destroyed. about a dozen people injured after a nitrogen tank exploded at a beechcraft manufacturing facility out of wichita, kansas. the blast caused part of the building to collapse. because of the explosion is under investigation. rescuers resumed the search today for a tour helicopter carrying seven people that disappeared during a trip to one of the most rugged and remote coastlines of hawaii. a coast guard statement said that the helicopter company contacted the guard about 45 minutes after the aircraft was 'se back from a tour of hawaii nepali coast. the coast guard added the chopper was carrying a pilot and six passengers, two of whom were believed to be minors. helicopter tours are common above the island of hawaii, much

statech is made up of parks. have groundedies the rest of carrier book air's fleet. raising international concerns with a new intercontinental missile. the newly operational weapon can fly 20 times the speed of sound. vladimir putin has described the weapon as a technological breakthrough comparable to the 1957 soviet launch of sputnik, the first satellite. the weapon since a top -- sits atop and intercontinental missile, but unlike a regular warhead that follows a particular path after separation, it can make sharp maneuvers in the atmosphere after separation. this makes it harder to intercept.

u.s. officials are considering adding a layer of sensors in space to detect this type of weapon. russian anti-doping agency sent a formal letter today disagreeing with the sentence imposed by the world anti-doping agency. the case now heads to an arbitration court. russian teams are banned from a range of major sports competitions over the next four years, including next year's 2022 world cup. global news powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. carol: stanley drucker miller has been raising risk again. he admits misreading the markets a year ago but is bullish going into next year. he spoke to erik schatzker in an

interview. >> you have very low unemployment here. fiscal stimulus in japan. you have fiscal stimulus and a lot of confidence. we are running a deficit. apparently we will have some sort of green stimulus in europe, and we have negative real rates everywhere and negative absolute rates at a lot of places, so with that kind of monetary stimulus, it is hard to have any kind of constructive view on the markets and the economy in the immediate term, so that's what i have. >> because everywhere you turn you are being encouraged to take more? i i don't need to take more, have enough, but i just -- i have always believed that

extensions and usually with tight monetary policy or credit problems, and i think what we are doing is definitely borrowing from the future and the probably end badly as 2007 period did, but that could be years. i'm 66. i might be dead by the time it happens, so the intermediate .erm, technicals are good economy is fine, and if anything, our biggest problem the fed shifted from their qt or titan program, our biggest problem was obviously global trade and worries over global trade. i'm not saying everything is all peaches and roses now, but certainly on a rate of change --is, i don't see that being if anything, there is a

de-escalation, not an escalation there. carol: interestingly, there is reason to think that perhaps that global stimulus he was talking about may not be as much of a sure thing as everybody thinks. take a look at this long-term chart and why we have the trade policy economic uncertainty indicator coming down. the policy indicator, though, in yellow shooting higher, suggesting it may not be quite as known as expected. from new york, this is bloomberg. ♪

carol: you're listening to and watching "bloomberg businessweek," a special edition. i want to talk about alternative strategies. our next guest focuses on diversification from diversification -- diversification from traditional asset classes. brad, nice to have you back.

remind our audience a little bit about your strategy. it's all about trying to reduce volatility in an investment portfolio. brad: that's right, carol. one of the things that happens is investors ensure their portfolios against downward movement are buying inputs, and we take advantage of that and sell those puts to them. more often than not, that turns into a nice selection in your portfolio. environment,his where the fed seems to be pretty successful in at least keeping volatility in check, is that good or bad for you? brad: certainly, we like volatility to be a little bit higher. when volatility is super low, just like any kind of low risk insurance, you can collect your premium, but the premiums are lower, so we like it when we see more normalized volatility. long-term, the vix would be in the 17, 18 range, and we are currently around 13%.

while our outlook is not terribly different from most of the people you have had on all day, interesting when you see the market flat but volatility as in the vix was up about 7.5% today. we do pay attention to those signals. carol: but you would still like to see a vix, like you said, about 17 or the strategy to have a more significant payoff. is that fair? >> that's fair. what you see in these low returns or these low returns or the low volatility environments, you can clip your coupons or smaller coupons, and there's nothing wrong with that. we are happy to make that extra premium at any point we can, but if we have our druthers, we would like to see more normalized volatility. it just makes it a little more attractive. romaine: one of the positive stories, at least from the equity markets perspective, has been seemingly the progress we've made on trade, the progress we've made on brexit, and the idea that some of the geopolitical risk out there is a little bit less.

do you anticipate that geopolitical risk staying subdued in 2020, or is it possible we will see a ramp up again? >> i think from the recession fears this summer, markets have moved to more the fear of missing out, and that is why we have seen this product that has occurred in the fourth quarter and we expect to continue on probably into the new year for a brief while, but i do think there really is not anything to be overly nervous about, and that is frankly what sometimes makes us nervous. oftentimes, that is when you see these speed bumps that come at you. i do think geopolitical is taking it easy, but we have seen in this china scenario is sort of ebb and flow's in both directions. as it relates to the economy, it's also some go, but there's always things that can come out of nowhere. for example, if a more moderate political scenario were to come

into being, i think that could get interesting. carol: one last question, i'm curious what kind of flows, new investor money is coming in because that is certainly a sign of its investors are nervous. has it been above normal? are you seeing it above average? >> we are seeing terrific flows. i think it is a mixture between fixed income and equities. certainly emerging-market flows as well. i cannot say any major trends other than we are seeing general inflows, people trying to get back into the market. ballne: our thanks to brad for joining us today. the big saudi aramco ipo, record ipo, but a lot of folks wondering if they should short the shares. anyone trying to short this stock is probably going to have a hard time. >> they are. shortselling is pretty common

across all exchanges around the globe, but in saudi arabia, especially, it falls under a bit of a gray area. some islamic scholars say shortselling violates sharia law, and that means the market for borrowing shares is pretty illiquid, so that will be a problem for anyone looking to sell shares. carol: that is on top of what is really kind of an illiquid stock considering much of it is not in the hands of public investors. >> yes, absolutely. one of the options for traders would be to go abroad in such cases, but again, there's a problem when it comes to aramco of the less than 0.2% stock is held by foreign investors, so even if traders find shares they can borrow, the borrowing costs are going to be very high. that's a problem, too. anyine: is there

possibility people can find an end run around this. we have seen in the past you can move to the options markets or find some sort of derivatives to essentially see -- essentially achieve the same goal. >> there something called have a choice, which is quite common, but again, in aramco, there's not much room, memo because there are no publicly traded aramco options. if you want one, you have to go and get an over-the-counter product, which again will be very costly. it's going to increase your risk massively, and all that is a problem. good bet is -- is it a to even take, a short bet against aramco? >> the stock is up about 10%, and some analysts say a near-term peak is this close, but at the same time, you have to remember the saudi government has effectively guaranteed the investment of saudi citizens who

have invested in the stock, which kind of signals they will probably intervene if the market falls. carol: not a free slow, not like most publicly held companies. fascinating thought and a fascinating idea to kick around. thank you so much. really appreciate it, talking to us about aramco's record ipo. just a reminder, s&p 500 ended pretty much flat on the day. you are listening and watching "bloomberg businessweek." ♪

>> here's your latest bloomberg's business flash. the man who claims he invented the largest cryptocurrencies as he may not be able to abide by a judge's order anytime soon.

a federal judge found that the australian scientist submitted false documents. he owed another man half of all his bitcoins he had mine for 2013. he tells bloomberg news he is not sure he will have the information in time. banks around the world are unveiling the biggest round of job cuts in four years. more than 50 lenders have announced plans to eliminate more than 77,000 jobs. european banks make up more than 80% of the cuts. morgan stanley is the latest to issue pink slips. about 1600 jobs have been slashed. a top executive at domino's pizza has died in an accident. he was the chief financial officer of the franchise holder for the brand in the u.k. and ireland. a company spokesman says he died while on vacation with his family.

the death comes days before the chairman plans to step down and the company is seeking a successor for the ceo. a supposes market value of as much as $120 billion. but all of that changed during their debut, dropping nearly 11% in the first two days of trading. while words like debacle were being thrown around, the ceo remained optimistic. can control how you execute as a company. but we believe that our business can and should be profitable. >> promising that the timeframe

would be 2021 and people agreed. >> investors want profitability. >> i don't see that as the end of the road. i see it as an important milestone. it was an achievement in terms of making that company available. >> since then, the stock price has hit a record low in november, and despite a andnsing battle in london, more than 3000 sexual assaults on a platform last year, uber remains optimistic. >> we are confident of that. but the next few years are going to be about growth. >> khosrowshahi spent the year cost-cutting, shedding 1000 jobs and rearranging uber. and after watching other companies look lackluster since going public, khosrowshahi is now thankful for that debut, telling investors that, thank

god we went public when we did. and that was bloomberg's taylor riggs taking a look back on tech ipo's and uber in particular. in 2019, the expectation for these big ipo's, it was supposed to be the year of the unicorn. but as uber demonstrates here, not so much. we have some other names that are hurting quite a bit. take a look at beyond meet, one of the unicorn names that has done well since its ipo. uber and lyft are clearly the bigger losers. uber down 33% year-to-date. lyft down 36.3%. why are these called unicorns? in terms of the mystical animal that you wonder if it exists, that can be true for these companies.

should they be trading at huge valuations? investors may suggest not so much. from new york, this is bloomberg. and this is bloomberg businessweek. we are live on bloomberg radio and bloomberg television. carol massar with romaine bostick. we are going to talk about crowdsourcing. we know tech companies are struggling to find talent when it comes to the technology space. excellence,ter of they are working to really connect the government agencies to the global gig economy. let's get some thoughts on that. joining us on the phone is the deputy director. steve, great to have you on bloomberg. tell us about how you guys are putting crowdsourcing to work. >> absolutely. we've been working for about nine years now with various

platforms around the world than we currently work with about 18 different crowdsourcing platforms or companies that represent about 70 million people worldwide. it has been a great way for us to tap into the cutting edge talent that is out there. hard to find a lot of good software talent and data science talent. we are augmenting a lot of our projects by running crowd source challenges, where we will push the project out there and companies that have software enthusiasts, a lot of passion around software and data science, will help us with our projects and get us what we like to think of as a much better starting point. romaine: steve, this is a fascinating project. one thing that i thought was interesting, we've seen over the years with some of these challenges, the people who

essentially win these challenges aren't always necessarily experts in the particular field that you are seeking. if it is a chemistry project, the winner might not be a chemist. steve: when you get into the innovation areas, what we found is that actually diversity played a really key component to solving those problems. a lot of times there is technology that is being developed in other industries that actually can apply. we just needed somebody to help us translate that. the crowd is a really great way to find those people that know how to translate solutions. thel: how much of crowdsourcing is also about bringing people from overseas and different countries? steve, you probably know this as well. the research has been out there. when you have a diverse

workforce, you get stronger ideas. , wheno turns into companies care about profitability, it pays off. steve: sure. we do challenges that are both u.s. only and we do a lot that are worldwide. we can tap into everything that is going on around the world. there is a lot of exciting stuff going on in technology. these crowdsourcing challenges allow us to bring those technologies and ideas back to our projects. we kind of think of this as the best way to scout the best ideas and the best talent and leverage that to do great things. romaine: can you give us an example of some of the challenges? a few years ago, you had something called the asteroid plant challenge. was that successful? asteroids come in all

shapes and sizes. ,ome of the really big ones can't guarantee that they are not going to affect us someday. it is a challenge for us to find them early. comparedfairly small to planetary bodies or stars. they are really hard to find in the night sky. coder ran that for us and found an algorithm that was 15% better than what we had and they wrapped it up in a standalone a pp that amateur astronomers could use to help us. carol: one of the stories that caught our attention today, china lost a rocket. it really shows their ambitions to reach mars and be involved in space exploration. think istant do you going to be collaboration among

countries to avoid some kind of tech cold war? steve: absolutely. clearly we are in favor of collaboration. international space station is a great example of the international community coming together around a really big effort. we are hoping that continues. it is a competitive world. we are trying to stay relevant. all right. we are going to leave it on that note. ofve rader, deputy director nasa center of excellence for collaborative innovation. >> i'm mark crumpton with bloomberg's news. ireland issued more than 900,000 passports in 2019, a record high. applications from citizens in the u.k. surged amid brexit uncertainty. people with an irish grandparent

or those born in northern ireland also are entitled to get an irish passport. that makes it the choice for many u.k. citizens seeking to retain an e.u. passport. the busiest months for applications where february and march. koreais calling on south to help close ties between the two countries. this comes just days after japanese prime minister shinzo abe and the south korean president met in china. the two leaders agreed to turn down their feud, though they made little progress in resolving disputes. the icy relationship affected tourism, trade, and security relations. the transition period for the u.k. exit from the european union may take longer than originally thought. the european commission president tells a french newspaper she's worried by how little time is left.

prime minister boris johnson is pushing for a long-term trade deal to be wrapped up by the end of 2020. she says that is optimistic. violent protests continue in india. paramilitary and police forces were deployed in muslim majority districts in a north indian state today. officials also shut down the internet. protesters have called for the revocation of a new citizenship law that excludes muslims. the philippines has banned u.s. senator dick durbin and patrick leahy from entering the country after the two introduced a provision in the 2020 budget that would prevent filipino officials involved in the incarceration of a senator who has been critical of president rodrigo duterte from entering the united states. manila said it will impose restrictions on americans entering the country if washington pushes ahead with those sanctions.

after a landslide primary victory, israeli prime minister benjamin netanyahu is looking ahead. he will need a big win in march to stay in office. his best hope of escaping prosecution charges is to gain a majority in parliament that is willing to grant him immunity. the march vote will be the third in israel in less than a year. more than 300 people were arrested in hong kong over the christmas holiday. store windowsshed while police responded with tear gas. authorities say those detained include children as young as 12. nearly 7000 people have been detained since protests began more than six months ago. hong kong is bracing for more disruption into the new year. global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. carol: the biggest u.s.

marijuana company with a market value of about $2.5 billion, the executive chairman spoke to bloomberg businessweek on december 9 about the outlook for cannabis in 2020. >> i think it is going to be a continuation of the u.s. story. it is a bigger market. the u.s. companies are turning profitable. i think the numbers are going to be quite big and staggering. i think that will get recognized not only by washington, but also by the markets at large. investors have largely avoided cannabis until today. i think you will see a lot more get involved. >> talk to us about the big companies getting involved. there have been some twists and turns with some of the bigger u.s. companies. some making investments. the sort of consumer

package goods market get more involved in this? how important is it that they get involved? >> i think they are all going to get involved. hired joe, who ran dr ss water,napple, vo seagram company. these are guys that are built to run big businesses, that understand brands and supply chain. you are starting to see more of those people enter this market. the reason they are coming before the big companies is because we are still federally illegal. i think you are going to get two pieces of legislation in 2020. once you get the states act, you start seeing the multinationals take a hard look at cannabis. abigail: that was pure leaf executive chairman boris jordan

speaking with carol massar and jason kelly on december 9. when you think of these stocks and etf's, you may think of a bubble. take a look at this chart. in 2016.d back from those levels to the highs in 2018, up 70%. this year, down 333%. see whether or not investors can recoup losses in 2020. from new york, this is bloomberg. ♪

carol: this is bloomberg businessweek. carol massar along with romaine bostick. jason and i like to wrap up our week with a little bit of bubbly or wine. this is the season, everybody talks about champagne, but what about ringing in the new year with a little bit of wine? romaine: i concur. when they asked me to fill in for jason, i said, will there be

wine? carol: the director of portfolio management for wine joins us. he has thoughts when it comes to pairing wine for your new year's celebration. everybody talks about champagne, but there are so many great choices out there. >> the choices are practically unlimited. sometimes you can ring in the new year with a little wine or a lot of wine. that is what makes this fun. we chose to look across. we talked about taking a different approach from champagne. we are going south to italy. we are going to tuscany. the reason we are doing this is because not everyone wants to eveningarkling wine all long. some people don't react well to the bubbles. others like to draw out the evening. carol: what i love about our conversations is that you keep reminding us that you don't have to spend a ton of money.

tell us what you brought. >> i brought a range of wines tonight, all from tuscany. because, like you said, you don't have to spend a lot to have a great bottle of wine. but this is new year's, ringing in a new decade. it is an opportunity to splurge a little bit. whitegot three wines, a from central tuscany. this, what is most important about it is the winery is the leader for the production of this grape. carol: romaine, this is where you can join us. >> this is an organic wine. grapeerful mediterranean variety. it gives you plenty of complexity. lots of salt. you can pair this with oysters, with salmon, all the things that you would lead into a sumptuous

new year's meal with. and going through the rest of the lineup, we've got a red wine . the reason i picked this is because one of my favorite winemaker quotes from tuscany is the breast ofs the sea. this comes from a place where you get that effect, a coastal outpost about two hours from vienna by car. here we are looking at a benchmark winery. tos has now given birth countless well-known highly rated super tuscan wines. carol: is that this class? >> that is that glass. this is a blend of red grape varieties. you hear about red blends frequently in the wine media. carol: that is an easy wine. >> it is full and robust. romaine: what is giving it the flavor there?

you say by the sea. >> it is a combination of a lot of things. it has been compared as italy's napa valley because of the quality of sunshine. that light that is hitting the mediterranean reflex into the hills. you get tons of rightness here with a robust structure that plays well with the acid. carol: you like the italian wines. we talked a lot about it. romaine: what do you eat with this? >> with this one i would go with anything on the grill, and particularly in tuscany, we are talking about the t-bone cut of steak cooked over the coals until it is very rare. maybe garnish with a little bit of rosemary and olive oil. this is a blended wine. this is cabernet sauvignon merlot, which are not typical italian varieties.

lamb works. unlike most wine, this wine also grapens tuscany's central , but not typically planted in this part. carol: the white here is about $20 a bottle. and this red? , one of the most important wines from coastal tuscany, $100 per bottle. which for one of the most highly rated wines from italy is a tremendous value. carol: and the third one. >> this is really when you get into a collector item. we wanted to bring something that was going to wow everybody. we wanted a chance to taste something really special. -- itine is from a winery is already an apple, one of the pinnacles of italian wine.

it is something indigenous to italy. likeis special about it, good pinot noir, is the fact that it translates very small nuances in soil and climate condition and in winemaking style and approach that allow you to have wine grown within meters from one another that are worlds apart. isis unlike any other and it historically unlike any other. ringing in a new decade, giving a gift, finding something to lay down, this is the wine you want. carol: i would love to turn about the growing. you said a tiny plot of land and limited quantities. you talked about how they are able to grow things next to each other, but they have distinct tastes. the area whereat the wines are produced as a

circle and you divided into quadrants, this is approaching the southeastern part of the appellation. it is an area that is fairly highly elevated. it gets a lot of sunshine. typically produces wines that are broad shouldered and robust. the uniqueness of this wine comes from the fact that there are three plots at three different altitudes. over 120 different types of the same varietal growing in these three different plots that are blended very carefully. carol: a lot going on. romaine: if we were trying to pick out this on our own, and i know carol probably has you on speed dial, but when we are going into the store, should we be looking at the vineyards or the regions or the grapes? >> these wines are produced in accordance with traditions that go back centuries.

tradition. the that is what is special about them. they speak to the place they come from. if you like this style, this one is unique, but if you like the style, you will probably like other wines from the same area. it is not so much about the grape. carol: what are you drinking for new year's? >> i'm going to be drinking these and a little bit of champagne. carol: what do you pick? >> that is a loaded question. going off the record, i love the producer -- carol: you are on the record. you are on a broadcast. this is really fun. you keep bringing different types of brands and different price points and it is really fascinating to see. thank you so much. happy new year. >> thank you for having me. for anyone interested, you can find them at wine bow. carol: we have to run.

check it out. romaine, this has been a lot of fun doing this. romaine: happy new year to you. bring more wine. carol: happy new year to everybody.

>> i'm taylor riggs in san francisco and this is bloomberg technology. coming up, a record-breaking season. shows gainsperiod for online retailer amazon as the company says billions of items were ordered by customers. netflix, we've got gene munster with us to talk 2020 predictions. and