hi, everyone, welcome to "on the money." i'm becky quick. republicans win big on elections day. what does it mean and the jobs report mean for your money? he's one of the richest and most successful investors around. he tells us if he thinks stocks are still cheap and when he thinks the dow will hit 60,000. how west point is reinventing the way it teaches history, with a digital textbook. if you're looking for a job, how to dust off that resume and why you need to think social. "on the money" starts right now. >> announcer: this is "on the money." your money, your life, your future.

now, becky quick. >> here's a look at what's may making news as we head into a new week. the unemployment rate stands at its lowest point since july of 20008. the economy created 214,000 new jobs in the month of october. that was slightly below expectations. the unemployment rate fell to 5.8%, the lowest in six months. stocks continued to hit new highs during the week. the dow, the s&p 500 both getting a mid-week bounce. the markets were mixed at the end of the week. crude oil keeps dropping hitting a new four-year low this week and plunging below $80 a barrel. it is due in part to weakening global demand and increasing american supply, not to mention the stronger dollar. still big earnings new this is week. chinese e-commerce alibaba beating expectations, so did

tesla. 21st century fox, timewarner and cbs coming in ahead of predictions. if you're waiting for a special delivery from amazon, you might want to keep an eye out for a cab. they're testing special deliveries by cabs on the west coast. the market set new records and it's all about jobs. what does it mean for your money? joining us, ben white from politico and jason trenard from stategis investment partners. thank you for being here. jason, let's take a look at what happened with those jobs numbers. not as strong as some people had been expecting. revisions were pretty good. >> revisions were pretty good. the unemployment rate is 5.8%. the participation rate is actually picking up. the u-6, the underemployment rate, is actually at a level where the fed started tightening in 1994. all these things are good. they're certainly going in the right direction.

and i think one of the things that will be important for the fed, obviously wages. those are still restrained but it looks like wages have bott bottom bottomed. all in all, a good report and in the right direction. >> a good report in the right direction. ben, how do we explain what we heard from the exit polls over the last week. people walking into those polls, walked out saying the thing they were most concerned about was the economy. >> yeah. people are very upset and they're upset because of the wage number we saw in the jobs number, 1.5%. it's not good enough. people are unhappy with the economy, the president, his performance. that's why we saw republicans do as well as we did. took the senate, took governor mansions in massachusetts, illinois, a lot of blue states. this was not a vote of confidence in republicans. it was a vote of no confidence in the economy. i'm a little pessimistic they'll be able to get anything serious done. >> what could we look for from a policy perspective? what should we look for and then what can we actually really expect? >> i think the things that are possible to get done are some trade deals, republicans and democrats may want to deal on a

trade deal with asia, with europe to give the president fast-track trade authority. you could see some movement on corporate tax reform, which would lower the overall rate, close some loopholes. obama will come out with a unilateral immigration move. that will upset republicans. i think there's a very narrow window for bipartisan movement on tax reform. i think it will close real fast. i don't think we get there. >> jason, let's play that out. one of two options, either there are a few things that get done or there's gridlock again. what do those scenarios mean for the market? >> i think the good news from a market perspective is that the bar is so low and the expectations are so low, that anything -- >> oh, boy. >> -- that gets done from washington -- >> that's a sober lining. >> so it probably doesn't have much of an impact on the markets. really an opportunity cost more than anything else. there are other things, a medical device tax that could get repealed, keystone pipeline

could get through. i don't think it hurts the market. i think it's mostly upside, mainly because you've had gridlock for such a long time. >> the one thing you can hope for on gridlock front is the lack of confrontation over the budget and debt ceiling. one thing we want to look for, and mitch mcconnell said it's his main goal to get the congress working, get the senate working, vote on things, not have a threat of default. if they can deliver on that and not do any negative hits to the economy like we've done in the past, that's beneficial. it certainly won't hurt the way we've done it in the past. no self-inflicted wounds would be the best to hope for. >> jason, you take all of, this the election, oil prices, which have been incredibly low, you take what you've seen with the jobs report and kind of throw that in with the economy. you add it all up and what do you tell investors right now? >> we're actually quite optimistic, but it's really despite what's happening in washington as opposed to because of it. i think lower oil prices are

really -- certain parts of the economy that might feel the heat from, it generally speaking. u.s. economy, 70%. consumer spending, the propensity of savings from lower gasoline prices is quite high. i think that's good. the job pictures is better. i think one of the things people might miss or forget is that earnings are at all-time highs. the market is at an all-time high, so is earnings. in a world in which you're getting 2.30 from a 10-year treasury, 2.30% from a 10-year treasury, they look very compelling. a third of the companies in the s&p 50 have higher dividend deals than u.s. treasuries. i'm quite optimistic. and i think multiples continue to rise. the biggest risk is if you get higher inflation. and i don't see that for a while. we don't see that really for another year or two. so, we're -- >> let's cross our fingers. >> we're pretty optimistic. >> we could use a little age inflation. >> no, i think that would be

great for the economy, too. thank you both for your time. up next, we are "on the money" -- secrets from a mutual fund guru. what john barren looks for when he invests your money and his. later, history goes high-tech. how west point is moving to the top of the class with an innovation born out of centuries of tradition. right now as we head to break, take a look at how the stock market ended the week.

legendary mutual fund manager with both his money and his clients. i spoke to him this week with the investment conference which boasted the theme, built to last. you could say that about his

portfolio of funds and of his career. >> when i was 14, i had saved up money, 13 or 14shgs, i saved up money. i was allowed to invest it and i had to give it back when i went to college to pay for college. so, i was on my own. i became interested. there wasn't anyone who was really the person who got me interested or turned me on. one of my uncle was the professor of engineering. when i was in law school, he said, listen f you're interested in the stock market, i know your dad doesn't want you to do this, but if you're in the stock market, you need to read this book. i read this book by joseph granville, a little crazy man, but at one point in the book it was very interesting to me about that everything is the opposite of what you would expect. the news is bad, you're supposed to buy. when news is good, you're supposed to sell. so, everything about it was interesting. >> what's the secret to your investing decisions? how do you pick a company?

how do you pick a person? and how do you know that this is who i want to bet on? >> i tell people when i describe our process about being about people, that we invest in people. i say, it sounds complicated but it really isn't it. it's something you do in your life from the time you're a child. you go into kindergarten, you know who you like, who you trust, who's the smartest kid in the class, who you want to be your friend. that's all this is. give them an opportunity, and then it comes down to people. doesn't matter how big the opportunity, how great the advantage, if it's not something that can happen, it's not going to happen. i didn't start out being a long-term vinnester. how could you? you just try to buy something less than it's worth. it goes up in value and you sell it. i started making these investments. so, it was federal express, nike, disney, mcdonald's,

mattel, all these companies -- hyatt, all these businesses i was investing in, and i would be making -- i was a stock broker. i did research and sold it to brokers. if someone was famous, i made them a customer and then i sold them my research for commissions. so, i got paid on the basis of commissions. so i'd recommend a stock to someone and then it would go up two, three, four times and then i would say it. then i get a commission on the other side. then what happened is that, an idea month, and then what would happen is i would look back after several years, i looked back and said, oh, my god, i could have been rich. >> if you just weren't selling them. if you had held onto them. >> but i didn't have very much money. i had a negative net worth in 1970. >> a few years ago you said you thought the dow would go to 60,000 in 20 years. do you still think that's the case? >> yes. >> because? >> the economy has grown since 1960 at 6.8% a year. so, the economy in 1960 was $520

billion. it's now $17 trillion. so, the economy in the united states in 1960 was worth less than apple is today. that's the united states. and the stock market, the dow jones in 1960 was $600, now $17, $17,300 at 6.4% a year. that's depression, inflations, terror attacks, wars. 6.8 prsz 6.8% a year for the economy. it's not like this, it's like this. so, what i think is -- and when you add in dividends, it's 8% a year. what that means is the stock market doubles every ten years. and it has since 1960. i don't see any reason it's not going to keep doubling every ten years. i think the economy is going to double every ten years. think about what's different than it was before. telephones -- i can't believe i missed apple, you know, with my

kids, the iphone comes out and all of a sudden, my kids, all they do is spend time sitting there with a stupid iphone by the swimming pool and just -- and learning how to do it. and trying to beat each other with it. and so the changes that have just taken place in our country in such a short period of time. and this is not, you know, continuous growth. this is exponential growth. >> my thanks to ron baron. up next, we are on the money looking at the future of education by taking a few lessons from the past. how the u.s. army is ahead of the curve when it comes to creating future leaders. >> our motto at west point is much of the history we teach is made by the people we taught. >> and later, could your resume be sabotaging your job search? how do improve your chances of getting a better job, another job, or just getting hired. stamps.com is the best.

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on the code of arms at west point military academy is duty, honor country. can you add to that innovation. west point took a required history course and rewrote the book, literally, thanks to a legacy of engineering and a taste for entrepreneurship. ♪ >> our motto at west point is much of the history we teach is made bit people we taught.

>> west point military academy may be an unusual place to find a tech startup. this is about 200 years in the making. >> we have been teaching military history here since 1818, the history of the military. eisenhower took it, pershing took it and patton took it. he wrote down in his textbook what he thought. >> what was the strategy? we have completely revolutionized it to be all digital, to make it mersive, to make it an experience of war, tactile. >> it's the first time i've had a full textbook on ipad. it has the interest greated movement, lots of graphics. >> they allow to you see how the commanders placed their troops, how they flanked and maneuvered against their enemies. it really does bring history alive. >> we have a book in the department of history that goes back to 1969 that records every grade from every class. there was a 46% increase in the percentage of as. 46%. over the five-year running

average. >> warfare, plato to nato, this textbook looks and sounds all 21st century. >> we want to keep the smell of gunpowder in the course. >> since west point's earliest days as a hudson military defense site, tactile training is key. >>fy went to yale or harvard, they would teach the classics, greek, latin. here we were a practical school for engineering, for math, for sciences, and that's really our heritage. the business of creating a business is not our business. >> but it is the business of rowen technology solutions, a company founded by west point grad and florida panthers owner vinny viola. executive chairman of high frequency trading firm virtu financial. his investment of a few million dollars kick-started the project. >> i think of a high-tech company with west point, how did that first take place? >> west point essentially approached us and said, hey, we really want to rewrite military

history, bring it into the 231st century. really the project started with some kind of purely fill an tlopic roots. >> we wanted an endowed textbook. we needed a sustainable model where at least some of the revenue would come back in. >> this is the enter active right here. >> let's look at ohio. >> there's ohio. >> that was a quiz. i wanted to make sure you know where it is. >> this just shows you the white male population, 473,000. go to one of the more populous southern states. >> there were more slaves than white males? >> yes. >> living in south carolina at that point? >> uh-huh. >> with military-like precision, it took three semesters for west point to take thousands of years of history -- >> we wrote a million words, we did a thousand new maps, 49 authors. >> and get it into the hands of 1200 cadets. >> that's who we beta tested it with, 1200 cadets. a beta test is supposed to be a small sampling. we didn't do that. >> i imagine there are a lot of

people who aren't military who would love to get their hands on something, just history buffs. can they do it? >> we've come out with the west point history of the civil war, which is six chapters of the 71 total works. it's available for any platform or device you have. >> it's not like sports. it's not like law. war is complex. and we as an american people are not militaristic but we go to war a lot. so citizens need to understand war to be good citizens. >> special thanks to the west point band, whose music you heard throughout our piece. and west point plans to continue its content creators, developing future chapters of military history for consumers as well as working with other universities. we want to take this opportunity to wish happy veterans day to all those who served. we appreciate your service. thank you. up next "on the money," a look at the news for the week ahead. 23 you're looking for a promotion, a better job --, your resume is only half the battle. big day? ah, the usual. moved some new cars.

hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. i take prilosec otc each morning for my frequent heartburn. because it gives me... zero heartburn! prilosec otc. the number 1 doctor-recommended frequent heartburn medicine for 9 straight years. one pill each morning. 24 hours. zero heartburn.

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it's free of flavors and colorants. for a closer feeling to natural teeth. fixodent. and forget it. for more on our show and guests, go to our website, otm.cnbc.com and follow us on twitter. earnings reports continue with retail giant -- forever young on monday, the children's show sesame street turns 45 years old. wow. also honoring all who served, tuesday is veteran's day. on thursday, the treasury budget comes out.

friday october retail sales figures are released. that's an important number because 70% of the u.s. economy is based on consumption. also on friday, the kurm sentiment report is released. a great sign for all those seeking employment, the u.s. added 214,000 new jobs to the economy last month. if you are looking for work, a promotion or even another job, right now might be the time to dust off that old resume. but getting through the door takes much more thought and preparation than in years past. our personal finance correspondent sharon epperson joins us right now on what you need to know about your money and your future. hey, sharon. >> how are you doing, becky? a lot of people don't understand hiring managers will spend five minutes or less looking at a resume. >> i bet it's even less. >> probably less. so it's really important that you come with your best foot forward and that you really understand that you're presenting yourself, you're marketing yourself to this potential employer with this piece of paper, with the online resume, with your linkedin profile so it has to be a great reflection of your

qualifications and what you can do and what you have done and what you could potentially do for the company. >> if i have, let's say, less than five minutes, what do i do to make sure that my resume stands out? >> one things that are given, it has to be in chronological order, needs to be foremated consistently, with bullet points, tailored to a specific industry. but there are other things to perfect the resume. one of the things is to make sure you summarize what your qualifications are right at the top. let folks know what you have done, how many people you've managed, what kind of budgets you've had, your industry and your focus is. and then look at providing more detail in those bullet points and quantify those details and making sure that you use keywords that are relevant to the industry, because often these resumes are submitted electronically. sometimes there's a tracking process they go through. and they're looking for -- maybe in the job description. use some of them in your resume. >> you have to know how to speak the lingo. >> definitely know how to speak

the lingo. >> what about bad resumes? >> well, one of the worst things you do is have one people can't read or there's not enough information on there for people to think you really want the job. if you have a lot of white space on your resume, too crowded, the fonts may not work if you send it in electronically. you also want to make sure you don't just have a list. you may have had ten jobs at a company. what are the two most important results that came from your work there. that's what you want to show. we are living in the digital age. and i know managers who as soon as they get someone's resume will go look them up online and check them out. >> you have to have a digital presence. have you to know what your online presence is. >> you to want make sure you have a linkedin profile, that you're on facebook, you're on twitter, that you're blogging as well if you can write blog posts on linkedin so people have context about what you're all about. realize a lot of the submissionings, a majority of them for resumes are digital, online application for for the company and you want to make

sure your resume reflects that and it's easy to read. that gives you the opportunity to do things like hyperlinks to publications you've been in. >> i guess it's good to be out there digitally, just not too much. you realize people are going to be looking at your facebook. >> i'm amazed how many people don't google themselves before a job interview. sometimes maybe nothing will come up. thap can be a problem also. you want to have some type of digital presence. but if there's something negative, you need to know and you need to be able to explain that right away. >> sharon, thank you. >> sure. that's the show for today. i'm becky quick. thank you for joining me. my show next week, the woman behind birch box. have a great weekend.

>> narrator: in this episode of "american greed"... husband, father... >> i was just a good person trying to provide for my kids, trying to do the right thing. >> narrator: ...bank robber. >> i passed out on the kitchen floor. i said, "you have the wrong man. not my husband." >> narrator: it's a second career far away from the manhattan trading pits where he once made hundreds of thousands of dollars. >> he was a commodities broker doing bank robberies. just didn't fit. >> narrator: now his life, and the lives of those who know and love him, change forever. >> my pride and my ego just