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tv   The Willis Report  FOX Business  September 8, 2014 5:00pm-6:01pm EDT

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david: we love the companies. gerri willis is here. new gadget, new machine that could make your dry cleaners obsolete? gerri: that's right. hi, there, liz and dave. if you are a rewearer, stretching out the time between dry cleanings, p&g has a machine for you. a schwab. we'll have onset dem low -- swash. new report on just how much bank and investment fees will cost you. we'll talk about changes that could save awe smart fortune. we'll have the latest on a new respiratory illness sweeping several states. some cases are severe enough to send kids to the hospital. on the eve of apple's new iphone, we have got some great ideas what to do with your old phone. you may be surprised how much it is worth. "the willis report" where consumers are our business starts right now. gerri: 155,000-dollars.
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how much a new report say consumers pay over their lifetime in fees to financial service companies, from bank fees to investment fees. when you look at them individually they may seem small, a fraction of a percent. but here and there, but those fees add up to new i popping number. for more on the number what you can do to pay less, ric edelman, ceo of edelman financial and also claire, who is the author of the book, frugal is not cheap. get to what the fees are in just a second. first, $155,000, that is more than most people have saved for retirement. what do you make of that number? >> yeah, it is shocking, gerri. i think one of those cases where you're dying by a thousand cuts. i don't think anybody notices to pay much attention. it is penny here, a dollar there, over a lifetime it is astonishing how much it adds up to. i don't think anyone has noticed. gerri: 760 bucks each and every
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year in fees. i turn to you now, when you look at these numbers, what do you make of them? i mean who is charging them? seems to me we should be in the business of figuring out how to pay less. i believe we can. >> $155,000 is a lot. not all fees are bad. that sound strange. there are at love fees we paid for because we decided it is worth it to us. gerri: what fees do you advocate, claire? >> problem happens, for example, you pay a fee for to ticketmaster, if you want the tickets delivered electronically. but you're making a conscious decision about that purchase. the problem is these fees are happening and people aren't paying attention so they -- gerri: that is absolutely true. >> not making conscious decisions on their money. gerri: let's focus though if we can on financial fees, bank fees, fees charged by your 401(k). i said total you pay over lifetime is more than most people saved for retirement,
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ric. what can folks do to reduce cost of retirement savings, manage retirement saveings? >> the good news, gerri, it is easy to fix this the world of mutual fund has changed dramatically over the last decade or some now you have index fund that are dirt cheap. you have exchange traded fund, equally inexpensive. the average retail mutual fund costs 1.3% per year. but the typical exchange traded fund is not 1.3. it is 0.3. you can save massive amounts of money. the department of labor says by cutting your costs from 1.3 to 0.3, increases your retirement balance by 28%. you can create hundreds of thousands of dollars shifting to index fund and etfs. you get the same results at a dramatically lower cost. gerri: dramatically lower cost. rick, we had guests on the show that people waste $70,000 paying fees for retirement fund, 401(k) fund they don't have to.
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obviously there is a lot of money to be saved there. >> right. gerri: claire, to you, i want to turn to credit cards. you made point at top people pay fees they don't have to. imagine debt on credit card of 5,000 bucks and making minimum monthly payment of 200. average interest rate is 16.5%. the total in interest you would pay over the term of paying off that debt would be half of what you owe, and repayment period is 10 years. that is just astonishing. what should people be doing with their credit card debt? what i say in my book, people need to remember these three words. everything is negotiatable. so, you need to be doing your research. what are the fees for comparable services? do your homework. shop around. don't be afraid to be assert tiff and go back to companies you want to do business with and ask for reductions or elimination of fees. >> you can ask for reduction of fees. ask for reduction in interest rate you're paying.
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at end of the day, faster you pay less you will pay. i know that is true. rick, i want to go back to what you were saying about 401(k)s. we have a grateful screen and i want to share. if you're paying half a percent on fees on 401(k), 35 years that is $227,000. if you pay 1.5%, it is 163 thiazole. so, big differences depending what you should pay. what is right amount of fees to pay on 401(k)? >> in investments, in your 401(k) and other savings accounts, and such, you shouldn't be paying more than one-half of 1%. for many of your investments, you should be paying dramatically less, .2 or point .3%. it is not expensive to manage money these days. buying exchange traded fund doesn't cost what it used to cost. thanks to technology and computers. it is really inexpensive.
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you should not pay exorbitant expenses is. dealing with a stockbroker or insurance agent or advisor banker, they get you high expensive investments and how they get compensated. shop around, talk to advisors who offer you very low inexpensive alternatives. gerri: like i said at the top of this interview. fees are high. you can pay virtually anything for services. up to you to make sure you get the best deal. rick and claire, thank you for being with us tonight. really appreciate your time. now we want to know what you think. here is our question tonight. do you pay too much in financial fees? log on to gerriwillis.com. vote on right-hand side of the screen. i will share results at end of tonight's show. from your financial health to your physical health, we are turning now to a serious medical mystery that is affecting hundreds, if not thousands of children throughout the midwest. a rare respiratory virus starts out similar to a cold but it could turn deadly. with me now, dr. mary jane
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jackson. she is director for infectious diseases at children's mercy hospital in kansas city, missouri, which reported nearly 500, 500 suspected cases of this virus. doctor, welcome, great to have you here. you've said that you have practiced 30 years in pediatrics and you have never seen anything like this. describe this virus to us? >> so this virus had its onset probably mid-august and we were seeing children with unusually severe respiratory track infections that resulted in unusually severe asthma attacks, placing children in the hospital and children into your critical care unit. >> okay. so, super serious. you've had hundreds of kids right there in missouri. my understanding missouri is ground zero for this disease. what is it? is it kids going back to school? what's going on? >> well i'm not sure. i'm not sure that kansas city is
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ground zero either. i think at time we identified these children it was very early in the epidemic but we had links with your cdc collaboratives and were able to define the virus as 68 early on. the chief of emergency medicine, greg connors and one of my partners place ad query on serves that go to pediatric emergency medicine and infectious disease doctors across the country. we realized very quickly they were seeing same thing we were seeing. gerri: slow down for a second. we're trying to keep up with you. lots of lingo there we don't necessarily understand. what i hear you saying is this thing is all over the place, not just missouri. >> correct. gerri: colorado, georgia, ohio, kansas, oklahoma, kentucky. a lot of people affected. there are people being affected all over the country. tell us more how this thing spreads and whether there is solution. is there a vaccine?
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how are you treating the kids? >> the virus is spread by person-to-person contact and the precautions that we're using for hospitalized children are both contact and droplet. but any type of interaction that brings close contact with children will likely spread this virus. now, there is not a vaccine. there is not an antiviral. there is medicine for influenza. we have neither there. all the care is supportive. which means for children most seriously ill we're providing oxygen, bronco dial late tores, steroids and other modalities. children in the intensive care unit, non-invasive ventilation in our facility. gerri: okay. >> for parents this is wide spectrum, we know children, many are having as simple of a system as a common cold. say that based on number of children we're seeing in outpatient setting. many, many more than what we're seeing admitted, even in the peak much our disease we were admitting, perhaps, 30, 32, 30
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three 35 children per day over intense short period of time. gerri: doctor, what makes a difference between someone who get as severe cold from this enterovirus d-96 and who gets really sick. enterovirus d68. number one, 2/3 of children have asthma or medication and had asthma in the past and not on active medications. so we have a certain type of patient that is having more difficulty with it. but a third of our children were otherwise healthy. so certainly the children with more critical disease will be having underlying diseases perhaps, puts them at greater risk. as we see this unfold, we know for sure about half of our cases of children in our critical care unit, the disease has been confirmed, we suspect that 70 to 90% of those children of that
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other 500 will be the same disease, but the beyond that, there will be hundreds of children who are having simple common cold symptoms. those you treat just like a common cold. gerri: sure. doctor, quickly, we have to go, what is the warning signal i need to stop keeping my child home from school and need to get them to a doctor or emergency room? >> absolutely. so the children who came to our emergency room and admitted had difficulty breathing and the difficulty breathing was very obvious to parents. rapid breathing, labor breathing, sometimes with color changes. those are clear-cut changes that the children need to come to the emergency room. gerri: dr. jackson, thank you, great job. >> you're welcome. thanks so much. gerri: still a lot more to come this hour including your voice. your voice is important to us. that's why during the show we want you to facebook me or beat me @gerriwillisfbn. at the bottom of the hour i will read your comments. go to the website, gerriwillis.com. send us an email there. >> into one reporter takes a test drive as a car salesman
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next. market watch's charles pasy shares how his undercover work will make you a smart car buyer. there he is. ♪ new york state is jump-starting business with startup-ny.
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gerri: breaking news from home depot. the retailer just confirmed what we've been reporting for days, that its payment systems were in fact hacked into. home depot is now saying anyone who use ad credit or debt bit card in one of its stores in the u.s. or canada from april onwards could be impacted of the company says people should check their accounts to make sure all the charges are legitimate. if not, contact your bank or credit card company. again as we've been telling you, now home depot confirming its payment systems were hacked for better part of this year. we'll continue to follow the story and give you details as they break. now for something a little fun. when you're in a car dealership, do you know what is going through the mind of the fellow selling you car? you always want to know, right? he is here to tell us what happens. he was behind the scenes and posed as a salesman. what got into you? >> well, you know, i have a both
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a cousin and good friend who are car salesmen. and i guess i have always had a personal fascination with this, thought maybe i could one up them. gerri: you thought you could one-up them. you chose another profession that nobody likes. take a look at this "gallup poll." this is professions honesty and ethical standards. this is what americans said? nurses 82%. great school teachers, 70. on it goes, 20%. car salespeople 9%. >> right you went out and pick ad profession that nobody has particular faith in. >> they get higher rating than members of congress. they should be clear. gerri: that is a low standard, a very low standard. you went out of and started talking to these people. what did you find? what surprised you when you went to the dealership lot? >> what surprised me how much a car salesman has to know. i watts working at a toyota dealership. not just telling your customer, what is the difference between the camry and the -- gerri: they know that. >> there are six different versions of the camry.
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then you get into what kind of trim do they want and differ things like that. it is a very complicated thing. gerri: are you trying to tell me i should trust my salesman? >> i'm saying there is a lot of information they can provide. at the same time, a salesman is a bit of an actor. one of the first things i learned was, keep a roll of mints on hand. gerri: they all do that? >> not that walk around with bad breath in my regular life, the thing is, salesman, nobody will buy car from a salesman with bad breath. you have to be always essentially on. and it's tough. gerri: that is one of my problems. because i feel like it is always, so, so, are you doing a deal with us today, gerri? if not, i don't really have time for you? >> right. i will say the new model, part of this we're seeing if dealership community changed as so much as said, the new model they will let you walk out the door. you do not have to buy that day. i was told basically give every customer the option to walk out
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the door, to let them know they should shop around and get quotes from two other dealers at very least. gerri: holy cow. a couple things we want to get to very different and interesting. we're talking about used sales, car lot. we're not talking about a brand new spanking car you're buying. new thing is one price. >> right. gerri: tell me how that works and why they're doing it. >> well they're doing it because customers are tired of haggling. so a lot of car lots, you, you know, that are going to this model where you know, the price is on the car. you can't negotiate. there is a little bit of leeway in what you do from detroit. gerri: they are the prices? >> they are the prices. they are the prices. >> you say they are the prices but are they good prices? >> are they good prices? really depends, on lot i was working on i thought they were fairly competitive. the prices are high people will walk. gerri: you may not find out. >> that is part of the point, everyone comes in, 95% of the customers researched buying on
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internet. people know what the prices are. you're looking for differential between the dealer's cost and msrp. gerri: quickly before you go, one of the things on your list of things you should do when you're on a used car dealer's lot, say consider using a middleman. what do you mean by that? >> right. gerri: i think of middleman increasing price, not reducing. >> i think the opposite. when we talk about a middleman, a couple good companies. truecar.com, essentially what they have done arranged with number of dealerships around the country, certain pricing on certain cars. some say you can get better deal from the truecar price. costco offers similar service. there are sources you can use before you get to the dealership. gerri: charles passy, market watch reporter. it is interesting story. you just go anywhere, doen't you? knife fun, that's true. gerri: thank you so much. later in the show, it is eve of the release of the iphone 6. are you going to buy one? we'll show you the best way to
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sell your old smartphone ahead of the big release. are you tired of running to the dry cleaners, a new machine promises that it will shake out your clothes from wring cycles and make it smell like heaven. i will test out the swash. ♪ it's monday. a brand new start. your chance to rise and shine.
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p&g. welcome to the show. great to have you here. this is your new thing, the swash. what does it do? >> swash is 10 minute clothing care system. gerri: ten minutes? >> ten minutes. it will dewrinkle, fresh and restore fit of clothes and perfectly safe for the garment. >> say restore the fit. it will refresh it. are you washing it? >> you're not washing it. basically what you do is light tension on the garment. the device sprays this swash pod juice on the garment and that hydrates the fibers. and dries for ten minutes. within ten minutes it is ready to go. gerri: within ten minutes. that is amazing. your idea here, folks spend 750 bucks a year at dry cleaner, you can cuts price. how much is the swash machine? >> it retails for $499. gerri: 500 bucks. >> it is not nothing. it is pretty expensive but you say you can save a ton of dough. how many items will it clean at one time? >> for maximum performance and
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maximum wrinkle, one garment at time. to refresh, put two in. gerri: put two in especially if you're not as big as this guy. can i get it now? >> get it on bloomingdale's.com and available in bed, bath & beyond and best buy as well. gerri: who do you think you will sell this too? >> we have a lot of consumers interested in this. 90% have rework clothes. these are reworking consumers with challenges not being met today. consumers impromptu and want to go out now. one of the things sitting in bottom of the closet. i have a way to take care of it. 2/3 of consumers don't want to buy what they want to buy because they have trouble cake taking care of it. now they have a way to take care of things they want to buy. gerri: what i think with women's clothing and amply kays, you can't put that in the washing machine, sequence sown on. >> this is perfect for these type of garments.
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gerri: are these chemicals in here? >> no, that is water based formula. it has odor neutralizer in it. it has fast wetting. special chemistry fasts 30% fast irthan water and hydrates it quickly. gerri: does it get out there. >> it gets warm in there. it feels like out of the dryer type warm. gerri: we'll test this thing, ladies and gentlemen. mike will turn it on right knew. >> put the pod in there. gerri: that is very easy. >> just shut it. hit one button. gerri: is that the button right there? >> that is the button right there. it will show lights, one for each minute and want to get ready, see how many lights are left. you know it will be ready in two minutes. gerri: that is awesome. later in the show we'll open this up. after it is done you will see how well it works. mike, thanks for coming. you will be back later in the show. we look forward to that. next we have inside scoop what you can expect for apple's
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big event tomorrow. do you need extra cash for the iphone 6 coming up? we tell you how to get the best bang for your buck for your old iphone. stay with us. ♪. hi, are we still on for tomorrow? tomorrow. quick look at the weather. nice day, beautiful tomorrow. tomorrow is full of promise. we can come back tomorrrow. and we promise to keep it that way. driven to preserve the environment,
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gerri: all right, friends. the count down is on after months of anticipation, apple's big event is just one day away, apple is expected to break into a brand-new product category, and revamp a top moneymaking product. rumors are flying, we're setting record straight, with the scoop, tech editor pete pashel, thank you for coming on, breaking new ground, is it the iwatch? >> that is what everyone is expecting there is doubt on whether they would be in time, it is not going on sale for
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months but it looks like they want to do a big unveiling this is it. gerri: that is exciting. we'll talk about that technology in a moment. these launches, sell a ton of products, looking back at products as they are released overtime. you see how many units say sell. look at this. they fly out of door, iphone 6, anticipated what do we get? >> we'll see bigger phones, apple cannot ignore big screen phones any longer, they are popular, we'll see two designs, probably. one 4.7 closer to current iphone, and a 5-o 5.5 big screen helping them in asia, we'll see a new glass, sa -- sapphire gl,
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virtually unscratchable. that is a little bit in the slightly doubtful rumor but there is a lot of evidence that suggestions it will. gerri: i know i am supposed to be thrilled about the iphone 6, it is another iphone. what circ sighting is -- what is exciteing is this iwatch. >> there is a lot of talk about the iwatch with a ton of features, one that going to be able to use do mobile payments, i don't know if that -- >> this is made up, but particular look like this. >> you will be able to pay with stuff with your watch by waving in front of a kiosk. gerri: pete, come ohome depot just acknowledged they have a breach, why should i you know, be -- have confidence in a watch keeping me safe while i do electronic things.
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>> you are right to be skeptical. a couple things, near field communication is very short range. gerri: they almost have to kiss. >> about an inch, there is no way unless someone has physical access to your device they will be able to getting any off it. if they did steal your watch, the new watchs will use a new credit card technology, called toktokenization. if they had your; information they could not buy anything with it. it should be secure. gerri: a bigger ipad could be coming? >> in more questionable category. 12.9 inch ipad which has been rumored, not sure what market apple is attempting to get with that, a long shot it will appear tomorrow. gerri: if you are a geek here where can you watch life.
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>> on mashable, but watch it live on apple site, apple.com/live. you have to have anthropologie else device to see it -- you have to have an apple device to see it. gerri: pete thank you. >> my pleasure. gerri: rights here in new york city, hundreds of camping out in front of the apple stores, here and all over the nation, know it ipay--anticipateing that releas. in new york city dozens of folks are waiting some waiting confidence last weekend, guess what, there is a dirty little secret in the lines, some are not an el addicts -- not apple addicts, some are making a quick buck, some are being paid to camp out with a company's logo. if you were planing to get the iphone 6 and keep it, get money from your old gadgets first.
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a site called gazelle.com will give you cash. here with how that works gazelle's senior tech analyst alisa voris. thank you for comeing on the show, how does this work. >> so easy, you go to gazelle.com, find your model, answer a quick question about the condition, you get a price, if you accept it, we send you a box, pay for shipping -- we pay for shipping, pop it in mail, we will expect it and send you a check. gerri: how many dump their old iphone? >> about 50% of small phone owners -- smartphone owners' the new iphone, weurureur we are anticipateing a blockbuster year for iphone trade ins.
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>> look at this, like sliding off a chair, straight down, you lose value right away. my question, is what do you give me for my old product, we have some numbers, say iphone 5 s . >> right now up to 335 for the iphone 5 s, it is important to get your price soon, throughout the event we anticipate prices to come down. gerri: how. >> gazelle offers a price log, in lieu of the iphone event. we did extend that to october 10, this year. gerri: i can go on your web site right now, say i will sell you this, old iphone, you can give me a price, then i have until 10 of ox to get it to you? >> kuwait until you get your new iphone, make sure you like it but want to trade in. and there is no strings
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attached. you are not obligateed to trade even if we send you a box. gerri: how do get a little bit money. >> we pay cash, we do have gift card options for amazon, there a 5% bonus if you select that. or a check or money in your paypal accounts. gerri:tion, with any vendor, shouldn't i be you know deleting -- should i be deleting everything on my iphone. >> you can, gazelle follow's industry standard, for data wiping, we do give it a second pass, we take security seriously. gerri: alisa thank you. >> thank you. gerri: and in addition to gazelle, you can trade in your own gadget insights like next worth glide, and amazon, apple has a trade in program but it typically offers less than other sites.
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we want to hear you from. about our poll question, do you pay too much in financial fees, of course, i pay pointless, useless fees. >> gilbert, if you want a service you will have to pay for it. >> sharon writes i took all my money out of a bank that charged me 5 bucks every month for a statement. great story, still to come, would you trust a self-driving car from gm? >> and will stocks keep running with the bulls? we cover your assets with advice on what you should be doing with your money. >> and here is your consumer gauge with the numbers that you need to know, we'll be right back. so i can reach ally bank 24/7, but there are no branches? 24/7 it's just i'm a little reluctant to try new things.
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gerri: the bulls are not backs down on wall street, despite a down day. bull market more than 2000 days old, marking fourth longests run in near history. mitch tuchman, is joining us and mark freed. welcome to you, patty start with you. what do you see coming around the corner? how high can the stocks go? >> i think we're in a euphoric stage right now. i don't think they could push higher. i think we're overdue for a bit of a correction, if not a major one. gerri: mitch -- -- go ahead. >> looking at last resistance level before the market dropped in november '07 it was about 15 70s, now it is coming to an
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official end in qe . i think that we may get closer to that level by the end of the year before going higher. gerri: mitch, to you, last week we talked about morgan stanley upping its ante on its forecast, a lot of other investment houses have done the same, are they trying to get on the right track? i know there was a lot of suspicion, a couple years ago about rally going on in -- a lot people missed it professionals did. what do you think is behind this optimism right now? >> i don't know. jere -- gerri, everyone is trying to time the market, my clients are all retirement investors, asking me the same questions. the inevitable answer i give them is who knows. nobody really knows, if i gave you an opinion, everyone is half wrong half the time because the market always surprises us. whatever happens in short-term we don't know.
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but 5 or 10 years, stocks seem to compound 8 or 9 or 10% over long periods of time, if you are investing in retirement you don't want to be making short-term trades, because inevitable you will get it wrong, and when you get wrong you will suffer. i wish i could answer that question, i would be in a different business if i could. gerri: i believe that was a great answer, individual investors, shoul should be playg game of being in the market, not when to get in. mark you to. goldman sachs latest on get on bandwagon, yea equitys and stocks, does this make sense? what is interesting about this, and amuses me, so many professionals, hedge fund managers miss the boat. now i wonder if they will miss it th the other way? >> gerri, we feel that market still has a way to go. you know, but to the you know
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last points, it is impossible to figure out when a pullback will happen or in the short-term, you know how far the market will go. over the long-term stocks perform very well. now, come october after -- then elections, we might see a pullback. i would see that as a buying opportunity. i think that you know, when you are looking to get into the market, you th you want to finde opportunityopportunities to gety in. but for retail investor, they should not shy away from the stock market. probably see another couple percentage pointss this year. gerri: great news, we're all bulls today. i want to talk about mutual funds today. i feel that is how our viewers invest, with mutual funds, some are manageed by somebody who srupbg a fund, otherisrunning t.
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this is a disib nation by morningstar. let me tell bank on that. from 2004 it today. of the five-star rated mutual funds, 37% lost one star, 31% lost two, 14% lost three. pat, what do you make of that? should we be picking funds on the basis of star ratings? >> a very interesting analysis. there was a book in 1987, bestseller by peters and waterman, called in search of excellence, they studied all of the top companys in the dow, they found that they rarely stayed on top for lor more thanr 3 years, a principle called mien reversion, picking five-star
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funds today at the top. gerri: does not work so well. >> it is of often, ast -- analoi use, last 10 super bowl winners 8 did not win a play off game the next year. gerri: all right, mitch, last word for you, your world. these can tkphruplet plummet, dy attention to star ratings? >> absolutely not, i think this have a hoax, even morningstar admitted it. best predict or are th the -- people need to really get this. there are two religions in investing, one religion that says i can hire smart people, who will charge me a lot of money to beat the market, then there the other relanguageon, i am a -- religion, i am a member of, forget trying to beat the market just keep fees low and over every stock or bond you can in the market.
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if you do what we do, you ride on coattails of the growth of the global economy. if you try hire managers in mutual funds who are trying to we'ing tobeat the market, it use possible. in '60s with no certified financial analysts. gerri: okay. >> but it is not possible any more. gerri: the big debate. the relingous -- religious debate as you put it, thank you sophie for coming on, interesting conversation. >> thank you, gerri. gerri: we'll show you the results of our swash. and general motors moves past deadly ignition switch recall. details coming up. new york state is jump-starting business with startup-ny.
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gerri: gm ceo mary berra said the ignition switch scandal is now behind. gm is planning a new super cruise gizmo that will allow for hands-free driving. for more on this, laurens car coach. do you agree problems are behind? >> there are still a lot of cars that need to be repaired. i run into people every day that still don't know about it. and beside that, they just want to get ahead of things, move forward, clear that hurdle, saying they have done all we can, they are, we have not gotten to all of lawsuit. gerri: think of it this way, you know, fund to compensate people is selected a hundred different
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forms from people with deaths, gm said it was 13 people who died. it is not over yet. and there is still more. >> not every one of those cases will prove to be there was a fault of gm. there is a human factor involved. gerri: bill ford about these cars, he said right now you have to have as on the road, hands on the wheel, saying for a while, this is bill ford from ford, saying that self-driving cars are a long way, and mary berra saying they will start introduceing some of this technology, as a consumer i have questions about gm, and the technology seeing what happened with the ignition switches. >> true, this is why we see each division as its own company, the consumer has a different impression, you talk to person on the street, general motors is not chevrolet it is be on shoes to us it -- obvious to us it is, the consumer does not see
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it, from a marketing stand . it is good, but cadillac has a new guy, johan made audi what it is today, a phenomenal brand, ahead of the curve with technology, he came from the infiniti line, now she in charge of cadillac, he wants cts and others to move forward. gerri: every carmaker in the world is trying to be a leader in this. i took a ride in a new mercedes benz, but at the end of the day, you say it could be a decade away? >> you will not see them for a decade, i have driven the new volvo, i was a passenger, we and saw it drive, other people to the street felt very uncomfortable, you look over, you see some guy having a conversation not looking at the road, i don't know, but i think we have about 10 years from now minimum, also
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you have to keep in mind, the consumers have to put in a little bit at a time. we have government regulation 92 not about our inability to understand it, but their desire to market their products. creating excitement in the marketplace. >> check competition. gerri: lauren thank you. >> thank you. gerri: we'll be right back. [ breathing deeply ]
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>> very technical how this gets put together. but we see here -- this was a very wrinkley smelly shirt. i don't know what you do to it. but look at this. that does smell good. that is pretty good. it looks like somebody pressed it. which did not happen, it was very wrinkleed. i asked how much does it cost you said $499. how much does it weigh. >> about 75 pounds. gerri: this takes space in basement. >> i have it in my bedroom, it takes 7 inches of recall space -- of wall space, it is where you would use it. >> thank you for coming in, always fun to see new products, mike thank you. >> thank you. gerri: that is it to for tonighs willis report, have a good night, making money with charles payne is coming up right now.
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charles: on "making money," obama's questionable leadership is clouds the landscape, how will market react to circu circumventing congress and the constitution on immigration, corporate taxes and establishment of the kingdom of hawaii. disco is dead, but maybe so too old american worth ethics, why americans lack hustle. part-time jobs, government handouts they are not the answer to get us back to greatness. and alley bab baba -- ali baba

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